Gold is above the 50 day.
Someone told me KRY was an awesome buy, be happy
and watch it go go go.Hum....we shall see.
http://stockcharts.com/def/servlet/SC.web?c=kry
If you are looking for gold plays then I will recommend looking at GG, it has the best fundamentals and its chart is more bullish then the rest.
Gold stocks are affected by the Gold commodity price thus one need to watch bullion future also.
I donot have a position in KRY or GG.
Thanks Stocky......I will check out GG.
I bought KRY @ bottom fishing yesterday. Up 20%.
It's all politics right now. Whether President Chavez will allow the contracts to go throught are not is a crap shoot. Lots of press from both sides. Quite entertaining.
Good weekend all!
uc
KRY has been moving up significantly the past two days. KRY had a significant drop on Sept. 20th due to president Chavez of Venezuela Making the statement" He wasn't going to approve Gold mining permits of foreign mining companies. The story can be found here http://biz.yahoo.com/ap/050920/venezuela_gold_mine.html?.v=2 But, the table has turned, In another story, Venezuela backed off the threat of denying liceincing permits. Investors are waiting for the government to approve their permit to develop the Las Cristinas project in Bolivar State.
I bought in @ 1.50. I can not figure out how to copy and paste a chart, so I included a link below.
http://stockcharts.com/def/servlet/SC.web?c=kry
BUSINESS SUMMARY
Crystallex International Corporation engages in the exploration for, mining, and production of gold. It conducts these activities primarily through mineral concessions that it owns or controls in Venezuela. The company's principal asset is its interest in the Las Cristinas Project located in Bolivar State, Venezuela. Its other assets include the Tomi operations; the Lo Incréible operations, which include the La Victoria deposit; and the Revemin mill and the Albino project also located in Bolivar State. As of December 31, 2004, the Las Cristinas Project had 333,638 tonnes of proven and probable gold reserves. The company was incorporated in 1984 and is headquartered in Toronto, Canada.
Hi john,
It looks like a nice pick.
Strong technical setup, breakout today.. I see only a little resistance level @ $2.34
applaud
Thanks Fredrick, I thought about KRY for the stock picking contest when it was @ 1.50
Wish I would have!
I came across the photos of you and David wearing 3Stocks tee shirts. It's nice to place your faces with the names and posts!
Quote from: john b mcginnis on November 29, 2005, 03:16:37 PM
Thanks Fredrick, I thought about KRY for the stock picking contest when it was @ 1.50
Wish I would have!
I came across the photos of you and David wearing 3Stocks tee shirts. It's nice to place your faces with the names and posts!
hehehe... thanks... The photos are not very good, we used my cell phone... we have to post some picture on a sunny day outside the office. ;)
regards,
Out yesterday.
http://www.antandsons.com/blogger.html
November 29, 2005
Crystallex International Mining Permit Appears Secure
After the last earnings announcement, Crystallex's (AMEX: KRY) President and Chief Executive Officer, Todd Bruce, of Crystallex said that "the company and its shareholders have been affected by the stress resulting not only from the extended permitting process for the Las Cristinas project, but also from the all too successful efforts by some sectors of the media to misrepresent the Venezuelan Government as having an agenda to drive out foreign investors, nationalise the mining industry and terminate existing valid contracts. However, our confidence in the Venezuelan Government's commitment to honour its contractual commitments remains strong and has, in fact, been reinforced by various recent events." Since extensive meetings with senior government representatives have taken place time and time again, upper management has expressed confidence that the permit for Las Cristinas will be secured. With this in mind, it is obvious to see that the market has started to believe this as well, and that the smart money has begun to heavily accumulate Crystallex shares. There should be no doubt that the permit for Crystallex is imminent and that its share price will continue to reflect this optimism.
posted by Ant & Sons @ 4:40 AM
______________________________________________________________________________
WHEN the news comes out on Crystallex (KRY) "Permit granted" I'm expecting a 1 bagger maybe more!
John
EliteG.."The Wizard", has got this picked in his portfolio.
Let me take a watch. ;)
Press Release Source: Crystallex International Corporation
Crystallex International Corporation - Press Release
Thursday December 1, 10:35 am ET
TORONTO, Dec. 1 /CNW/ - Crystallex International Corporation (TSX/AMEX: KRY) announced today that it has delivered a draw down notice to Azimuth Opportunity, Ltd. under the terms of its purchase agreement with respect to its previously announced equity draw down facility. Under the purchase agreement, the draw down pricing period may be any number of days agreed to by the parties (the end date will not be later than 20 consecutive trading days commencing on the draw down pricing start date), the draw down pricing start date will occur not later than five trading days after delivery of the draw down notice and the additional dollar amount of common shares (additional purchase amount) that Crystallex may specify in a draw down notice may be an amount in excess of the draw down amount agreed to by the parties.
A pricing supplement setting out, among other things, the number of shares issued to Azimuth pursuant to the exercise of the draw down and the purchase price per share will be filed on SEDAR within two business days after the end of the draw down pricing period.
About Crystallex
Crystallex International Corporation is a Canadian gold producer with operations and exploration properties in Venezuela. The Company's principal asset is its interest in the Las Cristinas property in Bolivar State that is currently under development. Other assets include the Tomi Mine and the Revemin Mill. Crystallex shares trade on the TSX (symbol: KRY) and AMEX (symbol: KRY).
The Toronto Stock Exchange has not reviewed this release and does not
accept responsibility for the adequacy or accuracy of this news release.
For further information
Investor Relations Contact: A. Richard Marshall, VP at (800) 738-1577 or Email us at:
[email protected]
Action today....price and volume....
Gold still above the 50-dma, seems to be resting on the 13-dma.
KRY took out the 50-dma nicely,let's see what it can do approaching the 200-dma.
Support @ $2.15...1.97...1.80
Resistance @ $2.45...2.72...3.14
Recent CandleStick Analysis
Bearish
Nov-30-2005 Bearish Harami
Technicals
Most Actives
Percentage Gainer
MACD is Bullish.......... ;D
Stochastic is Bullish.......... ;D
Last Price Quote is:
22.19%above 13-day EMA
30.89%above 50-day EMA
RS Rating: 18
Fundamentals
Key Data:
Market Cap (M): $660.93
KRY chart
Gold, Above the 50-day and holding.
Volume: 1,124,400
Avg Volume (3m): 2,030,080
Support @ $2.19...1.89...1.58
Resistance @ $2.46...2.72...3.14
Technicals
MACD is Bullish
Stochastic is Bearish
RSI is Bullish
Most Actives
Percentage Gainer
Last Price Quote is:
9.63%above 13-day EMA
19.96%above 50-day EMA
RS Rating: 17
Fundamentals
Key Data:
Market Cap (M): $660.93
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: 05/11/2006
Last Analyst Rating: N/A
Bounced very nicely off the 50-dma.
Gold is above the 50-day and holding.
Support @ $1.97...1.77...1.58
Resistance @ $2.34...2.73...3.14
Technicals
MACD is Bullish
Stochastic is Bullish
Close Above the 13-day EMA
Most Actives
Percentage Gainer
Last Price Quote is:
5.14%above 13-day EMA
10.50%above 50-day EMA
RS Rating: 97
Fundamentals
Key Data:
Market Cap (M): $660.93
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: 05/11/2006
Press Release Source: Crystallex International Corporation
Crystallex Announces The Acquisition Of The Minority Shareholder Interests In Lo Increible Mining Properties And Settlement Of The Vengroup Arbitration
Friday December 30, 8:51 am ET
TORONTO--(BUSINESS WIRE)--Dec. 30, 2005--Crystallex International Corporation (TSX:KRY - News; AMEX:KRY - News) announced today that it has acquired the minority shareholder interests in the holding companies which own or control the mining rights to certain of its Lo Increible mining properties located in Bolivar State, Venezuela (including the La Victoria deposit). Crystallex also announced that the outstanding arbitration proceedings between Crystallex and Corporacion Vengroup, S.A. have been settled.
Under the terms of the transaction:
- ECM (Venco) Ltd. (an indirect, wholly-owned subsidiary of the
Crystallex) has purchased the 49% outstanding interest in Osmin
Holdings Limited and the 30% outstanding interest in Tamanaco
Holdings Limited owned by Vengroup and a related company for
consideration consisting of U.S.$6.6 million payable as follows:
- U.S.$3.0 million, by the issuance and delivery to Vengroup of
1,467,136 Crystallex common shares; and
- U.S.$3.6 million, by the issuance and delivery to Vengroup of
a U.S.$3.6 million exchangeable promissory note of ECM; and
- the arbitration proceedings between Crystallex and Vengroup have
been terminated and the parties have delivered mutual releases with
respect to the subject matter of the arbitration proceedings.
The exchangeable promissory note is non-interest bearing and payable in four equal semi-annual instalments commencing June 29, 2006. Vengroup may elect to exchange the instalment payments for, and ECM may elect to satisfy its obligations to make instalment payments by, delivering Crystallex common shares. The number of Crystallex common shares to be delivered to Vengroup will be based upon the weighted average trading price of the Crystallex common shares on the Toronto Stock Exchange during the five trading days immediately preceding the delivery of an exchange notice by Vengroup or ECM.
As a result of the transaction, the joint venture arrangements between ECM and Vengroup have been terminated and Crystallex, through its subsidiaries, now owns 100% of Osmin and Tamanaco. ECM's obligations under the exchangeable promissory note are guaranteed by a subsidiary of ECM and secured by a pledge of the shares of ECM's Venezuelan subsidiary that directly owns the principal Lo Increible mining properties held by ECM.
As part of the transaction, Crystallex entered into a two-year consulting agreement with the principals of Vengroup pursuant to which Crystallex has agreed to pay aggregate consulting fees of US$600,000.
About Crystallex
Crystallex International Corporation is a Canadian gold producer with operations and exploration properties in Venezuela. The Company's principal asset is its interest in the Las Cristinas property in Bolivar State that is currently under development. Other assets include the Tomi Mine and the Revemin Mill. Crystallex shares trade on the TSX (symbol: KRY) and AMEX (symbol: KRY).
NOTE: This Release may contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Crystallex, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, or results to differ from those reflected in the forward-looking statements. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Specific reference is made to "Narrative Description of the Business - Risk Factors" in the Company's Annual Information Form ("AIF"). Forward-looking statements in this release including, without limitation to, statements regarding the expectations and beliefs of management include the following: gold price volatility; impact of any hedging activities, including margin limits and margin calls; discrepancies between actual and estimated production, between actual and estimated reserves, and between actual and estimated metallurgical recoveries; mining operational risk; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign investment; speculative nature of gold exploration; dilution; competition; loss of key employees; additional funding requirements; and defective title to mineral claims or property, as well as those factors discussed in the section entitled "Risk Factors" in Crystallex's AIF, annual report, and elsewhere in documents filed from time to time with the Canadian provincial securities regulators, the United States Securities and Exchange Commission ("SEC"), and other regulatory authorities.
The Toronto Stock Exchange has not reviewed this release and does not accept responsibility for the adequacy or accuracy of this news re lease.
Crystallex International Corporation (AMEX:KRY - News; TSX:KRY - News)
Contact:
Crystallex International Corporation
Investor Relations Contact:
A. Richard Marshall, VP
(800) 738-1577
[email protected]Visit us on the Internet: http://www.crystallex.com
--------------------------------------------------------------------------------
Source: Crystallex International Corporation
A great bounce off the 50-dma.....
Technicals
Most Actives
Percentage Gainer
Last Price Quote is:
14.43%above 13-day EMA
22.12%above 50-day EMA
RS Rating: 98
Yes Setravis, this is another gold one ... GOLD STOCKS ARE HOT!!! ;)
----KRY breaking out from CUP with HANDLE pattern
Quote from: Terlisa on January 04, 2006, 11:33:06 PM
Yes Setravis, this is another gold one ... GOLD STOCKS ARE HOT!!! ;)
----KRY breaking out from CUP with HANDLE pattern
I hear that Terlisa !
Thanks for coming in with some of your work = Applaud... ;D
Cramer pitched it.
Target $3.50-4.25
Looks like it may just bust through the 200-dma soon.
Another nice day with volume and price action
Volume: 3,620,200
Avg Vol (3m): 1,393,940
Support @ $2.35...2.08
Resistance @ $2.62...2.72...3.14
Technicals
MACD is Bullish
Stochastic is Bullish
Most Actives
Percentage Gainer
Last Price Quote is:
15.23%above 13-day EMA
27.68%above 50-day EMA
RS Rating: 98
Fundamentals
Key Data:
Market Cap (M): $660.93
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: 05/11/2006
Last Analyst Rating: N/A
I've been in this one since September. @ 1.50 looks like a 1 bagger for sure and will probably gap up this morning. I like Jim Crammer and what his comments will do for this stock today, but he has too much power.
gap up -- looks like a good day to take profits -
CRYSTALLEX INTL CP (AMEX:KRY) Delayed quote data
Pre-Market (RT-ECN): 2.96 0.36 (13.85%)
Volume @.........404,500
Press Release Source: Crystallex International Corporation
Crystallex International Corporation: Press Release
Wednesday January 11, 1:14 pm ET
TORONTO--(BUSINESS WIRE)--Jan. 11, 2006--Crystallex International Corporation (TSX:KRY - News; AMEX:KRY - News) announced today that it has delivered a draw down notice to Azimuth Opportunity, Ltd. under the terms of its purchase agreement with respect to its previously announced equity draw down facility. Under the purchase agreement, the draw down pricing period may be any number of days agreed to by the parties (the end date will not be later than 20 consecutive trading days commencing on the draw down pricing start date), the draw down pricing start date will occur not later than five trading days after delivery of the draw down notice and the additional dollar amount of common shares (additional purchase amount) that Crystallex may specify in a draw down notice may be an amount in excess of the draw down amount agreed to by the parties.
A pricing supplement setting out, among other things, the number of shares issued to Azimuth pursuant to the exercise of the draw down and the purchase price per share will be filed on SEDAR within two business days after the end of the draw down pricing period.
About Crystallex
Crystallex International Corporation is a Canadian gold producer with operations and exploration properties in Venezuela. The Company's principal asset is its interest in the Las Cristinas property in Bolivar State that is currently under development. Other assets include the Tomi Mine and the Revemin Mill. Crystallex shares trade on the TSX (symbol: KRY) and AMEX (symbol: KRY).
The Toronto Stock Exchange has not reviewed this release and does not accept responsibility for the adequacy or accuracy of this news re lease.
Crystallex International Corporation (AMEX:KRY - News; TSX:KRY - News)
Contact:
Crystallex International Corporation
Investor Relations Contact:
A. Richard Marshall, VP
(800) 738-1577
[email protected]--------------------------------------------------------------------------------
Source: Crystallex International Corporation
End of the day chart.
Volume: 12,792,300
Avg Vol (3m): 1,572,800
Technicals
Most Actives
Gap Up
Percentage Gainer
Last Price Quote is:
21.45%above 13-day EMA
36.02%above 50-day EMA
RS Rating: 98
Fundamentals
Key Data:
Market Cap (M): $660.93
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: 05/11/2006
Last Analyst Rating: N/A
Wow, I need to visit this fourm more often (or at least open all of Setravis threads).
I saw this on Cramer last night and heard something like "Richest Gold Vein in the world"
I also heard something like "Venezuelan President Hugo Chavez could Socialize the Mines".
:P
No worries - In at 2.80
Good to see you guys in here.
What else you buying these days?
Quote from: KCScott on January 11, 2006, 11:10:31 PM
Wow, I need to visit this form more often (or at least open all of Setravis threads).
Indeed. Applaud Setravis for keeping the rest of 3SOF community well informed ;)
Keep up the good work :D
Thanks KCScott and Jimbo, for the vote of confidence!! :D
Applaud back at you. ;)
I hope you guys make a buck or two from some of these picks. ;D
I don't think you need to worry about resistance until KRY gets to the $3.50 level.
I'm more concerned with watching for a correction in the gold sector, figuring KRY will be one the first to fall.
Setting now just above the 200-dma.
Support @ $2.72...2.49...2.39
Resistance @ $3.14...3.23
Technicals
MACD is Bullish
Stochastic is Bullish
Most Actives
Percentage Gainer
Last Price Quote is:
15.92%above 13-day EMA
35.14%above 50-day EMA
RS Rating: 97
Fundamentals
Key Data:
Market Cap (M): $660.93
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: 05/11/2006
Last Analyst Rating: N/A
No time for comments. Leave you the end of the day chart.
Primed for another Breakout !
Most people can't seem to lose with a metals stock lately.
Volume: 2,302,500
Avg Volume (3m): 1,930,920
hey guys,
a few days before KRY's news hit a friend of mine heard from a guy who works at an investment company about KRY.
i haven't been trading lately so i just watch and did nothing about it. he bought some.
i live in toronto and canada is rich in metals (and oil). the TSX is like all metals and oil.
he told me about it the day KRY dropped to $2.30. again i did not buy. arggg.
then almost magically the next day news came out and then more news.... and up KRY went.
i think the only downside is the possibility that the goverment takes control of the mines but i do not think that could happen.
i also do not think the price of gold will drop much.
i am surprised the stock hasn't already risen more. maybe it is about to as setravis said.
hi to all,
-rocket8
damn...... check it out.
i own none.
got a tip at $2.30
duh!
Quote from: setravis on February 14, 2006, 11:13:56 PM
Primed for another Breakout !
Most people can't seem to lose with a metals stock lately.
Volume: 2,302,500
Avg Volume (3m): 1,930,920
How sweet it is !.... :D
That 50/200 dma crossover is looming also. "The Golden Cross"
AP
Crystallex Gets Permit for Gold Mine
Thursday February 23, 4:20 pm ET
Canada's Crystallex Gets Permit for Basic Exploration at Venezuelan Gold Mine
Technicals
Most Actives
MACD - Bullish........... ;D
Percentage Gainer
Last Price Quote is:
11.73%above 13-day EMA
20.47%above 50-day EMA
RS Rating: 98
Fundamentals
Key Data:
Market Cap (M): $660.93
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: 05/11/2006
Last Analyst Rating: N/A
AP
Crystallex Gets Permit for Gold Mine
Thursday February 23, 4:20 pm ET
Canada's Crystallex Gets Permit for Basic Exploration at Venezuelan Gold Mine
CARACAS, Venezuela (AP) -- Canada's Crystallex International Corp. has obtained permits for basic exploration at a gold mine here.
The Venezuela government has given the company the necessary environmental permits for the Lo Increible gold mine in Venezuela, Crystallex said in a statement Thursday.
Lo Increible is a 10,000-hectare (24,710-acre) property in the El Callao mining district in eastern Venezuela.
The company, which received its final permit last month, has a one-year contract to conduct a feasibility study for gold, alluvium and ore at the site, it said.
Crystallex still is awaiting permits for the larger Las Cristinas gold mine, which is believed to hold one of the region's largest undeveloped gold deposits, the company said.
Crystallex earlier this month raised its estimate of gold reserves at the Las Cristinas site from 12.5 million ounces (354 million grams) to 13.6 million ounces (385 million grams). It acquired the property in 2000 from Vancouver, Canada-based Bema Gold Corp., which at the time estimated it held 2.6 million ounces (73 million grams)of gold.
Things could get interesting here, real interesting... :D
The Golden Cross....
Technicals
Last Price Quote is:
2.97%above 13-day EMA
12.94%above 50-day EMA
RS Rating: 96
This ones looking interesting again. Just popped up on my filter tonight. Price action tested and rebounded off the ascending trendline. Im anticipating a break of the 2.98 neckline. So im buying in the morning.
Good luck,
-Fous
News out yesterday:
Crystallex Announces Approval of Permit to Impact Natural Resources for an Aggregate...
Tue Mar 7, 2006 8:52 AM ET
Crystallex Announces Approval of Permit to Impact Natural Resources for an Aggregate Quarry for the Las Cristinas Project, Bolivar State, Venezuela
TORONTO--(Business Wire)--March 7, 2006--
Crystallex International Corporation
(TSX:KRY)(AMEX:KRY) reported today that the Ministry of the
Environment and Natural Resources ("MARN") in Venezuela has notified
Crystallex of the Ministry's approval of the "Permit to Impact
Natural Resources" for a quarry on the Albino property to provide
aggregate for the adjacent Las Cristinas project, and of the
initiation of the normal administrative process by the Ministry.
Previously, on February 15, 2006, Crystallex announced that it
had been granted the rights to explore and develop a quarry on the
Albino property as a source of aggregate for the Las Cristinas
project by the Mining Institute (IAMIB) of Bolivar State, Venezuela.
Aggregate is required for the construction and operating phase of the
Las Cristinas Project which currently contains gold reserves of some
13.6 million ounces at a gold price of US$400 per ounce. The Albino
concession is located approximately 1 kilometre from the Las
Cristinas Project site.
Todd Bruce, Crystallex President and CEO commented, "MARN's
approval of the Permit to Impact Natural Resources for the Albino
aggregate quarry that will service the Las Cristinas project is a key
development as it brings us closer to the issuance of the Permit to
Impact Natural Resources for the Las Cristinas project itself. We
look forward with great anticipation to receiving this final permit
for Las Cristinas which will enable the company to commence the
construction process."
Quote from: fous on March 09, 2006, 12:00:10 AM
This ones looking interesting again. Just popped up on my filter tonight. Price action tested and rebounded off the ascending trendline. Im anticipating a break of the 2.98 neckline. So im buying in the morning.
Good luck,
-Fous
Did you open a position on this one Fous ? If so good luck with your trade ! ;)
"Bullish Price Channel (continuation) Pattern".
Basing at the top. MACD positive(Bullish). Stochastic oversold.
Recent CandleStick Analysis
Very Bullish
Mar-10-2006 Bullish Engulfing
Today's Candlestick Patterns:
White Closing Marubozu
Today a White Closing Marubozu was formed. This shows that the day opened and then prices went lower slightly, however it was followed by a rally that drove the prices over the opening price and the rally continued all day ending with a closing price equal to the high of the day.
Support @ $2.97...2.85...2.68
Resistance @ $3.09
Technicals
Close Above the 13-day EMA
Most Actives
Percentage Gainer
Last Price Quote is:
3.72%above 13-day EMA
11.68%above 50-day EMA
RS Rating: 94
"Bullish Price Channel (continuation) Pattern".
Quote from: setravis on March 11, 2006, 06:55:46 PM
Did you open a position on this one Fous ? If so good luck with your trade ! ;)
Sure did Setravis! I see the ascending channel though im playing this more like an ascending triangle, with a false breakout that occured in late Feb. Price action closed at the neckline of 2.98 on friday. Hoping to see a breakout this coming week.
You holding this Setravis?
-fous
Bought this morning @ 3.03, she can run now! :)
Great play on Venezuela. Earnings are out on 3/31. Should beat the numbers, lets see.........
Looks like a mini consolidation pattern right now....probably gearing up for earnings.
Like the trade but would exit on the first tick below that blue support line.
Also dug up one of my old charts from Dec 6th
nice pick fous!
cal >:D
up 10% in 15 mins with huuuuuuuuge volume, something's up!!! ;D
Quote from: setravis on March 01, 2006, 09:37:55 PM
Things could get interesting here, real interesting... :D
The Golden Cross....
Volume: 3,035,900
Avg Vol (3m): 1,922,530
Technicals
Most Actives
Percentage Gainer
Last Price Quote is:
3.13%above 13-day EMA
10.71%above 50-day EMA
RS Rating: 95
Fundamentals
Earnings Expected on Mar 31
Key Data:
Market Cap (M): $660.93
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: 03/31/2006
Last Analyst Rating: N/A
"Bullish Price Channel (continuation) Pattern".
It is getting interesting..........
Technicals
Most Actives
Last Price Quote is:
4.61%above 13-day EMA
13.00%above 50-day EMA
RS Rating: 96
Fundamentals
Earnings Expected on Mar 31
Key Data:
Market Cap (M): $660.93
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: 03/31/2006
Last Analyst Rating: N/A
NEWS!!! > MIBAM Approves the Las Cristinas Gold Project
http://biz.yahoo.com/bw/060326/20060326005024.html?.v=1
+ 20% pre-market!!! :)
Quote from: Se7en on March 27, 2006, 08:04:21 AM
NEWS!!! > MIBAM Approves the Las Cristinas Gold Project
up 20% pre-market!!! :)
This means that the mining has been approved, but remember it doesn't mean KRY has got their permits yet. KRY management seem to be indicating a green light but they still do not have permits. I believe that should be kept in mind.
Good Luck
uc.
yep, permits approval would have been better but this news is also welcome when i look at the pps now! :)
I'm not planning to hold through earnings, do you own some KRY too?
Currently out :( but have been in and out a few times and have been following for some time.
Congrats on staying with it.
uc.
Thx, i'm lucky, if the nwes was a week later, i would also be out!:)
It's having some trouble to pass 4$, hopefully there's some strenght left for today!
ROB-TV link regarding the LC project.http://www.robtv.com/ Scroll down to 3:15 PM(Monday, March 27, 2006) and enjoy. MARN still has to approve the EIA, KRY is NOW a STRONG BUY instead of the speculative BUY it was until now.
Also mentioning KRY is a potential takeover candidate!
KRY opportunity always knocks....... ;D
We will see what tomorrow brings...... :D
Support @ $3.67...3.08...2.91
Long term resistance @ $4.25...4.68
Volume: 10,645,900
Avg Volume (3month): 1,956,530
Technicals
Record Price High........ ;D
Most Actives
Record Price Break Out......... ;D
Gap Up
Percentage Gainer
Last Price Quote is:
25.53%above 13-day EMA
35.60%above 50-day EMA
RS Rating: 98
Fundamentals
Earnings Expected on Mar 31<<<<<<<< 8)
Key Data:
Market Cap (M): $660.93
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: 03/31/2006
Last Analyst Rating: N/A
Crystallex's value as target seen on rise
WENDY STUECK
Globe and Mail Update
Trumpeting a key government approval for its much-delayed Las Cristinas project, Crystallex International Corp. says it is one step closer to turning the Venezuelan deposit into a mine — a development that could make the company a more appealing takeover target in a consolidating gold sector.
"There's no question it has just moved up the radar screen of anybody in the mining industry who would be in a position of looking at [the company]," analyst Catherine Gignac at Wellington West Capital Markets Inc. in Toronto said Monday.
She said Las Cristinas could appeal to resource-hungry majors for a number of reasons, including a short time period to possible startup and relatively low capital and operating costs. But given the project's history of multiple delays and delicate negotiations with the Venezuelan government, potential purchasers are likely to move carefully, she added, perhaps making quiet overtures to Crystallex and holding off on any formal negotiations until the company has its long-sought permit in hand.
Toronto-based Crystallex on Sunday said that Venezuela's Ministry of Basic Industry and Mining had formally approved a feasibility study for Las Cristinas. That approval is the final item required before Venezuela's Environment Ministry would issue a permit, Crystallex said, adding that it expects to receive that permit "in the near term."
Investors appeared to welcome the news, Monday driving Crystallex shares up 77 cents or 21 per cent to close at $4.43 on the Toronto Stock Exchange.
Crystallex has been involved with the deposit, one of the biggest in Venezuela, since 1996. But the project has been dogged by legal wrangling and concerns about political risk.
Those concerns boiled over last fall, when Venezuelan President Hugo Chavez said he planned to overhaul the mining sector, raising fears that some resource projects would be nationalized. The share value of companies with assets in Venezuela, including Crystallex, sank.
Crystallex insisted those concerns were overblown, maintaining that Venezuelan reforms were aimed at companies that were not satisfactorily developing their projects, not those such as Crystallex that were spending money and working with authorities to develop the deposits.
That position got a boost in November, when South African gold giant Gold Fields Ltd. made a takeover bid worth nearly $350-million for Toronto-based Bolivar Gold Corp., whose main asset was its Choco 10 property in Venezuela.
Crystallex spokesman Richard Marshall Monday said Crystallex is "very confident" it will receive its mining permit. "It's a matter of when, not if, and we believe it will be sooner rather than later."
North American producers that have publicly expressed interest in the Venezuelan project include Goldcorp Inc. and Glamis Gold Ltd., Ms. Gignac said.
Another nice day.
Volume: 3,712,600
Avg Vol (3m): 2,203,170
Technicals
Most Actives
Percentage Gainer
Last Price Quote is:
23.74%above 13-day EMA
44.85%above 50-day EMA
RS Rating: 98
Fundamentals
Key Data:
Market Cap (M): $660.93
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: 05/11/2006
Last Analyst Rating: N/A
Crystallex Reports 2005 Year End Results
Business Wire (Fri, Mar 31)
Link...... http://biz.yahoo.com/bw/060331/20060331005640.html?.v=1
damn! i knew i should have held on to those shares!!
8)
Up big time in the after hours.......
CRYSTALLEX INTL CP (AMEX:KRY) Delayed quote data
After Hours (RT-ECN): 5.25 0.83 (+18.78%)
Volume: 5,533,800
Avg Vol (3m): 2,277,000
Technicals
Record Price High
Most Actives
Last Price Quote is:
18.83%above 13-day EMA
42.93%above 50-day EMA
RS Rating: 98
Fundamentals
Key Data:
Market Cap (M): $660.93
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: 05/11/2006
Last Analyst Rating: N/A
F#kin Cramer pumped it on his program tonight - hence the afterhours pop. Bummer it's been on my watchlist for a week. At first I was watching for a possible partial gap fill and when that didn't happen I was waiting this week for a small retrace and touch of the 9 ema. So much for that plan :(
She is a cookin! Up 19% with volume.
uc.
unbelievable
and i dont own a share. argggggg.
see the other post on NKO.to and CUX.to
rocket8
Big Move........ ;D Makes me so happpppy..... ;)
Watch the huge float on this........After this kind of percentage move, and with an about 180 million share float, you know they are going to throw some blocks in as sells at the market, and this is how the little man often get their asses handed to them.
Be very careful now....
Volume: 46,879,500
Avg Vol (3m): 2,295,010
Technicals
Record Price High
Most Actives
Gap Up
Percentage Gainer
Last Price Quote is:
46.61%above 13-day EMA
78.09%above 50-day EMA
RS Rating: 98
Fundamentals
Key Data:
Market Cap (M): $660.93
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: 05/11/2006
Last Analyst Rating: N/A
The voices I hear are telling me to ride KRY for awhile. Chart Looks awesome.
KRY is one of my long investments based mostly on its fundamentals and a solid business plan.
Volume: 29,621,400
Avg Vol (3m): 3,405,710
Technicals
Record Price High
Most Actives
Percentage Gainer
Last Price Quote is:
38.90%above 13-day EMA
80.92%above 50-day EMA
RS Rating: 98
Fundamentals
Key Data:
Market Cap (M): $660.93
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: 05/11/2006
Last Analyst Rating: N/A
Price Channel (Continuation)...... Bullish Price Channel ;D
Price channel is a continuation pattern that slopes up or down and is bound by an upper and lower trend line. The upper trend line marks resistance and the lower trend line marks support. Price channels with negative slopes (down) are considered bearish and those with positive slopes (up) bullish. For explanatory purposes, a "bullish price channel" will refer to a channel with positive slope and a "bearish price channel" to a channel with negative slope.
In a bullish price channel, some traders look to buy when prices reach main trend line support. Conversely, some traders look to sell (or short) when prices reach main trend line resistance in a bearish price channel. As with most price patterns, other aspects of technical analysis should be used to confirm signals.
Because technical analysis is just as much art as it is science, there is room for flexibility. Even though exact trend line touches are ideal, it is up to each individual to judge the relevance and placement of both the main trend line and the channel line. By that same token, a channel line that is exactly parallel to the main trend line is ideal.
On the strength of gold....... ;)
Gold stocks seem to be rallying today....... ;D
Volume: 11,319,200
Avg Vol (3m): 4,206,440
Technicals
Most Actives
Last Price Quote is:
17.50%above 13-day EMA
58.64%above 50-day EMA
RS Rating: 98
Fundamentals
Key Data:
Market Cap (M): $660.93
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: 05/11/2006
Last Analyst Rating: N/A
In the above post,notice the Price Channel (Continuation)...... Bullish Price Channel
The break above the channel line resistance is going to mark
an acceleration of the advance. JMHO.....of course. ;D
Support @ $5.94...4.91...4.49
Resistance @ $6.14...6.59
Recent CandleStick Analysis
Bullish
Apr-19-2006 Bullish Engulfing
Volume: 5,175,800
Avg Vol (3m): 4,379,160
Technicals
MACD is Bullish
Stochastic is Bullish
Most Actives
Percentage Gainer
Last Price Quote is:
8.66%above 13-day EMA
45.37%above 50-day EMA
RS Rating: 99
Fundamentals
Key Data:
Market Cap (M): $660.93
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: 05/11/2006
Last Analyst Rating: N/A
I guess KRY is on SALE today ! NO news to cause the plunge ! ;D
Quote from: REALDEALS21 on May 03, 2006, 10:39:01 AM
I guess KRY is on SALE today ! NO news to cause the plunge ! ;D
actually, DEAL, there was some news, but as I read, it's positive, the next step toward approval from the Environmental Ministry...or have i read this little tidbit wrong?
Crystallex International Corporation (KRY) down 6.2% on 7.5 million shares traded.
Crystallex International Corporation is a Canadian gold producer with operations and exploration properties in Venezuela. In the company's latest news Crystallex International Corporation reported that the Ministry of the Environment and Natural Resources ("MARN") in Venezuela has notified Crystallex of the Ministry's approval of the "Permit to Impact Natural Resources" for a quarry on the Albino property to provide aggregate for the adjacent Las Cristinas project, and of the initiation of the normal administrative process by the Ministry.
Quote from: REALDEALS21 on May 03, 2006, 10:39:01 AM
I guess KRY is on SALE today ! NO news to cause the plunge ! ;D
found this on reuters....
Bolivian nationalization plan spooks Crystallex Wednesday, May 03, 2006 1:35:13 PM ET
TORONTO (Reuters) - Nervousness over Bolivia's plan to nationalize oil and gas reserves carried over into other Latin American sectors on Wednesday, triggering a 16 percent drop in shares of miner Crystallex International Corp. <KRY.TO>.
Shares of Toronto-based Crystallex, which has gold projects in Venezuela, fell as low as C$5 on the Toronto Stock Exchange, before rebounding a bit to C$5.48, for a loss of 50 Canadian cents, or 8.4 percent, on a heavy volume of 4.4 million shares.
"It's a ripple effect," said John Ing, president of Maison Placements. "They're being tarred with the Bolivian brush."
Earlier this week, Bolivian President Evo Morales said he was nationalizing the country's vast oil and gas reserves, rattling shares of companies with projects in Bolivia.
Catherine Gignac, an analyst with Wellington West, said there was "a lot of nervousness out there," but "nothing to get overly worked up about."Crystallex's stock has gone through its share of turmoil over the past few years, as investors wait for the Venezuelan government to grant the final environmental permit needed to get the big Las Cristinas gold project rolling.
Crystallex says nothing has changed.
"We believe that we are at the end of the permitting process for the environmental permit and remain poised to develop the project upon its receipt," said Richard Marshall, Crystallex's spokesman.
About four weeks ago, Crystallex said it won approval for a feasibility study that clears the way for environmental authorities to grant the final permit.
"We are at the point where we believe that we can see news on the permit at any time," said Marshall. "There is nothing that we've seen in terms of obstacles, or anything that has to be overcome."
Las Cristinas is seen as one of the largest gold deposits in the world, with an estimated 13.6 million ounces in proven and probable reserves.
The Venezuelan government awarded Crystallex the contract to develop the deposit in 2002.
--------------------------------------------------------------------------------
(c) Reuters 2006. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.
ok, good DD ! ;D
Quote from: REALDEALS21 on May 03, 2006, 02:57:43 PM
ok, good DD ! ;D
Not pumping Cramer, but stocks do jump when he mentions them, and KRY jumped a few months ago when he pumped this. Now, it's 2:30p, CST, and he just mentioned KRY and Bolivia, and he mentioned Wellington and the Ministry of Mining. Says there's nothing to worry about. This is cheap and says grab it...
Quote from: rv on May 03, 2006, 03:32:38 PM
Quote from: REALDEALS21 on May 03, 2006, 02:57:43 PM
ok, good DD ! ;D
Not pumping Cramer, but stocks do jump when he mentions them, and KRY jumped a few months ago when he pumped this. Now, it's 2:30p, CST, and he just mentioned KRY and Bolivia, and he mentioned Wellington and the Ministry of Mining. Says there's nothing to worry about. This is cheap and says grab it...
ok, just looked back at my streamer, and it popped from $5 to $5.15......as if, no one listens to Cramer....
Personally, I think this stock is on sale. KRY will see double digit prices !! Gold will be going to $900 ! ;D KRY is an excellent 12 month investment.
Hey DEAL,
any thoughts on how she's doing....i really thought it might creep up to 5.30 or so and sit til earnings, which i have a feeling won't help it any, but, if the permit is granted before earnings, i think the stock will go up, considerably, and the earnings won't hurt it, ....if earnings come out first, i don't think we'll see a considerable jump til they show they're making a ton of money....
now, if Chavez nationalized the mines, this is all negated...
your thoughts?
damn, i like this stock....it was selling off like crazy just before the bell (i actually saw a block of 119,600 shares sell at $5, that's almost $600,000,) and it still climbs back up a few pennies at the bell....
c'mon Chavez, push this permit thru, you know you want it.....
c'mon kids, let's go, daddy's gotta back the truck up.....
Standard Bank Converts Debt into Crystallex Shares
Friday May 5, 4:19 pm ET
TORONTO, ONTARIO--(MARKET WIRE)--May 5, 2006 -- Crystallex International Corporation (TSX:KRY.TO - News)(AMEX:KRY - News) announced today that Standard Bank Plc, ("Standard Bank") has elected to convert US$7,500,000 principal amount of their US$14,315,000 loan, (the "Loan") in accordance with the terms of the credit agreement dated December 23, 2005, (the "Credit Agreement") among Crystallex's subsidiary, ECM (Venco) Ltd. as borrower, Crystallex as guarantor and Standard Bank as lender. As a result of the conversion, Crystallex has issued 3,765,841 common shares to Standard Bank.
ADVERTISEMENT
In December 2005, Crystallex's subsidiaries settled their outstanding 71,239 ounces of gold forward sales and call option contracts with Standard Bank Plc and converted the settlement amount into a US$14,315,000 term loan amortizing over the next three years. The gold contracts were closed out at an average gold price of US$504.50 per ounce, substantially below the May 5, 2006 closing price of approximately US$682 per ounce, (see Crystallex News Release dated December 23, 2005 for details of the transaction).
The conversion of the US$7,500,000 principal amount represents the entire convertible portion of the Loan and was converted into common shares pursuant to the provisions of the Credit Agreement at a price equal to C$2.32 per share, representing the average market price for the common shares of the Corporation on the Toronto Stock Exchange for the five trading days prior to December 23, 2005 (the effective date of the Credit Agreement). The Canadian dollar share price was converted into United States dollars at an exchange rate of 1.1649 (being the noon rate as reported by the Federal Reserve Bank of New York on December 23, 2005). Following the conversion, Crystallex will have approximately US$6.7 million of debt outstanding to Standard Bank.
well, i want to stay positive on this stock, but there is a canadian article, in which, cramer is kiinda retracting his initial "pump" on this stock....leaving me a bit worried...
http://www.canada.com/nationalpost/financialpost/story.html?id=cc6a4381-0c60-441 d-b4aa-4e09c6db4b1f
sorry for only posted a link, but it's a rather lengthy article....i don't think it's anything new, but it reiterates the touchiness of the subject....
http://www.marketwatch.com/News/Story/Story.aspx?guid={D4830CBC-767B-4EE0-84A4-DB8F37ED1A42}&siteid=mktw&dist=nbs
Looks headed to $3.25 for a gap fill. Damm I wish I had shorted this crap when it was over $5!
Quote from: Lucas Scott on May 15, 2006, 03:52:01 PM
Looks headed to $3.25 for a gap fill. Damm I wish I had shorted this crap when it was over $5!
Luke,
Shorting two BOOHOOYAHS in a stock called
KRY is a little bit
too perverse.
Even for you. Quit it. ;D >:D
Moving off a 61.8% Fibonacci retracement.
MACD still bottoming, stochastic rising out of oversold.
Risk/Reward,
Risk here, but there may be the potential for a huge upside !
Technicals
Close Above the 13-day EMA
Most Actives
Percentage Gainer
Last Price Quote is:
1.93%above 13-day EMA
-1.47%below 50-day EMA
RS Rating: 96
Fundamentals
Key Data:
Market Cap (M): $660.93
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: 11/09/2006
Last Analyst Rating: N/A
Quote from: Melf Elf on May 16, 2006, 05:56:51 AM
two BOOHOOYAHS in a stock called KRY
KRY is down 45% on the day at the moment. Don't see any news.
That's a big BOOHOOYAH for the Cramer crowd. Yikes.
Venezuela will seek a majority stake in the mine ventures.
Bloomberg.com reports that Venezuela may seek a majority control in mining ventures under proposed changes to the country's law regulating the extraction of gold and other minerals, National Assemblyman Jose Ramon Rivero said.
Quote from: REALDEALS21 on June 12, 2006, 01:47:59 PM
Venezuela will seek a majority stake in the mine ventures ao basically KRY is left OUT !
Thanks for that, REALDEALS. Applause. Scottrade still hasn't reported any news.
KRY went all the way down to 1.95. Nice little upside breakouts on the bounce back over 3.00, though. Ride 'em cowboy! trading today, eh?
MELF ELF, where do you see Support and Resistance now for KRY ?
Quote from: REALDEALS21 on June 12, 2006, 02:28:40 PM
MELF ELF, where do you see Support and Resistance now for KRY ?
REALDEALS,
Support should have been:
1. 3.61-3.67 (the low of the March gap/and the recent low).
2.
3.25-3.27 - the highs prior to the March gap up (former resistance should be support).
3. 2.90-ish - the 200DMA
Those broken support levels now should act as resistance off the 1.95 crash low. So far, the reaction high is
3.25., so that's acting as resistance so far.
If KRY gets through 3.25-3.27, then 3.61-3.67 would be the next resistance area.
You may also want to read this......
Press Release Source: Crystallex International Corporation
Crystallex International Corporation: Press Release
Friday June 9, 4:42 pm ET
TORONTO, ONTARIO--(MARKET WIRE)--Jun 9, 2006 -- Crystallex International Corporation (the "Corporation") (TSX:KRY.TO - News)(AMEX:KRY - News) announced today that, subject to receipt of all necessary regulatory and shareholder approvals, it has agreed to amend the terms of certain unlisted common share purchase warrants (the "Warrants") held by two holders in the United States. The proposed amendment is in relation to 2,272,727 Warrants originally issued by the Corporation as part of an issuance of 4,545,455 special warrants (each special warrant consisting of one common share and one-half of one Warrant) completed on August 29, 2003. Each Warrant entitles the holder thereof to acquire one common share in the capital of the Corporation at an exercise price of US$2.75 per share until September 15, 2006.
Pursuant to the proposed amendment to the Warrants, the Corporation has agreed to issue 0.228 new common share purchase warrants (the "New Warrants") in exchange for each Warrant exercised prior to 5:00 p.m. (New York time) on the date which is the later to occur of: (i) June 12, 2006; and (ii) the date on which the Corporation receives all necessary regulatory and stock exchange approvals to complete the amendment to the Warrants (the "Offer Expiry Time"). Each New Warrant will entitle the holder thereof to acquire one common share in the capital of the Corporation at an exercise price of US$6.23 per share (subject to adjustment upon the occurrence of certain events) until the date which is one year from the date of issuance of the New Warrants. The exercise price of the New Warrants represents a 50% premium to the closing price of the common shares of the Corporation on the American Stock Exchange on May 31, 2006. Other than as described above, the New Warrants will have the same terms and conditions as the Warrants.
In the event that all of the Warrants are exercised prior to the Offer Expiry Time, the Corporation would realize gross proceeds of approximately US$6.25 million and be required to issue an aggregate of 517,603 New Warrants.
Subject to receipt of all necessary regulatory, stock exchange and other approvals, the Corporation intends to amend the terms of the common share purchase warrants issued by the Corporation on September 8, 2003 in order to offer holders of such warrants the opportunity to exercise their warrants early on terms which are similar to those outlined above. Details of the proposed amendment will be provided by the Corporation in a separate news release.
About Crystallex
Crystallex International Corporation is a Canadian gold producer with operations and exploration properties in Venezuela. The Company's principal asset is its interest in the Las Cristinas property in Bolivar State that is currently under development. Other assets include the Tomi Mine, certain Lo Increible properties and the Revemin Mill. Crystallex shares trade on the TSX (symbol: KRY) and AMEX (symbol: KRY).
The Toronto Stock Exchange has not reviewed this release and does not accept responsibility for the adequacy or accuracy of this news release.
Contact:
Contacts:
Crystallex International Corporation
A. Richard Marshall
VP
(800) 738-1577
Visit us on the Internet: http://www.crystallex.com
or Email us at:
[email protected]--------------------------------------------------------------------------------
Source: Crystallex International Corporation
After that news that Setravis posted, where you think KRY is going from here ? More downward or upward ? ??? ???
Like Mr. Booyah said on his show today. Either A) This is just some random journalist reporting crap, and this is an opportune time for entry into this stock. or B) The rumors are true and this stock is done, stick a fork in it.
vheadline.com (which seems a bit overly nationalistic) actually posted an article on Friday, which states subtly that eventually, KRY would be taken out of the picture.
With the choice delays in approvals perfectly coaxing this company into staying in Venezuela and setting it up to be applicable to the new legislation being proposed (existing mining operations would be untouched by the 50% semi-nationalization measures being proposed). I'd say that if this stock rebounds w/approval and goes anywhere near the 6-8 dollar projections, that its time to get the heck out of this stock.
The press release, I don't really know how to interpret though. It states that a certain amount of gross proceeds would be earned, but any positive or negative effect this may have is completely eclipsed by the supposed news today on bloomberg.com
The same somewhat controversial website vheadline seems to think that Peter Wilson, the particular bloomberg reporter has a penchant for reporting news in his own color.
http://www.vheadline.com/readnews.asp?id=23768
Who knows? Theres a lot to take in on this. If I read right, looks like 15 days to confirm whether that proposal for legislation is true or not.
Back above the 50 and 200-day MA.
Don't trust anything very much, that's what stops are for.
I like the potential for this stock.
This may be a good long term bet also.
I like the long curve up and rising MACD over the last month or so.
52wk Range: 1.01 - 6.25
Volume: 9,399,000
Avg Vol (3m): 2,205,100
Technicals
Most Actives
Gap Up
Percentage Gainer
Last Price Quote is:
24.52%above 13-day EMA
17.27%above 50-day EMA
RS Rating: 11
Fundamentals
Key Data:
Market Cap (M): $660.93
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: 11/09/2006
Last Analyst Rating: N/A
Quote from: setravis on September 05, 2006, 05:11:54 PM
Back above the 50 and 200-day MA.
Don't trust anything very much, that's what stops are for.
setravis,
Ain't it the truth? A good stop would have saved a hunk of money on this one.
What a disaster stock this has been, from Cramer's BOOYAH and RE-BOOYAH at 5.25, and again at 5.10!
Even with today's gain of 18%, back to resistance (black line on the chart), it's still a big loss from the BOOYAHS. No posts in this folder since June 12. It's a shame that we have so many folders, and that we don't follow up on stocks like this
before they gain 18%, like today :(
So many stocks, though, and so little time.
Thanks for all of your work, trying to consolidate folders. Frankly, I think we'd do a lot better following fewer stocks, and staying with the threads, rather than abondoning them, like this thread, then posting so many new threads on so many stocks that we can't possibly follow.
Just my opinion, of course. Again, thanks!
I hear every word you're saying Melf....Ain't it the truth.
Agree with you my fellow trader.....
Applaud you my friend ! ;)
Keep up all the good work that you do here on 3SOF.. ;D
I remember that I shorted KRY before @ 5.58 & I got in before the "CRAMER RE-BOOYAH", it could have been my great short for 2006 if I just stick into it a litte bit more. :( :'(
Re-test on the trendline is the possible target for this baby, IMHO ;)
Here at 3SOF people talk a lot about 3 magic lines...what is it? :-\
I do see 3 lines here ;)
Press Release Source: Crystallex International Corporation
Crystallex Reports Third Quarter 2006 Results
Tuesday November 14, 4:15 pm ET
TORONTO, ONTARIO--(MARKET WIRE)--Nov 14, 2006 -- Crystallex International Corporation (TSX:KRY.TO - News)(KRY - News) today reported unaudited financial results for the quarter ending September 30, 2006. All dollar figures are in US Dollars unless otherwise indicated.
ADVERTISEMENT
Commenting on the Company's progress and activities, Todd Bruce, Crystallex President and CEO noted that, "The meetings the company attended at the recent Venezuelan Canadian Business Forum were extremely constructive and the Governments of Canada and Venezuela deserve to be commended for the success of this Forum. The Forum provided us with the opportunity to attend a meeting with the Canadian Ambassador to Venezuela, representatives from the Venezuelan Ministry of Environment and Natural Resources ("MARN"), the Corporacion Venezolana de Guayana ("CVG") and Gold Reserve Corporation to address the permitting process for the Las Cristinas and Las Brisas projects. At this meeting MARN advised all the parties it is expediting the process to issue the permit as soon as possible once the outstanding aspect of the efficient utilization of regional resources was completed. To this end Crystallex and Gold Reserve provided MARN with agreements in principle to implement mutually advantageous joint projects to further optimize utilization of regional infrastructure resources. MARN provided further clarity on the matter by confirming that the Las Cristinas and Las Brisas projects are separate and distinct projects which would each be issued its own Permit to Impact Natural Resources ("the Permit") and that neither project would be held up by the timing of the other should the timing aspects of the two projects diverge.
Mr. Bruce continued, "Crystallex and Gold Reserve have completed the agreements in principle to implement six joint regional projects and have officially submitted these agreements to MARN, MIBAM, the CVG, the Ministry of Basic Industries and Mining ("MIBAM") and the Canadian Ambassador.
Mr. Bruce reiterated, "We remain actively engaged in pursuing this initiative with MARN and the other interested Venezuelan and Canadian authorities in an effort to secure the Permit required to launch the construction and operating phase at Las Cristinas."
Mr. Bruce also confirmed, "The drills are turning on the 11,500 metre drill program at Las Cristinas that we commenced at the end of last month as we continue to pursue all opportunities to create shareholder value while we work with all the interested parties to secure the Permit as soon as possible. All of the necessary approvals required for the drilling have been granted including the required environmental permit from MARN. The goal of the program is to upgrade inferred mineral resources to measured and indicated mineral resources and undertake a revised gold reserve estimate. We expected that the drilling will be completed by the end of January 2007 and the new gold reserve estimate should be available by the end of May 2007."
During the third quarter, Crystallex successfully raised additional capital through a public offering of units and warrant exercises collectively generating $47 million in capital.
Management's Discussion and Analysis
For the Nine Month Period Ended September 30, 2006
(All dollar amounts in US dollars, unless otherwise stated)
This Management Discussion and Analysis ("MD&A") of the financial condition and results of the operations of Crystallex International Corporation ("Crystallex" or the "Company") is intended to supplement and complement the unaudited interim consolidated financial statements and the related notes for the nine month period ending September 30, 2006. This MD&A should be read in conjunction with both the annual audited consolidated financial statements of the Company for the year ended December 31, 2005, the related annual MD&A included in the 2005 Annual Report and the most recent Form 40-F/Annual Information Form. All dollar amounts in this MD&A are in US dollars, unless otherwise specified. This MD&A was prepared on November 7, 2006.
Overview
- Continuing discussions with Venezuelan government officials to advance the process for obtaining the Las Cristinas permit to impact natural resources (the "Permit").
- Subsequent to quarter end, commenced an 11,500 metre drilling program at Las Cristinas.
- Received net proceeds of $48.1 million from a unit offering and the issue and exercise of warrants during the third quarter.
- Increased revenues in the third quarter and first nine months due to higher realized gold prices.
- Net loss for the third quarter of $8.8 million.
Key Statistics
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Three months Nine months
ended Sept. 30, ended Sept. 30,
2006 2005 2006 2005
---------------------------------------------------------------------------
Operating Statistics
Gold Production (ounces) 12,040 13,740 36,600 39,782
Gold Sold (ounces) 15,661 15,934 37,158 42,253
Per Ounce Data:
Total Cash Cost(1) $546 $344 $510 $396
Average Realized Gold Price $624 $440 $602 $437
Average Spot Gold Price $621 $439 $601 $431
Financial Results ($ thousands)
Revenues $9,769 $7,020 $22,367 $18,366
Net Loss ($8,815) ($10,338) ($24,067) ($26,623)
Net Loss per Basic Share ($0.04) ($0.05) ($0.11) ($0.14)
Cash Flow from Operating
Activities(2) ($8,554) ($11,079) ($28,391) ($24,562)
---------------------------------------------------------------------------
Financial Position At Sept. 30, At Sept. 30,
($ thousands) 2006 2005
------------ ------------
Cash and Cash Equivalents $43,382 $4,616
Restricted Cash and Cash
Equivalents --- $39,197
Total Debt $87,453 $89,805
Shareholders' Equity $205,440 $126,373
Shares Outstanding
-- Basic (millions) 244.8 194.3
---------------------------------------------------------------------------
---------------------------------------------------------------------------
(1) For an explanation of Total Cash Costs, refer to the section on
Non-GAAP measures. The calculation is based on ounces of gold sold, not
ounces produced.
(2) Cash flow after working capital changes and before capital
expenditures.
Financial Results Overview
The Company recorded a net loss for the first nine months and third quarter of 2006 of $24.1 million, (($0.11) per share) and $8.8 million, (($0.04) per share) respectively, as compared with net losses of $26.6 million, (($0.14) per share) and $10.3 million (($0.05) per share) for the comparable periods in 2005. The losses in the first nine months and third quarter of 2006 are principally attributable to the aggregate of mine operations costs, corporate general and administrative costs and interest expense. The $24.1 million loss for the first three quarters of 2006 was less than the $26.6 million loss in the year earlier period primarily because of increased operating income from mining operations due to realizing higher prices on gold sales.
Gold sales revenue was $22.4 million and $9.8 million for the first nine months and third quarter of 2006 respectively as compared with $18.4 million and $7.0 million for the same periods in 2005. Although gold sales volumes were lower in the 2006 periods, higher average realized gold prices more than offset the fewer ounces sold. For the first nine months of 2006, the average realized gold price was $602 per ounce, an increase of 38% over the same period in 2005.
Cash flow from operating activities was a deficit of $28.4 million for the first nine months of 2006 as compared with a deficit of $24.6 million for the same period in 2005. The cash flow deficit for the three quarters of 2006 was largely attributable to cash corporate general and administrative expenses of $12.6 million, (general and administrative expenses of $14.1 million for the nine months of 2006 included a $1.5 million non-cash charge representing the fair value of warrants issued as a component of a project finance advisory fee), cash interest payments of approximately $9.9 million and $12.1 million of cash used in working capital accounts, principally due to decreased accounts payable. The cash flow deficit in the third quarter of 2006 was $8.6 million, which similarly reflects the aggregate of cash payments for general and administrative expenses, interest expense and working capital utilization.
The Company's cash position at September 30, 2006 was $43.4 million, an increase of $18 million since the beginning of the year. The increase in the Company's cash position is due to receiving net proceeds of $84.4 million during the first nine months of 2006 from common share and warrant unit offerings, the exercise of warrants and options and a draw under the Company's equity draw-down facility.
Project Development
Las Cristinas
Project development slowed during the first three quarters of 2006 while the Company continues to wait for the Permit. The Permit is required to commence earthworks and building activities at site. Engineering work and the ordering of long lead time equipment was largely complete at the end of 2005. The remaining purchasing of supplies and awarding of service contracts will be undertaken following receipt of the Permit.
Reflecting the reduction in development activity, expenditures for the third quarter and first nine months of 2006 were less than half the level for the comparable periods in 2005. Expenditures for Las Cristinas were $8.5 million during the third quarter of 2006 and $36.3 million for the first nine months of the year, as compared with $18.8 million and $75.2 million for the comparable periods in 2005. Additional equipment has been purchased, which increased the value of equipment in storage from approximately $51 million at the end of 2005 to $58 million at the end of September 2006. As the engineering work is largely complete, the level of staff and hours billed by SNC Lavalin, the EPCM contractor, have been reduced.
The Company has spent $173.0 million on Las Cristinas since the inception of the Engineering, Procurement and Construction Management, ("EPCM") contract in April 2004. Of this, approximately $112.6 million is related to equipment purchases, engineering services and certain owner's costs administered by the EPCM contract. The additional $60.4 million of costs incurred outside of the EPCM contract relates to owners costs that were not included in the August 2005 $293 million capital cost estimate which covered those items governed by the EPCM contract. These additional Crystallex managed costs include site security, legal and consulting fees, social and community development programs, airstrip construction and environmental work. Costs in a majority of these areas are expected to continue although reductions are expected after the Permit is received and construction is well advanced.
The delay in receiving the Permit is expected to result in an increase to the remaining capital cost required to complete the project. In addition to those owners' costs that will continue through the construction phase, costs are expected to be affected by the inflationary impact on prices of supplies and equipment not yet ordered and on contracts that are stale dated since they were negotiated eighteen to twenty-four months ago. The overall cost to complete the project will be assessed after the receipt of the Permit when the balance of equipment orders are placed and contracts renegotiated.
Subsequent to the end of the third quarter, the Company participated in a meeting attended by the Canadian Ambassador to Venezuela and representatives from the Venezuelan Ministry of Environment and Natural Resources ("MARN"), the CVG and Gold Reserve Inc, ("Gold Reserve") who hold the Brisas concession to the south of Las Cristinas. The principal purpose of the meeting was for Crystallex and Gold Reserve to reach an understanding for developing agreements in principle on sharing a limited number of regional infrastructure projects with the aim of reducing the overall environmental impact of the two projects. MARN stated that such agreements in principle would allow it to accelerate the permitting process. MARN also confirmed at the meeting that it recognized Las Cristinas and Brisas as separate and distinct projects that will be issued separate permits. The companies have since completed agreements in principle for six shared projects and have officially submitted the agreements to MARN and all the other participants at the meeting. The projects include the development of an integrated subsurface and surface hydrological database, the sharing of the Las Cristinas airstrip, utilizing a single explosives magazine (and associated National Guard facility) for use by both projects, designing and establishing a solid waste landfill facility which will be handed over to the local authorities, and implementing the proposal submitted in May 2006 by Crystallex to move a portion of the surface water drainage channel approximately 340 metres north of its current planned course.
On November 1, 2006, the Company announced it had commenced a $1.6 million, 11,500 metre drill program at Las Cristinas having received the necessary environmental permission from MARN to conduct the drilling program. The aim of the program is to upgrade inferred mineral resources to measured and indicated mineral resources and undertake a revised reserve estimate. It is expected that the drilling will be completed by the end of January 2007 and the new reserve estimate will be available by the end of May 2007.
Operations Review
Production Summary
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Three months ended Nine months ended
Sept 30, Sept 30,
Gold Production (ounces) 2006 2005 2006 2005
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La Victoria 0 71 2,100 1,491
Tomi Open Pits 5,086 6,958 15,269 23,519
Tomi Underground 6,196 6,312 17,207 13,401
Purchased Material 758 399 2,024 1,371
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Total Gold Production (ounces) 12,040 13,740 36,600 39,782
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Total Ore Processed(1) (tonnes) 87,056 95,402 279,868 323,941
Head Grade of Ore Processed (g/t) 4.63 4.78 4.41 4.09
Total Recovery Rate (%) 93% 94% 92% 93%
Total Gold Recovered (ounces) 12,040 13,740 36,600 39,782
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Total Cash Cost Per Ounce Sold $546 $344 $510 $396
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Mine Operating Cash Flow ($,000) $1,176 $1,535 $3,075 $1,050
Capital Expenditures(2) ($,000) --- --- --- $856
Mine Cash Flow After Capital ($000) $1,176 $1,535 $3,075 $194
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(1) Ore from Tomi, La Victoria and purchased material is processed at the
Company's Revemin mill.
(2) Capital expenditures at the El Callao operating mines, excludes Las
Cristinas. Since the second quarter of 2005, all costs at the El Callao
operations have been expensed due to the short reserve life of these mines.
Tomi
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Three months ended Nine months ended
Sept 30, Sept 30,
2006 2005 2006 2005
Tomi Open Pits
Tonnes Ore Mined 77,381 74,522 190,314 256,955
Tonnes Waste Mined 618,505 406,570 1,803,088 1,671,868
Strip Ratio (Waste:Ore) 8.0 5.6 9.5 6.5
Tonnes Ore Processed 56,195 74,019 170,647 246,801
Average Grade of Ore
Processed (g/t) 3.1 3.2 3.0 3.2
Recovery Rate (%) 92% 93% 91% 93%
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Production (ounces) 5,086 6,958 15,269 23,519
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Tomi Underground
Tonnes Ore Mined 26,628 18,112 67,292 45,663
Tonnes Ore Processed 21,833 18,117 64,295 42,889
Average Grade of Ore
Processed (g/t) 9.4 11.4 8.9 10.3
Recovery Rate (%) 94% 95% 94% 95%
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Production (ounces) 6,196 6,312 17,207 13,401
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The Company produced 12,040 ounces of gold during the third quarter of 2006 as compared with 13,740 ounces for the same period last year. With the exception of gold produced from purchased material, all the Company's gold production during the third quarter was from the Tomi concession located near El Callao in south-eastern Venezuela.
Production for the nine months ended September 2006 was 36,600 ounces, a decrease of 8% from the 39,782 ounces recovered in the year earlier period. Gold recovered from the open pit operations decreased by 8,256 ounces, or 35%. The total volume of material mined (waste and ore) in the pits was similar for the first nine months of 2006 and 2005; however, the proportion of waste mined in the 2006 nine month period increased significantly. The strip ratio (the ratio of waste to ore) increased by 46% from 6.5:1.0 for the first nine months of 2005 to 9.5:1.0 for the same period in 2006. The Company is stripping a significant amount of waste in 2006 to allow for continuous open pit operations in 2007.
Lower production from the pits was partially offset by higher production from the underground mine. The Company recovered 17,207 ounces from underground operations during the first three quarters of 2006 as compared with 13,401 ounces for the comparable period in 2005. A 50% increase in tonnes processed more than offset a decrease in the average processed grade of underground ore. The average underground processed ore grade decreased from 10.3 grams per tonne to 8.9 grams per tonne.
Cash flow from mining operations (revenue less operating expenses) was $3.1 million and $1.2 million for the first nine months and third quarter of 2006 respectively as compared with cash flow of $1.5 million and $0.2 million for the comparable periods in 2005. The increase in cash flow in the current year was attributable to higher gold prices (see the Revenue section below). Cash costs, however, increased to $510 per ounce sold in the first nine months of 2006 as compared with $396 per ounce for the same period in 2005. For the third quarter of 2006, cash costs were $546 per ounce. Costs were higher in most areas of the El Callao operations including costs for mining (due in part to mining higher volumes of waste material relative to ore and an increase in the mining contract rate), site general and administrative expenses, maintenance, mill consumables, (notably cyanide, grinding media and lime), explosives and higher exploitation taxes and royalties which are tied to the price of gold.
Income Statement
Revenue
Mining revenue was $9.8 million and $22.4 million for the third quarter and first nine months of 2006 respectively, compared with $7.0 million and $18.4 million for the corresponding periods in 2005. The increase in revenue in 2006 for both the third quarter and first nine months was due to realizing higher prices on gold sales, which more than offset fewer ounces of gold sold.
For the third quarter of 2006, gold sales were 15,661 ounces and the Company's average realized price was $624 per ounce. Gold sales for the same period in 2005 were 15,934 ounces at an average realized price of $440 per ounce. Higher revenues in the third quarter of 2006 were directly attributable to the 42% increase in the average realized gold price.
During the first nine months of 2006, the Company sold 37,158 ounces at an average realized price of $602 per ounce. Although sales volumes were 12% lower than the nine month period in 2005, the average price realized of $602 per ounce was 38% higher than the $437 per ounce realized in the prior year nine month period. As a result, mining revenue increased to $22.4 million for the first three quarters of 2006 from $18.4 million for the comparable period in 2005.
Operating Expenses
Mine operating expenses were $8.6 million and $19.3 million for the third quarter and first nine months of 2006 respectively, as compared with $5.5 million and $17.3 million for the comparable periods in 2005. Fewer ounces of gold were sold during the first nine months of 2006 as compared with the same period in 2005; however, operating costs increased in the 2006 period due to higher costs across most areas of the operations, including contract mining, processing consumables, maintenance and mine general and administrative expenses, (as detailed in the Operations Review section). All costs at the El Callao operations are expensed, rather than capitalized given a reported proven and probable reserve life of less than one year.
The total cash cost per ounce sold in the third quarter of 2006 increased to $546 per ounce from $344 per ounce in the third quarter of 2005. For the first nine months of 2006, the average operating cost was $510 per ounce as compared with $396 per ounce for the same period in 2005.
Corporate General and Administrative Expenses
General and Administrative expenses were $6.2 million and $14.1 million for the third quarter and first nine months of 2006 respectively, as compared with $5.3 million and $12.5 million for the comparable periods in 2005. The increase in both periods of 2006 is due largely to including a $1.5 million charge representing the fair value of warrants issued as a component of a fee for project finance advisory work.
Liquidity and Capital Resources
Cash and Equivalents
On September 30, 2006, the Company had cash and cash equivalents of $43.4 million.
The change in the cash balance during the first nine months of 2006 is reconciled as follows ($ millions):
Cash, Cash Equivalents and Restricted Cash on December 31, 2005 $25.4
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Shares Issued for Cash $81.6
Warrants Issued for Cash $6.0
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Total Sources of Cash $87.6
Cash Used in Operating Activities ($28.4)
Capital Expenditures -- Las Cristinas ($36.3)
Principal Debt Repayments ($4.8)
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Total Uses of Cash ($69.6)
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Net Addition to Cash and Cash Equivalents $18.0
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Cash and Cash Equivalents on September 30, 2006 $43.4
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At September 30, 2006, the Company's debt included $100 million of 9.375% senior unsecured notes due December 2011, $3.5 million outstanding under a bank term loan facility due December 2008 and a $1.8 million exchangeable promissory note.
Cash Flow from Operating Activities
Cash flow from operating activities (before capital expenditures) is principally affected by general and administrative expenditures, interest expense, the level of gold sales, realized gold prices, cash operating costs, and movements in non-cash working capital.
Cash flow from operating activities was a deficit of $8.6 million for the third quarter of 2006. The cash flow deficit in the third quarter was primarily attributable to cash interest payments of $4.8 million, cash general and administrative costs of $4.7 million (general and administrative expenses of $6.2 million for the third quarter included a $1.5 million non-cash charge representing the fair value of warrants issued as a component of a project financing advisory fee), and a $2.5 million net working capital utilization, principally a decrease in accounts payable and an increase in prepaid expenses. These were partially offset by mine cash flow of $1.2 million. For the comparable quarter in 2005, the operating cash flow deficit was $11.1 million. The decrease in the deficit in the current year third quarter is due primarily to a smaller net utilization of working capital.
For the first nine months of 2006, the Company had a cash flow deficit of $28.4 million as compared with a deficit of $24.6 million for the comparable period in 2005. General and administrative cash costs of $12.6 million, cash interest payments of $9.9 million and a net million working capital utilization of $12.1 million, principally a decrease in accounts payable, contributed to the cash flow deficit in the third quarter of 2006.
These were partially offset by $3.1 million of mine operating cash flow. The cash flow from operations deficit was $3.8 million greater for the nine month period of 2006 as compared with the same period in 2005. Although the Company did not incur any expenditures on settling gold contracts in the first nine months of 2006, as compared with expenditures of $11.5 million for the same period in 2005, this saving was offset in 2006 by cash used for reducing accounts payable and higher interest payments.
Investing Activities
Capital expenditures were $8.5 million and $36.3 million for the third quarter and first nine months of 2006, compared with $18.8 million and $75.2 million for the comparable periods in 2005. As illustrated in the table below, the decrease in the third quarter and first nine months of 2006 is attributable to lower spending on the Las Cristinas project.
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Three Months Ended Sept. 30, Nine Months Ended Sept. 30,
$ millions 2006 2005 2006 2005
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Las Cristinas $8.5 $18.8 $36.3 $74.3
Revemin/Tomi/Albino --- --- --- $0.9
Total $8.5 $18.8 $36.3 $75.2
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At September 30, 2006, Crystallex projected a financing requirement of approximately $300 to $325 million to provide funding through the end of 2008 when commercial production is forecast to be achieved at Las Cristinas if the environmental permit is received in the fourth quarter of 2006. The funding estimate includes amounts for completing the development of Las Cristinas (based on the August 2005 $293 million capital cost estimate), for other Las Cristinas costs not covered by the EPCM contract, including site security, legal and consulting fees, ongoing camp costs and social and community development programs, for corporate general and administrative requirements and for financing fees and interest costs during the construction period. Crystallex intends to fund the overall requirement with a combination of limited recourse project debt financing, other forms of public market debt financing, and equity financing.
Financing Activities
The Company made $0.40 million of regularly scheduled principal payments to Standard Bank Plc during the third quarter of 2006. The terms of the Standard Bank loan agreement require the Company to make additional mandatory loan prepayments upon the issue of equity or equity linked debt securities. Following the completion of an offering of common shares and common share purchase warrants in August 2006, the Company made a mandatory prepayment to Standard Bank of $1.9 million. At the end of the third quarter of 2006, the balance remaining under the Standard Bank loan was $3.5 million.
In August 2006, the Company raised net proceeds of $26.9 million in a public offering of 10,125,000 units, with each unit consisting of one common share of the Company and one half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share of the Company at a price of C$4.25 on or before February 10, 2008.
The Company received proceeds of $21.3 million during the third quarter from the exercise of common share purchase warrants.
Outstanding Share Data
At November 7, 2006, 244.8 million common shares of Crystallex were issued and outstanding. In addition, at November 7, 2006 options to purchase 10.5 million common shares of Crystallex were outstanding under the Company's stock option plan and warrants to purchase 19.2 million common shares of Crystallex were issued and outstanding.
Quarterly Data
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2006
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Q3 Q2 Q1 Q4
Revenue 9,769 $5,520 $7,079 $6,623
Net Loss ($8,815) ($8,296) ($6,956) ($18,585)
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Quarterly Data
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2005 2004
------------------------------------------------------------
Q3 Q2 Q1 Q4
Revenue $7,020 $6,301 $5,046 $5,037
Net Loss ($10,338) ($8,295) ($7,989) ($44,115)
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The quarterly trends are consistent with the explanations of the annual trends set out in the Company's 2005 40-F/Annual Information Form.
Critical Accounting Policies and Estimates
Critical accounting estimates are those estimates that have a high degree of uncertainty and for which changes in those estimates could materially impact the Company's results. Critical accounting estimates for the Company include property evaluations, capitalization of exploration and development costs and estimates of asset retirement obligations and stock based compensation.
There were no changes in accounting policies or methods used to report the Company's financial condition in the nine months of 2006 that impacted the Company's financial statements.
Special Note Regarding Forward Looking Statements
Certain statements included or incorporated by reference in this Management Discussion and Analysis, 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" in the Company's 2005 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.
Risk Factors
The business and operations of the Company and its affiliates are subject to risks. In addition to considering the other information in the Company's 2005 40F/Annual Information Form, which is available on SEDAR at www.sedar.com, an investor should carefully consider the following factors. Any of the following risks could have a material adverse effect on the Company, its business and future prospects.
Risks Associated with Operating in Developing Countries
The Company's mineral exploration, exploitation activities and mining operations are located in Venezuela and may be adversely affected by political instability and legal and economic uncertainty in such country. The risks associated with the Company's foreign operations may include political unrest, labour disputes, invalidation of governmental orders, permits, agreements or property rights, risk of corruption including violations under U.S. and Canadian foreign corrupt practices statutes, military repression, war, civil disturbances, criminal and terrorist actions, arbitrary changes in laws, regulations and policies, taxation, price controls, exchange controls, delays in obtaining or the inability to obtain necessary permits, opposition to mining from environmental or other non-governmental organizations, limitations on foreign ownership, limitations on the repatriation of earnings, limitations on mineral exports, high rates of inflation and increased financing costs. These risks may limit or disrupt the Company's projects or operations, restrict the movement of funds or result in the deprivation of contractual rights or the taking of property by nationalization, expropriation or other means without fair compensation.
Risks Specific to Operations in Venezuela
Political and Economic Instability
The Company's principal mineral properties are located in Venezuela and as such the Company may be affected by political or economic instabilities there. The risks associated with carrying on business in Venezuela, in addition to those highlighted above, include, but are not limited to violent crime, which is prevalent throughout the country and includes kidnapping, smuggling and drug trafficking especially in remote areas. Changes in resource development or investment policies or shifts in political attitudes in Venezuela may adversely affect the Company's business. Operations may be affected in varying degrees by government regulations with respect to restrictions in production, price controls, export controls, income taxes, expropriation of property, maintenance of claims, environmental legislation, land use, unauthorized mining activities, land claims of local people, water use and mine safety. The effect of these factors cannot be accurately predicted.
The Permit Still Required
MIBAM completed its overall technical, economic and financial approval process of Las Cristinas on March 26, 2006. However, the Company continues to await the issuance of the Permit, which is necessary to allow commencement of construction of the mine. The initial application for the Permit was submitted in April 2004. Continued development and the ultimate commencement of commercial production are dependent upon receipt of the Permit, which will allow the Company to proceed to put in place financing to fund construction. As the Las Cristinas project is the Company's primary development project, the failure to obtain the Permit or to obtain the Permit in a timely manner could have a material adverse affect on the future of the Company's business. There can be no assurance as to when or if the Permit will be granted.
Exchange Controls
Venezuela currently has exchange controls that affect the ability of companies doing business in Venezuela to convert Venezuelan source income into foreign currency. The Central Bank of Venezuela enacted such exchange control measures in 2003 in order to protect international reserves. The exchange rate, originally fixed at approximately 1,600 Bolivars /U.S.$, has since been adjusted twice upwards and presently stands fixed at 2,150 Bolivars/U.S.$. There can be no assurance that exchange controls will not continue and, if they do, that they will not adversely affect the Company's operations, including its ability to satisfy its foreign currency obligations.
Mine Operation Agreement
Lack of Ownership Rights. Under Venezuelan Mining Law of 1999 (the "VML"), all mineral resources belong to the Republic of Venezuela. In accordance with the VML, the Government of Venezuela has reserved for itself the right to directly explore and exploit the mineral deposits at the Las Cristinas project location (the "Las Cristinas Deposits") and has elected to do so through the CVG. The mine operation agreement entered into with the CVG on September 17, 2002 (the "Mine Operation Agreement") is an operation agreement and does not transfer any property ownership rights or title rights to the gold produced to the Company. Rather, the Company has been authorized to exploit the Las Cristinas Deposits for the CVG in accordance with the Mine Operation Agreement. The interests of the Company in the Las Cristinas Deposits are contingent upon the Company continuing to satisfy its obligations under the Mine Operation Agreement. Failure to do so could result in the CVG having the right to terminate the Mine Operation Agreement.
Lack of Copper Rights. In addition to gold, the Las Cristinas Deposits also contain very low levels of copper, 0.13% on average. Under the Mine Operation Agreement, the Company is only entitled to exploit the gold contained in the Las Cristinas Deposits. Based on the feasibility studies carried out by the Company and following discussions with the CVG, the Company has determined that exploiting the copper contained in the Las Cristinas Deposits would detract from the economics of the Las Cristinas project. The Company does not need the right to exploit the copper contained in the Las Cristinas Deposits in order to exploit the gold and does not currently intend to negotiate with the CVG for the right to exploit the copper contained in the Las Cristinas Deposits.
Although the Company does not believe that the MIBAM would do so, the MIBAM retains the right to grant exploitation and other rights with respect to the copper contained in the Las Cristinas Deposits to the CVG or a third party. The Company has been advised by its Venezuelan counsel that:
(a) if the MIBAM grants the right to exploit the copper contained in the Las Cristinas Deposits to the CVG, subject to fulfilling all necessary requirements of Venezuelan law (including the additional grant by the MIBAM to the CVG of the right to negotiate the exploitation of the copper with third parties), the CVG has agreed under the terms of the Mine Operation Agreement to negotiate the exploitation of the copper with the Company; and
(b) if the MIBAM grants the right to exploit the copper contained in the Las Cristinas Deposits to a third party, the Company's right under the Mine Operation Agreement to exploit the gold contained in the Las Cristinas Deposits would, as a matter of Venezuelan law, take precedence over the third party's right to exploit the copper.
If the MIBAM grants the right to exploit the copper contained in the Las Cristinas Deposits to the CVG, there can be no assurance that the MIBAM will grant to the CVG the additional right to negotiate the exploitation of the copper with third parties or that the Company will be able to negotiate an agreement with respect to the exploitation of the copper with the CVG. Also, if the MIBAM grants the right to exploit the copper contained in the Las Cristinas Deposits to a third party, or if the MIBAM grants the right to exploit the copper contained in the Las Cristinas Deposits to the CVG and the CVG grants the right to exploit the copper to a third party, there can be no assurance that the Company will be successful under Venezuelan law in asserting that its right to exploit the gold contained in the Las Cristinas Deposits takes precedence over the third party's right to exploit the copper.
Proposed Amendments to Mining Laws
In 2005, the Government of Venezuela announced that it would be changing the mining title regime from a system where title was granted in the form of either concessions or operating contracts to a system where all ''new'' economic interests would be granted in the form of operating contracts. In order to effect this change, the Government of Venezuela advised that it would need to create a national mining company which would be the nation's contracting party covering the entire country of Venezuela. The Government of Venezuela also indicated that, given this change in title regime, it would also be appropriate to review all existing mining companies in a single comprehensive exercise to ensure that only companies found to be in compliance with their existing title terms and conditions would continue to qualify under the new regime on the same terms and conditions. The Government of Venezuela further stated that all those companies found not to be in compliance would have their operations turned over to small mining cooperatives supported by the Government of Venezuela via the national mining company. The MIBAM issued its formal approval of the technical, economic and financial aspects of Las Cristinas on March 26, 2006.
The MIBAM presented draft amendments to the mining law to the National Assembly at the end of May 2006. This draft was superseded by a National Assembly draft, which has received a first reading in the National Assembly. The National Assembly will require further readings of the draft amendments which the Government has stated will likely take place in 2007. Although the Company's Venezuelan counsel have advised that the current draft of amendments to the mining law will not have any negative impact on the Company's rights under the Mine Operation Agreement, until such time as the National Assembly has passed the amendments into law it is not possible to assess what impact, if any, the revised law will have on the Las Cristinas project.
Arbitration Proceedings
The Company is a party that is interested in, but is not a party to, an ongoing arbitration. See ''Legal Proceedings -- Withdrawal of MINCA Litigation -- Vanessa Arbitration'' in the Company's 2005 40F/Annual Information Form, available electronically at www.sedar.com
Sale of Gold
For the past several years the Company sold all of its Venezuelan gold production to the Central Bank of Venezuela. In June 2006 the Central Bank of Venezuela temporarily suspended the purchase of gold from the Company. In August 2006, the Central Bank recommenced purchasing gold from the Company. During the period when the Central Bank suspended purchases, the Company sold its gold to accredited third parties within Venezuela. The Company is updating registration of its export licence which will also allow it to export and sell gold outside of Venezuela. Pending the update of its export licence, should the Company be unable to sell gold within Venezuela, it could have an adverse effect on the Company's revenues, cash flow and profitability in the short-term.
Unauthorized Miners
The Company's operations may also be affected by the presence of unauthorized miners; something that is not uncommon in the gold mining areas of the Guyana Shield area of Venezuela. The methods used by unauthorized miners to extract gold are typically harmful to the environment and may be disruptive of authorized mining operations. Although the Company, in conjunction with the local authorities, employs strategies to control the presence of unauthorized miners, there can be no assurance that these strategies will be successful or that the Company's operations will not be adversely affected by the presence of unauthorized miners.
Imataca Forest Reserve
In addition to the general risks associated with environmental regulation and liability (see "Environmental Regulation and Liability" under General Risk Factors below), the Las Cristinas Deposits are located within the Imataca Forest Reserve (the "Reserve"). On September 22, 2004 Presidential Decree 3110, which establishes an ordinance plan and regulations for the use of the Reserve, permits various activities (including mining) in up to 13% of the Reserve and establishes the legal framework for such activities, was issued. Presidential Decree 3110 was issued in response to previous Presidential Decree 1850, the latter of which was issued in May 1997. Decree 1850 reserved an even larger part of the Reserve for various activities and became subject to a legal challenge before the Venezuelan Supreme Court. The Venezuelan Supreme Court issued a prohibition order on November 11, 1997 prohibiting the relevant government authorities from granting concessions, authorization and any other acts relating to various mining activities in the Reserve under Decree 1850 until the Venezuelan courts ruled on the merits of the nullity action. It is possible that Presidential Decree 3110 could be similarly challenged and that such challenge, if ultimately successful, could prevent the Company from exploiting or fully exploiting the Las Cristinas Deposits.
Venezuelan Decree No. 1257 establishes the environmental assessment requirements for mining projects. The Company was advised that the Las Cristinas project is not a new project and, accordingly Article 40 of Decree 1257 does not apply since no significant increase in environmental impact is predicted.
General Risk Factors
Title to Mineral Properties
Acquisition of title to mineral properties is a very detailed and time-consuming process. Title to, and the area of, mineral properties may be disputed or impugned. Although the Company has investigated its title to the mineral properties for which it holds concessions or mineral leases or licenses, there can be no assurance that the Company has valid title to such mineral properties or that its title thereto will not be challenged or impugned. For example, mineral properties sometimes contain claims or transfer histories that examiners cannot verify, and transfers under foreign law are often complex. The Company does not carry title insurance with respect to its mineral properties. A successful claim that the Company does not have title to a mineral property could cause the Company to lose its rights to mine that property, perhaps without compensation for its prior expenditures relating to the property. Furthermore, as noted above under ''Mine Operation Agreement -- Lack of Ownership Rights,'' the Mine Operation Agreement does not transfer any property ownership rights to the Company.
Environmental Regulation and Liability
The Company's activities are subject to laws and regulations controlling not only mineral exploration and exploitation activities themselves but also the possible effects of such activities upon the environment. Environmental legislation may change and make the mining and processing of ore uneconomic or result in significant environmental or reclamation costs. Environmental legislation provides for restrictions and prohibitions on spills, releases or emissions of various substances produced in association with certain mineral exploitation activities, such as seepage from tailings disposal areas that could result in environmental pollution. A breach of environmental legislation may result in the imposition of fines and penalties or the suspension or closure of operations. In addition, certain types of operations require the submission of environmental impact statements and approval thereof by government authorities. Environmental legislation is evolving in a manner which may mean stricter standards and enforcement, increased fines and penalties for non-compliance, more stringent environmental assessments of proposed projects and a heightened degree of responsibility for companies and their directors, officers and employees. Permits from a variety of regulatory authorities are required for many aspects of mineral exploitation activities, including closure and reclamation. Future environmental legislation could cause additional expense, capital expenditures, restrictions, liabilities and delays in the development of the Company's properties, the extent of which cannot be predicted.
In the context of environmental permits, in particular the approval of closure and reclamation plans, the Company must comply with standards and laws and regulations which may entail costs and delays depending on the nature of the activity to be permitted and how stringently the regulations are implemented by the permitting authority. In accordance with applicable laws, the Company has provided various forms of financial assurances to cover the cost of reclamation activities. However, there can be no assurance that the Company will not incur reclamation costs that are in excess of such financial assurances. While the Company plans to establish a reserve for reclamation activities, there can be no assurance that the combination of the reserve and financial assurances will be sufficient to meet future reclamation standards, if such standards are materially more stringent than existing standards. The Company does not maintain environmental liability insurance. The Company has adopted high standards of environmental compliance, however, failure with or unanticipated changes in Venezuela's laws and regulations pertaining to the protection of the environment in the future could adversely affect the Company.
Additional Funding Requirements
Under the terms of the Mine Operation Agreement, the Company is required, among other things, to make all necessary investments and complete all works necessary to reactivate the Las Cristinas Deposits, to design, construct and operate a processing plant to process gold for its subsequent commercialization and sale and to return the mine, its installations and equipment to the CVG upon termination of the Mine Operation Agreement. In order to carry out the Las Cristinas project and its other mining projects, the Company will need to raise substantial additional financing which may include one or more of non-recourse project debt and other forms of public markets debt and equity.
In September 2005 the Company issued C$10.0 million of 5% unsecured notes due March 13, 2006 to Azimuth Opportunity, Ltd ("Azimuth") and established a C$60.0 million equity draw down facility with the same entity. The agreements between Azimuth and the Company stipulate that, until the C$10.0 million principal value of the unsecured notes has been repaid, 50% of the proceeds of each draw under the equity draw down facility shall be applied to repay the unsecured notes. During the fourth quarter of 2005 the Company received gross proceeds of C$21.6 million under the equity draw down facility, a portion of which was used to repay the outstanding C$10.0 million principal value of the unsecured notes. In January 2006 the Company raised additional gross proceeds of C$5.0 million under the equity draw down facility. In February 2006 the Company received gross proceeds of U.S.$31.3 million under a private placement of units. In July 2006, the Company received net proceeds of 26.9 million from a unit offering of common shares and common share purchase warrants. During the third quarter of 2006, the Company received proceeds of $21.3 million from the exercise of common share purchase warrants. Despite these financings, the Company currently has limited financial resources and there can be no assurance that sufficient additional financing will be available to the Company on acceptable terms or at all. Failure to obtain such additional financing could result in a delay or the indefinite postponement of the Las Cristinas project and oth
SeekingAlpha
Crystallex Las Crisitnas Permit Virtually Guaranteed; Shares Jump on News
Wednesday November 15, 2:53 pm ET
Ant & Sons submits: Crystallex Corp. (AMEX: KRY - News) reported earnings late yesterday, announcing a net loss for the third quarter of $8.8 million, albeit less than the company's loss last year of $10.3 million during the same period. Despite the earnings release, shares of Crystallex are catching some momentum, higher by $.41, or 14.34%, to $3.27 on volume of more than seven million shares.
What is really moving the stock is the fact that Crystallex updated shareholders and commented on the company's recent progress and activities, specifically its progress towards receiving a mining permit for its Las Cristinas operation. Todd Bruce, Crystallex President and CEO noted that the company attended the recent Venezuelan Canadian Business Forum and that dialogue was "extremely constructive." Crystallex management was able to speak with representatives of the Ministry of Environment and Natural Resources (MARN) and confirm that MARN "is expediting the process to issue the permit as soon as possible." Mr. Bruce continued by saying that Crystallex has "completed the agreements in principle to implement six joint regional projects and have officially submitted these agreements to MARN, MIBAM, the CVG, the Ministry of Basic Industries and Mining and the Canadian Ambassador."
Despite the troubled past Crystallex has had in gaining approval, these statements should clear any doubt as to the future issuance of a permit to Crystallex. The stock is certainly reflecting this optimism and should finally be able to trade without the uncertainty over the permit weighing down on Crystallex shares.
*************************************************
52wk Range: 1.48 - 6.25
Volume: 9,007,900
Avg Vol (3m): 2,134,900
Technicals
Most Actives
Percentage Gainer
Last Price Quote is:
12.18%above 13-day MA
12.36%above 50-day MA
RS Rating: 87
Fundamentals
Key Data:
Market Cap (M): $660.93
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/A
KRY Threads have been Merged.
Please use the search before starting new threads on a Stock Pick.
Chances are a thread already exist.
So why not post whatever you have to comment about on that pick to that thread.
"Simplicity" My fellow traders. ;D
All history on a stock pick in 1 thread is awesome. ;)
Thank You....and good luck with all your trades....make some $$$
KRY, shares continue to move substantially higher as investors await news from the company regarding its Las Cristinas mining permit. The company last stated on November 15 that it was progressing towards receiving a mining permit and that it had confirmed the Ministry of Environment and Natural Resources , is expediting the process to issue the permit as soon as possible.
Institutions buying in. Chavez >:D is not a real worry, he won't mess with what earns him money for now (gold and oil)..... :P
The stock is up 8.89% on heavy volume of 8.3 million shares compared to daily average volume of 2.7 million shares.
52wk Range: 1.80 - 6.25
Volume: 8,362,500
Avg Vol (3m): 2,703,130
Support @ $3.74...3.43...3.34
Resistance @ $4.50
Technicals
MACD is Bullish
Stochastic is Bullish
Most Actives
Percentage Gainer
Last Price Quote is:
19.42%above 13-day MA
31.65%above 50-day MA
RS Rating: 96
Fundamentals
Key Data:
Market Cap (M): $660.93
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/A
Below is the 6 month and 1 year charts.
Still in an uptrend, bouncing off the 200-day MA.
The stock is off of its high of $6.25 back in April. It has suffered setbacks due to its mining location in Venezuela.
52wk Range: 1.80 - 6.25
Volume: 3,820,500
Avg Vol (3m): 2,620,470
Technicals
Most Actives
Percentage Gainer
Last Price Quote is:
5.53%above 13-day MA
15.77%above 50-day MA
RS Rating: 86
Fundamentals
Key Data:
Market Cap (M): $660.93
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/A
Here is a 6 month and 3 year chart....
Indicators moving toward a "Golden Cross"
Higher gold prices pushed shares of miners like Entree Gold Inc. and Crystallex International Corp. sharply higher.
Gold prices rose due to the uncertainty in Iran as investors fled to safety. Entree Gold rose 19 cents, or 13 percent, to $1.70, while Crystallex rose 17 cents, or 4.8 percent, to $3.81. Both trade on the American Stock Exchange.
Looks to have formed a Cup with Handle.....
I was sitting today looking at the bottom of my watchlist, when all of a sudden KRY dropped down in front of my nose.
Whoa!
Feverishly placed a buy-order, and got a tiny portion at 3.13 - no time for reflection or checking on the news, just buy!
It's on your wish-list, stupid! Buy!
One gets lucky sometimes!
It turned out to be a fine buy, and maybe the basis for a later supplement.
On checking the news, I found this:
http://www.billcara.com/archives/2007/01/chavez_pushes_a_hot_button_mon.html
We'll see if I did something stupid by rushing like this. Crossing my fingers.
In my opinion it is suicidal to invest your money on anything that could be even remotely related with that bipolar and disfunctional Hugo Chavez. He is the total psycho.
Hugo Chavez tiene el coco loco.
Quote from: cocoloco69 on January 09, 2007, 01:15:24 AM
In my opinion it is suicidal to invest your money on anything that could be even remotely related with that bipolar and disfunctional Hugo Chavez. He is the total psycho.
Hugo Chavez tiene el coco loco.
I am not afraid of Hugo Chavez.
I actually admire him quite a bit!
It seems to me that he is doing what any leader of a poor country with great natural resources should do: Keeping the money in the country, instead of letting big, foreign companies hoard the wealth abroad. Venezuela has done a lot better with him as president, than she ever have done before.
We'll see if buying KRY was a suicidal thing to do. It gave me 8.94% yesterday, so I'm not complaining - yet.
KRY is recovering today.
And an opinion: http://www.antandsons.com/2007/01/time-to-buy-crystallex-hand-over-fist.html
January 10, 2007
Time to Buy Crystallex Hand Over Fist?
Late Monday, Crystallex Corp. (AMEX: KRY) shares took a plunge in the last few minutes of trading as word reached the investment community that Venezuelan President Hugo Chavez planned to nationalize the country's electrical and telecommunications companies, cratering shares of Venezuelan telephone company CANTV (NYSE: VNT). The news sparked fears that Chavez would also "socialize" the mining business. However, Crystallex quickly responded with management fighting back and stating that nothing had changed the status of their Las Cristinas mining operation. This back and forth mirrors the historical pattern in which Crystallex shares have been affected by Chavez comments. Take the following dates;
A. September 2005
Venezuelan President Hugo Chavez made comments that his government would cancel all mining licenses and stop issuing new ones to foreign companies, as well as accusing them of gaining rights to mines and then subsequently failing to work the mines.
B. June 2006
Word of possible revisions to the Venezuelan mining law, namely the incorporation of mixed companies as an exploitation structure in the mining sector in which the government stake in such mixed companies would be at least 51%.
Each of those times, the company forcefully responded and each time, those threats have never materialized and Crystallex has moved closer and closer to securing a permit for its Las Cristinas gold project. Though the share price was virtually cut in half each time, the effects were only short lived and the stock price dramatically appreciated (upwards of 100%) within six months. With the Ministry of Environment and Natural Resources expediting the process to issue a permit, Crystallex is as close as ever to launching the construction and operating phase at Las Cristinas. Though Crystallex is not a stock for those faint of heart, the potential for a good return awaits patient investors.
I still like gold: KRY ;D CDE, MNG ;)
Well, setravis. It seems KRY has been "Cramerized" but i'll hold on to mine. >:D
Cramer Dumps Crystallex, Opts For Yamana Gold Instead
Posted on Jan 17th, 2007 with stocks: AUY, KRY
Ant & Sons submits:
Crystallex Corp. (KRY) has officially been dumped by Jim Cramer, investment guru and host of CNBC's popular Mad Money television show. Quoting from his Mad Money Lightning Round segment last night, Cramer said that he has "walked away from Crystallex and endorsed Yamana" because President Hugo Chavez of Venezuela "has proven to be a recalcitrant, pseudo-Communist."
Yamana Gold Inc. (AUY) shares are already higher by 1.7% today, while Crystallex is falling 6.47% on heavy volume of 3.7 million shares. Though Cramer has bailed on Crystallex because of Venezuela's unstable political situation, we at Ant & Sons feel there is no reason to believe that a permit for the company's Las Cristinas mining operation is in jeopardy.
Another day with nervous investors.... ::)
Venezuela Also Eyeing Nationalization Of Mining - Minister
Dow Jones Newswires - January 18, 2007 1:53 PM ET
RIO DE JANEIRO (Dow Jones)--Venezuela, in addition to planning the nationalization of other key sectors of the economy, eyes the nationalization of the mining industry, the country's foreign minister said Thursday.
"The basic industries of minerals should be in the hands of the national state," Foreign Minister Nicholas Maduro said. He spoke at the sidelines of a summit of leaders of the Common Market of the South, or Mercosur trade block, taking place here Thursday and Friday.
Maduro, however, didn't elaborate on the issue of nationalizing the mining industry.
A number of Canadian, U.S. and Brazilian mining companies are operating in Venezuela.
...and today's excitement was a
FAKE post on yahoo's messageboard:
I'll post it for your amusement/information, in case yahoo decides to remove it. Remember, that it is a
FAKE! "Preliminary" Permit Received... (4 Ratings) 30-Jan-07 01:08 pm
DJ Venezuela Mining Min: Crystallex Receives "Preliminary" Permit
CARACAS (Dow Jones)--Canadian mining firm Crystallex International Corp. (KRY) has been granted a preliminary environmental permit to begin exploiting the Las Cristinas gold mine in the east of the country, the country's mining minister said on Tuesday.
"Right now, Crystallex is able to proceed with preliminary construction with the final environmental permit to be issued shortly," said Mining Minister Jose Khan, speaking to reporters in Caracas.
Khan said the state is no longer looking to set up a National Mining Company to regulate the mining industry.
Concerning Las Cristinas, where Crystallex plans to operate, he said the government is "reviewing" the property and said that Hugo Chavez is "cooling on the idea" of mining the property. Rather, he is "leaning toward" filling the mine with water and soaking his fat ass in it.
-By Raul Gallegos, Dow Jones Newswires; 58-212-564-1339;
[email protected];
(END) Dow Jones Newswires
January 30, 2007 13:01 ET (18:01 GMT)
Copyright (c) 2007 Dow Jones & Company, Inc.- - 01 01 PM EST 01-30-07
**************************************
Pretty soon after, a denial came out (This is real enough, I copied it off of e*trade's news ;))
***************************************
Crystallex's Share Price Jumps On Fraudulent News Report
Dow Jones Newswires - January 30, 2007 3:32 PM ET Related Quotes
Symbol Last Chg
KRY Trade 2.88 +0.07
Real time quote.
CARACAS (Dow Jones)--A fraudulent news story Tuesday on the Venezuelan operations of Canadian miner Crystallex International Corp. (KRY) pushed the company's share price up nearly 10% before profit-taking pared the gains.
The fake article, which resembled a Dow Jones Newswires report, claimed that Venezuela had at last approved a long-awaited environmental permit for Crystallex to begin exploiting the Las Cristinas gold mine.
The phony report was posted on a Yahoo message board. Shortly after it appeared, Crystallex's share price on the American Stock Exchange rose as high as 9.3% to $3.07 before the gains were trimmed. The stock stood at $2.96 per share, up 6.1%, at 3:23 p.m. EST.
Crystallex officials have denied the report. "As of now we're just fielding questions from investors," said Richard Marshall, vice president of investor relations for Crystallex. The company has yet to decide on other actions such as contacting the U.S. Securities and Exchange Commission, he said. "We'll bring it up with our board and to (legal) counsel to see what we can do."
The bogus story included a fabricated quote attributed to Venezuelan Mining Minister Jose Khan.
-By Raul Gallegos, Dow Jones Newswires; 58-212-564-1339;
[email protected]> Dow Jones Newswires
01-30-07 1530ET
Copyright (c) 2007 Dow Jones & Company, Inc.
***************************************
This stock is far from dead!!! Lots of people sitting out there just waiting for news. Today 6.000.000 shares was traded.
Amazing, what a message-board can do.....
Below you'll see the intraday chart.
Quote from: cumulina on January 30, 2007, 04:24:38 PM
...and today's excitement was a FAKE post on yahoo's messageboard:
I'll post it for your amusement/information, in case yahoo decides to remove it. Remember, that it is a FAKE!
cumulina,
Wow, that's amazing! :o
Technically, KRY broke below a Symmetrical Triangle (pattern in red), coming off the top of the channel, then broke below the validated trendline of the channel (in blue), the day before it got "Cramerized."
That break suggest a re-test of the 1.95 low.
The bottom of the channel, which now is at about 3.20, has been acting as resistance since that break, which isn't good. The intraday highs have failed, right there.
Above that, there's resistance at the 50/200DMAs, currently at 3.39 - 3.42, and then at the bottom of the broken Symmetrical Triangle, at 3.47.
Absent REAL good news, 3.20-3.47 looks to be tough resistance, given the channel break and the intraday failures to regain the channel since then. "Former support has become resistance."
Good luck! I hope that you get some REAL good news! ;)
Breakout above the 50-day level.......
Stop $3.10. Big breakout above the 50-day level. MACD rising. I think they are close to announcing approval of their Venezuela gold mine, which is why the stock is up big on "no news."
52wk Range: 1.95 - 6.25
Volume: 7,686,500
Avg Vol (3m): 4,050,410
Technicals
Close Above the 50-day EMA
Most Actives
Percentage Gainer
Last Price Quote is:
9.98%above 13-day EMA
4.68%above 50-day EMA
RS Rating: 84
Fundamentals
Key Data:
Market Cap (M): $660.93
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/A
this is ready...a lot of accumulation on friday >:D
KRY is up 17% on no particular news... (Also one of the most traded stock on the CNBC portfolio challenge)
The company has appointed a new CEO last week... Could that be the reason?
Livana, I do think this may have helped the case.
Back above the 50-day MA
Indicators have taken a nice turn north.
52wk Range: 1.95 - 6.25
Volume: 5,647,700
Avg Vol (3m): 3,266,090
Technicals
>Close Above the 50-day MA....<
>Close Above the 13-day MA....<
Most Actives
Percentage Gainer
Last Price Quote is:
9.81%above 13-day MA
3.77%above 50-day MA
RS Rating: 12
Fundamentals
Key Data:
Market Cap (M): $660.93
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/
Press Release Source: Crystallex International Corporation
Crystallex Comments on Recent Market Activity
Wednesday March 28, 3:07 pm ET
TORONTO, ONTARIO--(MARKET WIRE)--Mar 28, 2007 -- Crystallex International Corporation (Toronto:KRY.TO - News)(AMEX:KRY - News) issued today the following statement concerning the increase in its stock price and trading volume:
"Crystallex is aware that Gold Reserve Inc (Toronto:GRZ.TO - News) (AMEX:GRZ - News) today announced that its Brisas Project had been awarded the Environmental Approval and Construction Permit from the Ministry of the Environment and Natural Resources ("MARN").
Commenting on the news, Gordon Thompson, Crystallex President and CEO stated, "The awarding of the Brisas environmental permit is a clear signal that Venezuela is fulfilling its promise to advance mining projects. Crystallex is in the final stages of environmental permitting for the Las Cristinas project and looks forward to the timely conclusion of the permitting process at MARN."
About Crystallex
Crystallex International Corporation is a Canadian based gold producer with significant operations and exploration properties in Venezuela. The Company's principal asset is the Las Cristinas property in Bolivar State that is currently under development and which is expected to commence commercial gold production in 2009 at an initial annualized rate of some 300,000 ounces at the initial planned production rate of 20,000 tonnes of ore per day. Other key assets include the Tomi Mine, certain Lo Increible properties and the Revemin Mill. Crystallex shares trade on the TSX (symbol: KRY) and Amex (symbol: KRY) Exchanges.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws, including: statements relating to the estimated reserves and resources at Las Cristinas; anticipated results of drilling programs, feasibility studies or other analyses; the potential to increase reserves and expand production, at Las Cristinas; Crystallex's projected construction and production schedule, and cost and production estimates, for Las Cristinas; and management's statements regarding its expectations regarding mining in Venezuela. Forward-looking statements are based on estimates and assumptions made by Crystallex in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that Crystallex believes are appropriate in the circumstances. Many factors could cause Crystallex's actual results, performance or achievements to differ materially from those expressed or implied by the forward looking statements, including: gold price volatility; impact of any hedging activities, including margin limits and margin calls; discrepancies between actual and estimated production, between actual and estimated reserves, and between actual and estimated metallurgical recoveries; mining operational risk; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign investment; speculative nature of gold exploration; dilution; competition; loss of key employees; additional funding requirements; and defective title to mineral claims or property. These factors and others that could affect Crystallex's forward-looking statements are discussed in greater detail in the section entitled "Risk Factors" in Crystallex's Annual Information Form (which is included in the Annual Report on Form 40-F that Crystallex files with the United States Securities and Exchange Commission (the "SEC") and elsewhere in documents filed from time to time with the Canadian provincial securities regulators, the SEC and other regulatory authorities. These factors should be considered carefully, and persons reviewing this press release should not place undue reliance on forward-looking statements. Crystallex has no intention and undertakes no obligation to update or revise any forward-looking statements in this press release, except as required by law.
Contact:
Contacts:
Crystallex International Corporation
Investor Relations Contact:
Richard Marshall, VP
1-800-738-1577
Email:
[email protected] Website: http://www.crystallex.com
--------------------------------------------------------------------------------
Source: Crystallex International Corporation
Gold will continue in a Bull Market.......
KRY will one day have it's day.
52wk Range: 1.95 - 6.25
Volume: 30,674,710
Avg Vol (3m): 3,184,800
Technicals
Most Actives
Percentage Gainer
Last Price Quote is:
30.58%above 13-day MA
27.82%above 50-day MA
RS Rating: 65
Fundamentals
Earnings Expected on Apr 6
Key Data:
Market Cap (M): $660.93
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/A
Crystallex Announces C$36 Million Bought Deal Financing>KRY.T
08:40 EST Thursday, Mar 29, 2007
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DOW JONES NEWSWIRES
Crystallex International Corp. (KRY) plans a bought-deal offering of 8.5 million shares at C$4.25 each for gross proceeds of C$36.1 million.
The Toronto-based gold producer said the syndicate of underwriters for the offering, led by Orion Securities Inc., will be granted an over-allotment option to purchase up to another 1,275,000 shares for 30 days from closing.
Crystallex plans to use the net proceeds to develop the Las Cristinas Project in Venezuela, to repay a portion of existing debt and for general corporate purposes.
The offer is expected to close on about April 24.
According to the TSX Web site, Crystallex has about 246.2 million shares outstanding.
Permit expected soon.......
Todd MacSween submits: Crystallex (KRY) could be within days of the environmental permit needed to start building their Las Cristinas gold mine in Venezuela.
The celebration for Crystallex shareholders is set to begin. After watching breaking news of Gold Reserves (GRZ) environmental permit being granted, shareholders of Crystallex were expecting instant approval as well. Since Crystallex is partnered with the CVG the process is taking a bit longer. Comments made by Gordon Thompson regarding getting the permit soon started to be questioned once again, but this time 'soon' really does mean soon. At the Latin American Mining Congress in Miami Gordon Thompson summarized their position to date.
The CVG submitted all official documents needed for the completion of the permit process 5 to 6 weeks ago to MARN officials. Reviews of these documents have taken place and as part of the final process a site inspection has occurred last Friday April 27th 2007. How soon can the permit be granted? Gold Reserve, owner of the Las Brisas mining concession, just recently went through the same process in order to obtain their environmental permit. Upon site inspection the permit was granted approx ten days later.
As stated by Gordon Thompson the permit is expected to be granted soon.
Support @ $3.97...3.80...3.67
Resistance @ $4.32
52wk Range: 1.95 - 5.26
Volume: 8,031,121
Avg Vol (3m): 4,099,440
Technicals
Most Actives
Percentage Gainer
MACD is Bullish
Last Price Quote is:
6.99%above 13-day MA
15.47%above 50-day MA
RS Rating: 96
Fundamentals
Earnings Expected on May 10
Key Data:
Market Cap (M): $660.93
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/A
Nice little run-up this morning! :)
uc.
Press Release Source: Crystallex International Corporation
Crystallex International Corporation Will Propose PricewaterhouseCoopers as Auditor;
Thursday May 17, 12:31 pm ET
Annual & Special Meeting date changed to June 28, 2007
TORONTO, ONTARIO--(MARKET WIRE)--May 17, 2007 -- Crystallex International Corporation (Toronto:KRY.TO - News)(AMEX:KRY - News) - announced today that based on the recommendation of the Audit Committee, the Board of Directors will propose the appointment of PricewaterhouseCoopers LLP ("PwC") as its new independent registered public accounting firm to the shareholders for their approval at the upcoming Annual & Special Meeting. The appointment is subject to completing professional and regulatory requirements.
Crystallex has rescheduled the date of its Annual & Special Meeting ("meeting") to June 28th, 2007, so that the proposal of the Board of Directors can be included in the Annual shareholder meeting materials. The record date for shareholders entitled to vote at the meeting is May 22, 2007. The meeting will be held at 9:30am in the Windsor Ballroom, Le Royal Meridien King Edward Hotel, 37 King Street East, Toronto, ON, M5C 1E9.
About Crystallex
Crystallex International Corporation is a Canadian based gold producer with significant operations and exploration properties in Venezuela. The Company's principal asset is the Las Cristinas property in Bolivar State that is currently under development and which is expected to commence gold production in 2009 at an initial annualized rate of some 300,000 ounces at the initial planned production rate of 20,000 tonnes of ore per day. Other key assets include the Tomi Mine, certain Lo Increible properties and the Revemin Mill. Crystallex shares trade on the TSX (symbol: KRY) and AMEX (symbol: KRY) Exchanges.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws, including: statements relating to the estimated reserves and resources at Las Cristinas; anticipated results of drilling programs, feasibility studies or other analyses; the potential to increase reserves and expand production at Las Cristinas; Crystallex's projected construction and production schedule, and cost and production estimates for Las Cristinas; and management's statements regarding its expectations regarding mining in Venezuela. Forward-looking statements are based on estimates and assumptions made by Crystallex in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that Crystallex believes are appropriate in the circumstances. Many factors could cause Crystallex's actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including: gold price volatility; impact of any hedging activities, including margin limits and margin calls; discrepancies between actual and estimated production, between actual and estimated reserves, and between actual and estimated metallurgical recoveries; mining operational risk; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign investment; speculative nature of gold exploration; dilution; competition; loss of key employees; additional funding requirements; and defective title to mineral claims or property. These factors and others that could affect Crystallex's forward-looking statements are discussed in greater detail in the section entitled "Risk Factors" in Crystallex's Annual Information Form (which is included in the Annual Report on Form 40-F that Crystallex files with the United States Securities and Exchange Commission (the "SEC")) and elsewhere in documents filed from time to time with Canadian provincial securities regulators, the SEC and other regulatory authorities. These factors should be considered carefully, and persons reviewing this press release should not place undue reliance on forward-looking statements. Crystallex has no intention and undertakes no obligation to update or revise any forward-looking statements in this press release, except as required by law.
Contact:
Contacts:
Investor Relations Contact:
Crystallex International Corporation
A. Richard Marshall, VP
1-800-738-1577
Email:
[email protected] Website: http://www.crystallex.com
--------------------------------------------------------------------------------
Source: Crystallex International Corporation
"KRY" Threads have been Merged.
Please use the search before starting new threads on a Stock Pick.
Chances are a thread already exist.
So why not post whatever you have to comment about on that pick to that thread.
"Simplicity" My fellow traders. ;D
All history on a stock pick in 1 thread is awesome. ;)
Just trying to get threads together,so we don't have a numerous amount floating around on the same stock. :( ::)
Thank You....and good luck with all your trades....make some $$$ ;) ;D
I will leave you with Friday's closing while I'm in this thread.......
Rebounding....... 8)
This company is highly speculative but this may be good time to speculate. Downside limited and upside high.
Company commented on August 20 that the company is not aware of any adverse corporate developments - other than general stock market conditions - which could account for the recent trading activity and that, to its knowledge, the process for the issuance of the environmental permit for Las Cristinas remains on track.
Progress seems to move slow for our friends across the border. Must be the hot weather! ;D ;)
Be patient and wait for good news... ;)
52wk Range: 2.22 - 5.25
Volume: 2,989,600
Avg Vol (3m): 3,122,040
Technicals
Most Actives
Percentage Gainer
Last Price Quote is:
1.24%above 13-day MA
-13.89%below 50-day MA
RS Rating: 5
Fundamentals
Key Data:
Market Cap (M): $660.93
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: 11/13/2007
Last Analyst Rating: N/A
Bought KRY Friday @3.21 Chart looks ready for the next run up
Quote from: wrangler on October 14, 2007, 01:15:21 PM
Bought KRY Friday @3.21 Chart looks ready for the next run up
Getting a lot of buyers on this one today. Shouldn't be to much longer till it gets back at my buy price. Over 10 million shares so far.
Friday's Small-Cap Winners & Losers
By Sarina Penn
TheStreet.com Staff Reporter
10/26/2007 5:39 PM EDT
One of the most heavily traded small-cap winners in a buoyant Friday session was Crystallex International (KRY - Cramer's Take - Stockpickr - Rating).
Shares of the gold miner shot up 17.4% to $3.10 on promising news regarding its ongoing attempts to get construction and development permits for its Las Cristinas project in Venezuela. After holding hearings on the issue earlier this month, according to the company, the chairman of a Venezuelan National Assembly commission "reiterate [d] demands to the Ministry of Environment to grant the corresponding license, thus allowing the mining development to begin."
Quote from: wrangler on October 26, 2007, 01:49:32 PM
Quote from: wrangler on October 14, 2007, 01:15:21 PM
Bought KRY Friday @3.21 Chart looks ready for the next run up
Getting a lot of buyers on this one today. Shouldn't be to much longer till it gets back at my buy price. Over 10 million shares so far.
Quote from: setravis on March 28, 2007, 05:33:48 PM
Gold will continue in a Bull Market.......
KRY will one day have it's day.
Wrangler,
I think you made a smart investment move... ;) Applaud !! ;)
The indicators are looking great on the chart.
Traded 5 X avg. volume today... ;D ...Volume don't lie !
KRY is the company sitting on the huge gold mine, awaiting an environmental permit from the Venezuelan government. It appears that permit might be nearing. When it comes, the stock will probably double within a few days. JMHO of course, Do your own DD !
52wk Range: 2.22 - 5.25
Volume: 13,973,000........ ;D
Avg Vol (3m): 2,446,860
Technicals
Close Above the 50-day MA....... ;)
Close Above the 13-day MA....... ;)
Most Actives
Percentage Gainer
Last Price Quote is:
9.25%above 13-day MA
3.48%above 50-day MA
RS Rating: 14
Fundamentals
Key Data:
Market Cap (M): $660.93
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: 11/13/2007
Last Analyst Rating: N/A
Ascending Triangle (Continuation) Pattern
The ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern. There are instances when ascending triangles form as reversal patterns at the end of a downtrend, but they are typically continuation patterns. Regardless of where they form, ascending triangles are bullish patterns that indicate accumulation.
Because of its shape, the pattern can also be referred to as a right-angle triangle. Two or more equal highs form a horizontal line at the top. Two or more rising troughs form an ascending trend line that converges on the horizontal line as it rises. If both lines were extended right, the ascending trend line could act as the hypotenuse of a right triangle. If a perpendicular line were drawn extending down from the left end of the horizontal line, a right triangle would form.
In contrast to the symmetrical triangle, an ascending triangle has a definitive bullish bias before the actual breakout. If you will recall, the symmetrical triangle is a neutral formation that relies on the impending breakout to dictate the direction of the next move. On the ascending triangle, the horizontal line represents overhead supply that prevents the security from moving past a certain level. It is as if a large sell order has been placed at this level and it is taking a number of weeks or months to execute, thus preventing the price from rising further. Even though the price cannot rise past this level, the reaction lows continue to rise. It is these higher lows that indicate increased buying pressure and give the ascending triangle its bullish bias.
Thanks Setravis for confimimg my thoughts on KRY. I'm really counting on the approval to start mining development of Las Cristinas
After Hours for KRY
Last: $ 3.13 After Hours
High: $ 3.15
After Hours
Volume: 54,100 After Hours
Low: $ 3.08
Trying to breakout,,had a high of 3.50 but has since pulled back to3.33 if it doesn't today maybe tomorrow. Volume still looking good
I bought some JAN08 calls for KRY; awaiting for that rewarding press release. ;P Good luck all. Lots of volume again today.
Cheers,
Quote from: labatts6254 on October 29, 2007, 09:20:40 PM
I bought some JAN08 calls for KRY; awaiting for that rewarding press release. ;P Good luck all. Lots of volume again today.
Cheers,
Don't know anything about options,,hope to learn one of these days.
Goodluck with your trade
These low-priced stocks will outperform the market.......Make some change ;) ;D
Crystallex International (AMEX: KRY)
Zix (Nasdaq: ZIXI)
Beacon Power (Nasdaq: BCON)
KRY, Base + Possible News (Long Recommendation)
If they get the permit from the govt, this thing will fly. Upside way higher than downside risk.
52wk Range: 2.22 - 5.25
Volume: 9,486,900
Avg Vol (3m): 2,506,540
Technicals
Most Actives
Percentage Gainer
Last Price Quote is:
13.83%above 13-day MA
11.16%above 50-day MA
RS Rating: 27
Fundamentals
Key Data:
Market Cap (M): $660.93
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: 11/13/2007
Last Analyst Rating: N/A
Hi Setravis
Have you got a position in KRY. I think it will be a home run. Volume tells the story that is about to happen.
Quote from: wrangler on October 29, 2007, 11:29:34 PM
Hi Setravis
Have you got a position in KRY. I think it will be a home run. Volume tells the story that is about to happen.
Oh yes ! 8)
To all holding JMO : Classic example of some taking off the table. Compare volume so far today with last two days and you'll see,,traders taking some profit to look for another trade and keeping the rest. There's no reasong for the fall other than that ..Could also be some stock manipulation by M&Ms to get some nervous investors to sell so they can grab their shares.
As for me and my shares,,,I'm holding
I like how things are looking here and will be taking a position tomorrow if the price is right(under 3$).. Good Luck Boys!! ;)
Quote from: Mo~Money on October 30, 2007, 08:09:05 PM
I like how things are looking here and will be taking a position tomorrow if the price is right(under 3$).. Good Luck Boys!! ;)
Goodluck if you can get it below 3.00. Todays fall didn't scare that many. There might be one more down day but I don't see it lasting for long.
The only thing that will bring this down will be some negative report of some kind.
Quote from: wrangler on October 30, 2007, 08:30:12 PM
Quote from: Mo~Money on October 30, 2007, 08:09:05 PM
I like how things are looking here and will be taking a position tomorrow if the price is right(under 3$).. Good Luck Boys!! ;)
Goodluck if you can get it below 3.00. Todays fall didn't scare that many. There might be one more down day but I don't see it lasting for long.
The only thing that will bring this down will be some negative report of some kind.
Just got in from work and seen how KRY traded for the day and seen it went down as low as 3.01. Mo~Money has me wondering if it might fall below 3.00 so I decided to take another position if it does. The chart att. will show my trading plan. If my buy gets hit tomorrow I'll have to wait till after work to set my stop loss so hopefully it will come back up or not drop below that till I can set it.
Goodluck trading
The order will be a limit order as always,,Never use Market orders especially overnight market orders
In @3.02 today, called it close enough looks like the consolidating is coming to a close.. Glad to be with ya boys, lets make some dough!! ;)
Hello! ... mind if i tag along? i have a position in kry also been setting it up for about a month now. i'm sitting around 3.02 myself. i'm new to the market, well about a couple years into it.
My buy limit order didn't get hit to day and volume is beginning to dry up for sellers. It looks like 3.00 may be the low.I already have one position so I'll be happy with that one. I'll continue the limit order @2.95 just in case it might have one more day to hit.
Goodluck to all holding
CARACAS, Nov 8 (Reuters) - Canadian gold miner Crystallex (KRY.TO: Quote, Profile, Research)(KRY.A: Quote, Profile, Research) said on Thursday it expects to receive an environmental permit at any moment from the Venezuelan government to begin exploiting the Las Cristinas gold mine.
"All of the requirements are covered ... the permit should be assigned to us at any moment," Crystallex Venezuela President Luis Felipe Cottin told Reuters.
He said that the discussion in Congress of a new mining law will not affect the process of approving the environmental permit.
Cottin added that Crystallex could begin production at the mine within 18 to 22 months of starting operations.
Crystallex has struggled to get the mine to production since winning a contract in 2002 to develop the Las Cristinas deposit, considered one of the largest undeveloped gold reserves in Latin America.
Quote from: setravis on October 29, 2007, 09:49:34 PM
These low-priced stocks will outperform the market.......Make some change ;) ;D
Crystallex International (AMEX: KRY)
Zix (Nasdaq: ZIXI)
Beacon Power (Nasdaq: BCON)
KRY, Base + Possible News (Long Recommendation)
If they get the permit from the govt, this thing will fly. Upside way higher than downside risk.
Recovered ! ;)
Will pop when the permit is issued... ;)
Crystallex expects Venezuela mine permit any time.......
Venezuelan National Assembly's Commission of Economic Development has published a report following its October 4th, 2007 Las Cristinas hearings. The Chairman of the Committee reiterates demands to the Ministry of Environment to grant the corresponding license, thus allowing the mining development to begin. Stock will pop when the permit is officially issued. Wide swings = wide stop.
Crystallex International Corporation is a Canadian based gold producer with significant operations and exploration properties in Venezuela. The Company's principal asset is the Las Cristinas property in Bolivar State that is currently under development at the initial planned production rate of 20,000 tonnes of ore per day. Other key assets include the Tomi Mine, certain Low Incredible properties and the Revemin Mill.
52wk Range: 2.22 - 5.25
Volume: 5,486,913
Avg Vol (3m): 2,598,720
Technicals
13-day EMA Cross Above 50-day MA ;D
Close Above the 50-day MA ;D
Close Above the 13-day MA ;D
Most Actives
Percentage Gainer
Last Price Quote is:
5.39%above 13-day MA
5.54%above 50-day MA
RS Rating: 32
Fundamentals
Earnings Expected on Nov 13
Key Data:
Market Cap (M): $660.93
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: 11/13/2007
Last Analyst Rating: N/A
To all those who have held onto their shares ,,today might be the beginning of a reversal.
JMO
I still hold mine
About time KRY comes alive again but still has a way to go before it gets back to my buy price.
Still holding
Tested 50 MA today and fell back. Maybe soon we'll be back in 3.00 area
8:12AM Crystallex and Ministry of Environment begin discussions; National Assembly Committee supports Las Cristinas (KRY) 0.66 : Co announces that on June 18, 2008, Crystallex was invited to a meeting by representatives of the Ministry of the Environment, led by Vice Minister of Environmental Planning and Administration, Merly Garcia. At this meeting, Crystallex was informed that MinAmb was instructed by the Government to reconsider issuance of the Las Cristinas Environmental Permit to Affect Natural Resources by discussing with Crystallex possible modifications of the Las Cristinas project, which could enable the Permit to be issued.
Crystallex and Ministry of Environment Begin Discussions; National Assembly Committee Supports Las Cristinas
Tuesday June 24, 8:07 am ET
TORONTO, ONTARIO--(MARKET WIRE)--Jun 24, 2008 -- CRYSTALLEX INTERNATIONAL CORPORATION (Toronto:KRY.TO - News)(AMEX:KRY - News) wishes to advise that on June 18, 2008, Crystallex was invited to a meeting by representatives of the Ministry of the Environment ("MinAmb"), led by Vice Minister of Environmental Planning and Administration, Ing. Merly Garcia. At this meeting, Crystallex was informed that MinAmb was instructed by the Government to reconsider issuance of the Las Cristinas Environmental Permit to Affect Natural Resources (the "Permit") by discussing with Crystallex possible modifications of the Las Cristinas project, which could enable the Permit to be issued. The modifications suggested by the MinAmb representatives fall within three main categories: (i) further optimising the social projects in the area, (ii) mitigating the impact of open vein deposit mining in the currently affected areas of the Imataca, and (iii) improving the remediation plans at the end of the mine life as well as to remediate the existing environmental damage caused by the illegal miners who have worked in the area. The MinAmb representatives stressed the importance of expediting the submission of details relating to the suggested request for modifications in order to enable prompt resolution of the Permit.
In addition, Crystallex has received the official minutes of the meeting held at the Permanent Committee for the Economic Development of the National Assembly at the public hearing held on June 4, 2008 to discuss the delay of the Las Cristinas project. At the meeting, representatives of the Ministry of Mines ("MIBAM") confirmed support for Crystallex and its compliance with all procedural and administrative steps up to the denial of the permit by MinAmb. The resolution issued by the Committee states that the Las Cristinas project has been in development for a significant period of time with the support of different branches of the Government. The resolution further notes a lack of coordination between the various Government branches, which it suggests should be resolved in light of the macroeconomic policies and goals of Venezuela, as well as the social needs of the people and the pre-existing environmental damage.
It is too early for Crystallex to forecast how this issue will be resolved, but it is encouraged by the support from the Venezuelan Government and National Assembly. Crystallex welcomes the opportunity offered by MinAmb to help create additional solutions to the extensive environmental damage that already exists due to illegal mining in the Las Cristinas area, and to improve the project in order to respond to issues raised by MinAmb.
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.
Contact:
Contacts:
Investor Relations Contact:
Crystallex International Corporation
A. Richard Marshall, VP
1-800-738-1577
Email:
[email protected] Website: http://www.crystallex.com
--------------------------------------------------------------------------------
Source: Crystallex International Corporation
Cup with Handle (continuation) Pattern.......
Speculative...
>:D Dictator >:D appears to be losing his touch as country's economics deteriorate which probably led to this recent move to get some increased investment going. If he falls, this would be x2 current price.
52wk Range: 0.50 - 3.50
Volume: 4,408,199
Avg Vol (3m): 1,942,050
Technicals
Most Actives
Percentage Gainer
Last Price Quote is:
27.20%above 13-day MA
39.54%above 50-day MA
RS Rating: 97
Fundamentals
Key Data:
Market Cap (M): $660.93
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/A
Below are the 3 month and the 6 month charts.......
Title: Avoid
Or make a fast trade !
Taking a bounce off this bottom.
Hugo Chavez said on Saturday the he would take control of Venezuelan gold mining operations to offset the falling oil prices' effect on national coffers. He declined to name any companies or projects, but his mining minister says that Las Cristinas, the country's largest gold mine, will be a prime target in the new year.
Las Cristinas is currently held by battered Crystallex Internation Corp (KRY).
52wk Range: 0.10 - 2.83
Volume: 6,594,642
Avg Vol (3m): 1,680,830
Technicals
Most Actives
Percentage Gainer
Last Price Quote is:
92.74%above 13-day MA
13.52%above 50-day MA
RS Rating: 7
Fundamentals
Key Data:
Market Cap (M): $660.93
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/A
AP
Venezuela to seize gold concessions as oil falls
Saturday December 27, 7:06 pm ET
By Rachel Jones, Associated Press Writer
Venezuela to seize gold mining concessions, supplement falling oil prices with gold
CARACAS, Venezuela (AP) -- Venezuela will seize several gold mining concessions that previous governments granted private operators, in a bid to supplement falling oil prices with proceeds from state-controlled gold, President Hugo Chavez said Saturday.
Chavez named no specific contracts or companies to be affected, but his mining minister has vowed to next year take over the nation's largest mine, Las Cristinas, which is operated by Canadian mining company Crystallex International Corp.
"We are taking back some concessions that former governments have given, and whose permits are still held by some rich people," in order to reduce public reliance on oil, Chavez said.
Venezuela relies on oil for 94 percent of exports and roughly half its federal budget, making it unlikely that the country's largely undeveloped gold reserves could compete.
But Chavez said Venezuela must "increase the country's income through non-oil exports," including its world-famous cacao and products from recently nationalized steel and cement companies.
Chavez acknowledges that oil prices -- down 70 percent since topping $147 a barrel in July -- will affect Venezuela, but he insists the wealthy will suffer more than the country's poor, who benefit from social spending programs that he vows to continue.
"Social investment will not be halted," Chavez said Friday. "This, for us, is sacred."
Calls to Crystallex's Toronto headquarters went unanswered Saturday, but a Dec. 11 statement said the company had "received no official communication concerning changes" at Las Cristinas.
Crystallex won a contract to develop the mine in 2002, but was forced to halt construction after Venezuela's environment ministry denied its final permit last May.
Chavez's government nationalized four major oil projects in 2006, and has clashed over permits and labor disputes with several international gold mining companies this year.
Mining operations have not yet begun at Las Cristinas -- located in Venezuela's biologically rich Imataca Forest Reserve, which covers 8.6 million acres (3.5 million hectares). Environmentalists warn that mining there could upset the delicate ecology.
Venezuela produced roughly 4.2 tons (4.3 metric tons) of gold in 2007, and Chavez said he hopes to double that figure next year. The country is also rich in diamonds, bauxite and other minerals.
Press Release Source: Sarraf Gentile LLP
Sarraf Gentile LLP Provides Update on Securities Fraud Class Action Against Crystallex International Corporation
Wednesday December 31, 4:30 pm ET
NEW YORK, NY--(MARKET WIRE)--Dec 31, 2008 -- On December 8, 2008, the law firms of Sarraf Gentile LLP and Vianale & Vianale LLP filed a securities fraud class action lawsuit in New York City on behalf of those investors who acquired the securities of Crystallex International Corporation ("Crystallex" or the "Company") (AMEX:KRY - News) between July 28, 2005 and April 30, 2008.
This is the only class action filed on behalf of Crystallex shareholders to recover money for securities fraud violations. Sarraf Gentile LLP and Vianale & Vianale LLP are the only law firms representing Plaintiff. No other counsel has filed an action seeking relief for the proposed class.
If you are a Crystallex shareholder you have until February 6, 2009 to ask the Court to appoint you lead plaintiff. To learn more about your rights and whether you qualify to be a lead plaintiff, please contact: Joseph Gentile at Sarraf Gentile LLP (telephone: 212-868-3610; e-mail:
[email protected]).
Sarraf Gentile LLP and Vianale & Vianale LLP have extensive experience litigating securities fraud class actions across the United States and have recovered millions of dollars on behalf of injured shareholders. They alone investigated and filed this class action, and are the only attorneys representing the Plaintiff.
ATTORNEY ADVERTISING
PRIOR RESULTS TO NOT GUARANTEE SIMILAR OUTCOME
Contact:
Contact:
SARRAF GENTILE LLP
11 Hanover Square
New York, NY 10005
T 212.868.3610
F 212.918.7967
http://www.sarrafgentile.com
--------------------------------------------------------------------------------
Source: Sarraf Gentile LLP
Emerging Stock Report Initiates Independent Research Coverage on Crystallex International Corp.
Press Release Source: Emerging Stock Report On Monday April 5, 2010, 9:15 am EDT
CALGARY, Alberta, April 5, 2010 (GLOBE NEWSWIRE) -- Emerging Stock Report, a leading provider of sector specific independent investment research, today initiated coverage on Crystallex International Corp. (NYSE Amex:KRY). Emerging Stock Report is currently offering a complimentary trial subscription to the investment community.
To view the Report in its entirety visit: http://www.emergingstockreport.com
To get our alerts AHEAD of the market follow us on Twitter: http://twitter.com/EmergingStockRe
About ESR:
Emerging Stock Report is a leading provider of independent investment research for North American companies. Our services include research analysis on emerging growth companies, sector specific research, real-time news and financial data, market commentary and the ESR newsletter. Emerging Stock Report's staff of investment professionals are dedicated to providing the tools and resources necessary to help make important investment decisions. To view our research reports on a complimentary trial basis and take advantage of our other services, visit http://www.emergingstockreport.com and click on the complimentary trial subscription button on our home page, or go directly to our registration page at http://emergingstockreport.com/register.php
About Crystallex International Corp. (NYSE Amex:KRY):
Crystallex International Corp. (NYSE Amex:KRY) is a Canada-based gold producer. The Company has operations and exploration properties in Venezuela.
ESR Disclosure:
Emerging Stock Report is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell any securities. Emerging Stock Report has not been compensated by any of the above mentioned companies. Please read our report and visit our Web site, http://www.EmergingStockReport.com, for complete risks and disclosures.
Contact:
Emerging Stock ReportJoshua Anderson1 (310) 341
[email protected]
Something going on...
Some called it "CRY", not KRY. But something is going on.
52wk Range: 0.18 - 0.52
Volume: 2,789,409
Avg Vol (3m): 544,310
Technicals
Most Actives
Percentage Gainer
Last Price Quote is:
40.81%above 13-day MA
44.39%above 50-day MA
RS Rating: 82
Fundamentals
Earnings Expected on May 12
Key Data:
Market Cap (M): $660.93
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/A
Symmetrical Triangle ( Continuation ) Pattern
BreakOut !
Below the 6 month chart...