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Rusoro Mining Ltd V.RML

Alternate Symbol(s):  RMLFF

Metals & Mining Gold
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

Rusoro Mining Ltd
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Comment by thinker1951on Jul 19, 2009 12:09am
283 Views
Post# 16148805

RE: RE: RE: RE: VHEADLINE

RE: RE: RE: RE: VHEADLINESo this explains why the share price of rml has dropped steadily(since the equity issueand then the decree mandating I believe 60% being offered for sale to the government ) even though they seem to be delivering on their guidance. Seems to me the government is cutting of its nose to spite its face. They wont realize any income if their are no mining companies left to sell them their gold. The market has delivered its verdict. So the question is unless it is recinded what chance does rml have of success. Doesnt matter what amount of gold they mine if they cant sell it for what its worth they cant make a profit.I phoned them for their opinion and the answer was they offer it for sale but the government doesnt buy it. Do you believe this answer?
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Dealroom for high-potential pre-IPO opportunities