GRZ BOD RespondsThe BOD in their news release state
"Gold Reserve's Board of Directors believes that the Rusoro Offer is opportunistic, financially inadequate and significantly undervalues the Company, its assets and their relative contribution to the proposed combination," said Doug Belanger, President of Gold Reserve.
The BOD state the Rusoro offer significantly undervalues the Company and this is true however, the stock market undervalues the Company even more that Rusoro.
The share price has doubled since the Rusoro offer and there are no other offers in the table.
If the Rusoro offfer is accepted, then GRZ share price will double again, if the offer is rejected then back down goes the share price.
The Rusoro offer does not offer adequate consideration to GRZ shareholders, however, the stock market was offering even less consideration and the GRZ CEO and BOD have been spinning their wheels without success.
I'll vote for the Rusoro offer.