Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Kerlan who wrote (4435)	1/22/1998 2:58:00 AM
From: Joe Bilich	Respond to of 10836

Yeah--I'll bet the lending syndicate is demanding a higher rate to lend before a ruling! They would not do so if they believed it were a slam dunk for PDG. Sounds like code words for: "Our lenders doubt our legal position (can't really blame them--we doubt it ourselves). They want an extra percent over prime, plus a penalty fee and forced payoff if the SC rules against us. Picky picky picky. We told them we own it--what more could they want? After all, that's what CVG told us! We believed them--the bankers should believe us. We thought our normal bankers were just gouging us, but no one else would accept our word for title guarantee either. We can't get a no strings attached loan from anyone. Since we think that some of those strings would be attached to our necks, and made of pretty heavy-guage cord, and Luigi and Guido have terms even more onerous, we'll beat a retreat." My opinion is that PDG immediately plays down VZ and LC and plays up their "strategic decison" to focus instead on Chile and Aldebaran and their venture with BGO. I would expect an acceleration of positive news from Aldebaran. At the extreme, we could see an imprudent grab for BGO to both divert attention and load PDG up with debt to prevent PDG itself being taken out.

To: Kerlan who wrote (4435)	1/22/1998 9:39:00 PM
From: Bill Jackson	Read Replies (2) \| Respond to of 10836

Kerlan, I wonder if when KRY wins, will Placer Dome want to be paid for the work it has done. I suspect that KRY will want to buy it as it will save some time for KRY. Currently if they lose they will have to remove their equipment and restore the ground to where it was, and keep all their drill data to them selves. These are valuable assets and should be bought before PDG has a chance to remove/destroy them. KRY will not simply get title and be able to take them, as this would result in a court challenge by PDG, which would take another year or two to resolve. Just like it would here, the court would allow PDG a reasonable time to remove and restore the land. Does KRY have any method to forstall a PDG takeover bid>, like a shareholder rights plan or other poison pill? Bill