VHeadline guest commentarist and gold investor Dan Russo writes: It is with much trepidation that I write this article... The management of Crystallex International has been given every conceivable opportunity over the last grueling two and half years to get their act together with the people to whom they report ... their investors.
The fact is that they have failed terribly at each and every opportunity to communicate effectively and to create value for their shareholders.
- The sad part about this is that Crystallex International management just doesn't get the message.
Does Crystallex International management realize how to create value?
Crystallex International has lost hundreds of millions of dollars in net worth ... a stock price that has gone down in value by over 400% ... termination of a company president ... de-listing ... rumors of bankruptcy ... downgrades ... analysts lack of coverage ... and mutual funds lacking interest and running away from this company.
Additionally, two main public and well known financial experts -- Jim Cramer and Bill Cara -- who both were once behind Crystallex have disappeared!
I could go on and on with examples of a management team that is failing at almost each and every opportunity given to them.
Has Bob Fung picked up the phone and called Cramer, NO.
Has Bob Fung picked up the phone and called Bill Cara, NO.
Has Bob Fung gone out to the market and purchased shares of his own company to show the investment community that he has faith in his own company, NO.
Have they in the wake of tragic events, as I have pointed above, become more investor friendly, NO.
Have they hired a top rate public relations firm to assist them, NO.
They rather pay a former executive hundreds of thousands a year who are no longer currently employed.
Bob, desperate times call for desperate measures. More of the same is NOT working!
The fact is that Crystallex has alienated thousands of investors to whom they have a fiduciary responsibility ... they have mismanaged what could still be a tremendous opportunity and overnight 'stock of the year' in spite of the management's poor decisions and callous behavior.
I believe in my heart of hearts that Crystallex will get the permit and will be bought out by either a Russian or Chinese company. It almost seems as though Crystallex' lawyers are running this company ... if this is the case it will prove to be a big mistake.
As for Bob Fung, I hope he reads this article and finally gets the message that the experts have been consulted and all have agreed that there is much more that could be done in dire situations like this to keep Crystallex' gold shining. Right now it's just another sad story of how important management's decisions or lack thereof can effect thousands of innocent investors.
Bob, you know this.
Someone a long time ago explained to me that communication takes both a sender and a receiver. Your investors have been sending messages loud and clear.
With all due respect you need to listen in order to receive.
Dan Russo
dtr1029@aol.com
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