Mr Robinson --
Your account of the origins of the $23 offer rumour may well be true. Who's to say it's not?
However, such a story is not supported in any way, shape or form by the record that it originated, officially or unofficially, from the offices of Placer Dome.
Your account lends credence to the notion that PDG having something to do with the offer itself. Clearly, there is no evidence to support this beyond the word of the rumour mongers, and as such must be treated as another hypsterish flight of fancy until something more substantial comes along.
The record indicates Placer was not the least bit interested in dealing in any way, shape or form with Crystallex. Right from the word go, KYR's challenges over its right to work the Las Cristinas concessions were dismissed by PDG's top brass as another promotable title challenge dressed up in a slightly different outfit.
PDG has stated clearly time and time again it had nothing to compromise over. Right from the word go, PDG took a hard line on the matter, so it escapes me why anyone from PDG would hint at such an unofficial "offer."
Another reason why it makes no sense is that the economics of LC 4/6 are marginal enough for Placer without it offering to buck up an additional $750 million to buy out Crystallex. To my knowledge, Placer didn't even seriously consider offering KRY a token sum to make it go away.
Far more productive would be to find the earliest published reference to the $23 offer (it could have been in a chat forum, it could have been a newsletter or news service) and challenge the source. At that point, I believe, you'll be much closer to the truth.
Jerry Collins
CSW |
