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

To: Graystone who wrote (7710)	4/1/1998 12:25:00 AM
From: c.r. earle	Read Replies (2) \| Respond to of 10836

Graystone, Yes I owned the stock previous to the last ruling that saw the stock fall from approx. $8 to under $4 after the ruling only to see the stock recover most of its losses in the subsequent 2 week period. I sold the stock just before the halt that time. During the latest battle of news releases I started selling the stock as soon as it broke $10. There was just too much pressure on the stock from the shorts. Regarding a value on KRY if a positive decision. That is difficult to answer. Obviously (as I am sure you are aware) much depends on the type of victory (if KRY is victorious) the percentage of LC 4&6 they receive. I would tend to view any positive ruling will result in a gap upwards, regardless of the percentage won simply because the market almost always over reacts to both good and bad news. Consequently with such a large short position there will not be a orderly closing of those positions, thus my reasoning for a gap upwards. The resultant value placed on KRY is simply too difficult to assess at this time. Another point that seems to have been missed or possibly I have missed it on this thread. Two days ago an article in the Financial Post quoted John Ing, (very respected mining analyst)(and certainly not one to say anything about this situation lightly) as saying that he felt that Placer Dome made an error in not settling this matter out of court with KRY. He also went on to say that it is possible that KRY will have a favourable ruling with a limited percentage of LC 4&6 or some form of compensation. I tend to believe that this article has been the latest catalyst in moving the stock upward. Sorry for the vaselating answer but it is the best I can do. Regards (and good luck)