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Gold/Mining/Energy : Crystallex (KRY) -- Ignore unavailable to you. Want to Upgrade?

To: Valuepro who wrote (10620)	9/6/2001 9:05:15 PM
From: John Soileau	Respond to of 10836

Yeah, everyone (almost everyone) knows that KRY bought from BGO the note payable by ECM. It certainly isn't a"debt" of KRY; in fact it's a receivable, an asset on the books, just like it was an asset on BGO's books. KRY bought this ECM note actually before they bought all that ECM stock and took control of the company. The note represents old $$$ advanced to ECM by BGO for administrative expenses and explo expenses on ECM properties. So as bucks flow into ECM's bank account from ECM ore shipped to Revemin, the bucks flow right on into KRY's bank account against the note. Pretty good deal all around; as I understand it, ECM's deposits were economic even WITH the cost of a mill factored in. KRY only has to expand one, that is way cheaper. I'm no KRY fan, but snapping up the note and ECM stock was either dumb luck or real smart. John