Gold Reserve Inc V.GRZ

Alternate Symbol(s): GDRZF

Metals & Mining Gold

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.

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Comment by mrmoribundon Jan 18, 2024 11:20am

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Post# 35833660

RE:RE:RE:RE:Question

If I understand the issue correctly then I would think any bidder for Citgo would want the issue resolved before making a final bid. I believe the bond issue adds up to about $3 billion.

I suspect the $13 billion estimate of Citgo's value includes that $3 billion debt. So if the bonds were void then Citgo should be worth $16 billion.

Or, if the 2020 bond was assumed to be invalid then a court determination that they were valid would make Citgo worth $10 billion. But I suspect the former is the case.

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