Crystallex International Corporation at the request of Market Regulation Services Inc., on behalf of the Toronto Stock Exchange, Crystallex International Corporation is making the following statement concerning the increase in its stock price and trading volume which may have been influenced by recent speculation in the press concerning the possibility of Crystallex being the target of an unsolicited takeover bid:

“As a matter of Corporate Policy, Crystallex does not comment on rumors or speculation. There are currently no corporate developments concerning Crystallex of which management of the Company is aware and the Company has no announcements to make at this time.”

The Company will continue to update shareholders with news in a timely fashion.

There is one reason, and one reason only, that I wrote up Crystallex in this blog, and his name is Todd Bruce. Todd was fired six weeks ago for no good reason. Perhaps these businessmen and stock promoters can do a better job? I think not. I’ll even go so far as to speculate that the auditors, Deloittes, also thought not, and decided to resign the engagement.

We’ll never know, of course, but Deloittes only took this job after the previous auditor became less than enchanted with previous management (prior to the hiring of Todd Bruce) also, and, like Deloittes, quit. I believe that the hiring of Todd Bruce was a large part of the reason Deloittes took over as auditors.

And when I saw reports that the new CEO was up to their old tricks of leading people on with respect to the timing of the environmental permit, and then the auditor quit soon after, I decided to put two and two together. Now we have the demand from the securities regulators, so I can add another two to get six.

If these guys don’t watch it, that will be a deep six.

As to the company’s prospects, I think it hopes to get the permit soon and then put the company up for sale. Monday there was a rumor that BMO has been hired to investigate on behalf of the Russian goldminer Polyus. In the report that came out in one publication, I read the laughable statement that one could assume that Venezuela would prefer to deal with Russians than Canadians.

The amount of garbage I read about this company is unbelievable. It all starts somewhere. In the case of Todd Bruce, I can assure you it wasn’t him. Moreover, I have many reasons to believe it is not Richard Marshall, the IR vice-president, who has always handled himself professionally with me.

This company holds a valuable asset, which I believe will become another company’s asset this year. The KRY shareholders will ultimately benefit, I also believe.

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