Gold Reserve got set up from the original agreement with Venezuela. As soon as Venezuela realized they didn't have to pay the settlement agreement ( according to Maduro's hand picked Supreme Court ) payments stopped.
Now they revoke the mining permit entirely and say, you have the right to appeal the decision in " the Venezuela court system " and if you do, you have to accept the decision as final.
Ya,, that's fair, right? Venezuela knew this was how it was going to play out all along.
As for the original award? This will obviously head back to the World Court and the award will be upheld, but how many years will it take. Gold Reserve is done, I'm afraid. Collection of the award will be carried forward on their financials in perpetuity.
Get in bed with the Devil and you end up losing every time. Too bad.