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Rusoro Mining Ltd V.RML

Alternate Symbol(s):  RMLFF

Rusoro Mining Ltd. is a Canada-based company, which is engaged in the operation, acquisition, exploration and development of gold mining and mineral properties. The Company is a gold producer and explorer, with a land position in the prolific Bolivar State mining region in southern Venezuela. It has gold reserves of approximately 5,584,000 ounces and inferred resources of over 6,805,000 ounces. The Company has two mines in production and ten exploration projects (including development and exploration around the mines) which range from early stage to advanced/development stage gold projects in Venezuela. The Company owns and operates the Choco Mill Facility and has a 95% ownership in the Choco 10 Mine. It holds a 50% ownership interest in the Isidora mine (the Isidora Mine). Its subsidiaries include Proyectos Mineros del Sur, PROMINSUR, C.A., Promotora Minera de Guayana, P.M.G., S.A., Corporacion Aurifera de El Callo, C.A., Corporacion Minera Choco 9 C.A., and Corporacion 80.000 C.A.


TSXV:RML - Post by User

Bullboard Posts
Post by brianjoyce2on May 28, 2009 9:32pm
251 Views
Post# 16025575

caveats

caveatsI thnk the issue here is that RML is a public company and can be tied up in court in Canada for years. I think the most likely possibility is RML is taken private by a group of Russian $$$, including the current major owners. This will insulate them from SEC/SEDAR  type rules and arbitration etc. How this plays for us the retail investor I'm not sure. I would think not especially good since the major holders are the russian owners to begin with, so to get a majority to swing to a private offer will not necessitate wooing retail shareholders with big premiums.

JMHO......long here.....bj2
Bullboard Posts