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3's gone - as if they were really there
My dawg is KRYing real golden tears today.
Red, more wives and girlfriends buying?
Aug 14, 2008 10:10 ETCrystallex Updates Shareholders on the Las Cristinas Permitting Dialogue
TORONTO, ONTARIO--(Marketwire - Aug. 14, 2008) - CRYSTALLEX INTERNATIONAL CORPORATION (TSX:KRY)(AMEX:KRY) today updated shareholders and stakeholders regarding the ongoing dialogue and process between the Venezuelan Ministry of Environment and Natural Resources ("MinAmb") and Crystallex regarding Authorization to Affect Natural Resources (the "Permit") at the Las Cristinas Gold Project.
On June 24, 2008, Crystallex advised shareholders and stakeholders that it was invited to a meeting by representatives of MinAmb including the Vice-Minister. At the meeting, Crystallex was informed that MinAmb was instructed by the Government of Venezuela to reconsider issuance of the Las Cristinas Permit by discussing with Crystallex possible modifications to the Las Cristinas Project to diminish the environmental impacts of the project and thus enable the Permit to be issued. The modifications suggested by the MinAmb representative fall within three main categories:
- Further improvements to optimising the social projects in the area.
- Mitigating the impact of open-vein mining in the currently affected areas of the Imataca Forest Reserve.
- Improving the remediation plans at the end of the mine life as well as repairing existing environmental damage caused by illegal mining.
The Company prepared a report which addressed these three areas and the report has been submitted to MinAmb. In addition, as part of the ongoing process towards the issuance of the Permit on August 7th and 8th, 2008, a team from MinAmb led by the Vice-Minister completed a site visit of the Las Cristinas Project. As part of this visit, the team inspected the social projects including the medical clinic and sewage treatment facility which are both currently under construction.
Commenting on the process, Mr. Robert Fung, Crystallex Chairman and CEO stated, "While it's early to predict the results of the process, we are encouraged by the progress made and the completion of the site visit, and remain optimistic about a prompt and successful completion of the process."
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS: Certain statements included or incorporated by reference in this news release, including information as to the future financial or operating performance of the Company, its subsidiaries and its projects, constitute forward-looking statements. The words "believe," "expect," "anticipate," "contemplate," "target," "plan," "intends," "continue," "budget," "estimate," "may," "schedule" and similar expressions identify forward-looking statements. Forward-looking statements include, among other things, statements regarding targets, estimates and assumptions in respect of gold production and prices, operating costs, results and capital expenditures, mineral reserves and mineral resources and anticipated grades and recovery rates. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. Such factors include, among others, risks relating to additional funding requirements, reserve and resource estimates, gold prices, exploration, development and operating risks, illegal miners, political and foreign risk, uninsurable risks, competition, limited mining operations, production risks, environmental regulation and liability, government regulation, currency fluctuations, recent losses and write-downs and dependence on key employees. See "Risk Factors" below or in the Company's 2007 40-F/Annual Information Form. Due to risks and uncertainties, including the risks and uncertainties identified above, actual events may differ materially from current expectations. Investors are cautioned that forward-looking statements are not guarantees of future performance and, accordingly, investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. Forward-looking statements are made as of the date of this Management Discussion and Analysis and the Company disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or results or otherwise.
Nice read, hope its true:
http://seekingalpha.com/article/90517-venezuela-gold-miners-misappraised
Venezuela Gold Miners: 'Misappraised'
by: Guy Bennett posted on: August 12, 2008 | about stocks: AUREF.PK / GRZ / KGC / KRY
“Great investment opportunities come around when excellent companies are surrounded by unusual circumstances that cause the stock to be misappraised.”
– Warren Buffet
On August 5th, 2008 Venezuelan President Hugo Chavez issued 26 new laws edging the country deeper into a Cuban-style socialism. Chavez has declared that the country “will favor national interests over foreign interests.”
click to enlarge
Predictably, Crystallex (AMEX: KRY) sunk 14% on the news.
They have been developing the Las Cristinas Mine in the environmentally sensitive Imataca Forest. The property holds an estimated 17 million ounces of gold.
Every time Chavez opens his mouth, Crystallex shareholders get kicked in the gut.
Fourteen months ago, Crystallex was trading at $4.89. You can pick up a share of the $212 million market cap company today for $.71 – an 85% discount.
Two other companies with Venezuelan mining interests, Gold Reserve (GRZ) and Rusoro [TSX.V: RML] have been similarly pummeled in recent months. Gold Reserve is trading at $1.40 – down from a 52 week high of $6.00. Rusoro is trading at $1.00 - down from a 52 week high of $2.70.
If you are a shareholder in Crystallex, Gold Reserve or Rusoro, you probably feel like an abused spouse. At this point the most emotionally appealing thing to do is to eject your tormentor from house (sell your stock).
But has Chavez’ big mouth obscured the inherent value in these companies?
I think so.
My reasoning comes from examining Chavez’ track record in the oil industry (which is 30 times bigger). He made loud noises about “nationalizing” the sector, which depressed stock prices and softened up the CEOs, and then he started negotiating.
“I don’t want the oil companies to leave,” Chavez admitted, “I want them to be minority partners.”
Exxon Mobil buys oil in 35 different markets. They’ve made $100 billion profit in 3 years. They can afford to tell Chavez, “Thanks, but no thanks.”
But very few of the CEOs who have done business with Chavez have bad things to say about him. Why? Because he’s playing the same game they are. Trying to create an environment in which he can make money. In that sense Chavez is completely predictable. The only twist is that his shareholders are the Venezuelan peasants.
After Chavez paid a 20% premium ($740 million) for an 82 percent stake in the country's largest private electrical utility, the CEO commented that it was “a good deal for investors.”
Crystallex, Gold Reserve and Rusoro control an estimated $36 billion of gold assets in Venezuela.
Chavez will need their help to get it out of the ground.
He is going to offer them a deal. Whether or not they take it, and whether the shareholders will see stock prices break previous highs, I do not know. But it is worth noting that in his nine years as President of Venezuela Chavez has yet to forcibly shut down a single project.
Chavez is a much straighter businessman than he is a politician.
Foreign mining companies will succeed in Venezuela if they can adapt to the rules of the new game. On this score I would have to give Rusoro the edge. On July 10th, 2008 Rusoro formally agreed to establish a 50-50 partnership with the state-owned Empresa de Produccion Social Minera Nacional. Rusoro CEO Andre Agapov stated: "We are delighted to be selected as the partner of choice for gold mining opportunities in Venezuela.”
Chavez makes so many hostile statements that it is sometimes difficult to think straight about Venezuela.
If we drift 1,200 miles south-west to Ecuador there is a useful external yard stick by which we can measure the value of Crystallex, Gold Reserve and Rusoro.
Two weeks ago Kinross Gold Corp (KGC) made a friendly $1.2 billion all-stock offer for Aurelian Resources Inc. (AUREF.PK) which owns a gold project in Ecuador with 13 million inferred ounces of gold.
If you think Ecuador is more investor-friendly than Venezuela, think again.
Ecuador’s President, Rafael Correa is just as left-leaning as Chavez.
In 2007, Crystallex mined 33,000 ounces of Venezuelan gold. Currently ALL the mines in Ecuador are shut down while Correa rewrites the revenue sharing formula.
But despite this uncertainly, the market assessed the Ecuadorian gold as being worth $61 an ounce in the ground.
Using that as a yardstick, and remembering that Hugo Chavez is a business pragmatist, the Venezuelan gold looks to be, in the words of Warren Buffet, “misappraised”.
Make money, not war.
Doing my part - another 2,000,000 at .0004
This thing is not going to run hard until they report on servenation sales and revenues. People just have to set up positions and determine if the wait is worth the risk. I don't think you are making a quick buck here unless you are the flippers between .0004 and .0007
So are these crooks the type that will let a stock run first or are we looking forward to some down and dirty dilution
This dog has cancer...
And it begins....
Something up today? Anyone see any news?
Are you KRYing to the bank? VZ gold, no doggies unless you count environmental folk, things on up and up and out?
maybe we need another Kellyco open letter to learn some more about the doggies, gold, timber...lol
woof woof
someone just took a dump
Looks like people are selling 5s slowing down the run
No game - you have people that bought at .0003 sitting trying to sell at .0004 and make their little profit
volume increasing, green again. Insiders or speculators?
I tried to buy the other day at .0018 (a tick below the ask but well above bid) and didn't fill - I think MMs are on early 4th of July holiday with this one
The drop off the cliffs to XXXX land, Red, I think maybe I will buy your 5 mil shares at .0002 to average down. What do you think?
LRB - you ever get a response back from either Kelly or DR after you sent them a message about the PRs?
Is it me or is "Enzo Vettese" a character right out of the movie "The Usual Suspects"
probably the restricted share dividend
Ha ha - when this thing is ready to go, it will go. Tired of buying at the ask just to see other ***holes selling off
Averaging down to cut losses already incurred. Buying at .0005 does nothing except pencil me in for a 200 dollar loss until they stop diluting
Been trying to buy at 0.0003 and 0.0004 - nothing available
Are the Aces and 8's suited?
PINR dilution? Bottom soon .0008 X .0009
People are playing with it, trying to get it low for the next PR and roller coaster back up.
What have they said about when shares will clear?
PINR NEWS
Pine Ridge Holdings Enters Formal Negotiations
Market Wire "US Press Releases "
FORT WAYNE, IN -- (MARKET WIRE) -- 05/16/08 -- Pine Ridge Holdings, Inc (PINKSHEETS: PINR) Kevin May, CEO of Pine Ridge Holdings (PINR), is pleased to announce the first of what is expected to be several significant related announcements in the days ahead. As was shared in the last press release, it is the intent of PINR to take advantage of the company's expanding network and to use this network to acquire, both fully and in part, companies that will bring significant value to Pine Ridge Holdings.
May stated, "There are simply too many opportunities to not aggressively go after multiple acquisitions at the same time. The first company that we have approached is ServeNation, LLC. We have been in negotiations with their management and believe that we are very close to being able to announce an agreement. As our shareholders know, our current income verticals involve primarily real estate and tennis/physical fitness operations. These are good, stable, asset rich operations. But we are pursuing companies in industries that can show significant growth and can achieve high valuations."
ServeNation, LLC is a privately held, online social networking website that works exclusively with U.S.-based non-profits. Birthed from MinistryHome, Inc., ServeNation, LLC is an independent corporation that provides social networks, websites and fund raising tools for non-profits across the country. Using the same in-house created code that made MinistryHome successful, ServeNation carries with it all of the advantages of a traditional dot com -- including, most importantly from PINR's perspective, an incredible valuation multiple of 3.75 times GROSS REVENUE.
May continued, "The unique on-line fund raising tools of ServeNation alone can create significant revenues. I hope to find other companies that are valued on revenues and not EBITA, but this is a great start for PINR. I hope to share more about this relationship in the coming days."
This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning it expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete the acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in the Company's public announcements.
Contact:
Pine Ridge Holdings, Inc
Kevin May
CEO
Brian Kistler
(260) 450-8823
Anyone know anything about ADTJ
ABVG at 52 week low - might be an interesting bounce play
QEDC early volume...mean anything?
POPT restricted on scottrade
This thing can double or triple today with the right buying pressure - any news out there
yeah, about time - month long sleep is no good for anybody!
SVMI shares thin, rallying for afternoon run even higher
This run gonna go into tomorrow?
Great red, the assh*** ryan calls you yesterday only to make the share price plummet to sub 0.007. I hope he is feeling the pain of his millions of shares slowly sinking down the drain, but methinks it is either him selling off or buying up on his failure to release promised news to the marketplace. Puts an investor in a precarious position, unload shares at a loss or buy up more cheapies?
Seems like you are buying up the cheapies....
If he is back answering your calls - must mean they are getting ready to unleash some news. Is that your take...
Maybe we start unlocking some value today
what do we think, this going to be a good week ripe with news and renewed optimism or are we still going to be manipulated between .007 and .008