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Gold Reserve Inc V.GRZ

Alternate Symbol(s):  GDRZF

Gold Reserve Inc. is an exploration stage company, which is engaged in the business of acquiring, exploring, and developing mining projects. The Company's exploration prospects include Siembra Minera and LMS Gold Project. Siembra Minera holds certain gold, copper, silver, and other strategic mineral rights within Bolivar State comprising approximately 18,950 hectares in an area located in the Km 88 gold mining district of southeast Bolivar State which includes the historical Brisas and Cristinas areas. The mineral rights held by Siembra Minera have a 20-year term with two 10-year extensions. Siembra Minera is beneficially owned 55% by Corporacion Venezolana de Mineria, S.A., a Venezuelan government corporation, and 45% by the Company. The Company's subsidiaries include Gold Reserve Corporation, GR Mining (Barbados) Inc., GR Procurement (Barbados) Inc., and GR Mining Group (Barbados) Inc.


TSXV:GRZ - Post by User

Comment by mrmoribundon Jan 05, 2024 9:46am
103 Views
Post# 35812167

RE:RE:RE:Sale will go forward.

RE:RE:RE:Sale will go forward.VERY interesting question. I haven't spoken (yet) with the company about it. Here's my take based on what seems to me to make sense. First, I really doubt Crystallex (or Venezuela) would do this. Crystallex is essentially guaranteed to get the full amount soon enough. So I can't imagine they would ever settle for less than the full amount and I can't imagine the Venezuelan government (so driven by pride as they are) would ever settle for more than some heavily discounted amount. Second, if the owners of Crystallex plan to keep doing business after all this, well, they have to know that they would be hated by many powerful business interests. People would simply not trust them in the future. On that alone I suspect they will be fine to wait a little bit longer. Even if they did come to a settlement it is not even clear that they would actually get paid sooner because it would still depend on IFAC granting a licence. Not impossible that it would actually slow that down. Finally, if Crystallex did settle, I suspect a new--and just as effective action--would quickly rise from the ashes. My guess is the "Additional Judgment Creditors" (including Gold Reserve) would act jointly. This would surely cost some time--which would be really annoying. But the pieces to make it a winning case are already in place.
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