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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 gdown9on Nov 22, 2018 9:51am
195 Views
Post# 29009227

My interpretation of the "news" in question today

My interpretation of the "news" in question today
Longs,
 
I guess there is a misunderstanding of the proper sequence of events that have happened.  This is my interpretation. 
 
1. May 8, 2018 - Rusoro Mining Files New Proceedings to Enforce US$1.34 Billion Award Against Venezuela
 
https://www.newswire.ca/news-releases/rusoro-mining-files-new-proceedings-to-enforce-us134-billion-award-against-venezuela-682103322.html
 
2. August 15, 2018 - Rusoro Mining Ltd. pressed a D.C. federal judge Wednesday to further facilitate the enforcement of the company's more than $1.2 billion arbitral award against Venezuela

https://www.law360.com/articles/1073718/rusoro-looks-to-spark-action-on-1-2b-venezuela-award

3. October 11, 2018 - Rusoro Mining has Received a Settlement Proposal from the Bolivarian Republic of Venezuela
 
https://www.stockhouse.com/news/press-releases/2018/10/11/rusoro-mining-has-received-a-settlement-proposal-from-the-bolivarian-republic

4. October 19, 2018 - Rusoro Mining Executes Settlement Agreement with Bolivarian Republic of Venezuela

https://www.stockhouse.com/news/press-releases/2018/10/19/rusoro-mining-executes-settlement-agreement-with-bolivarian-republic-of

5. November 21, 2018 - Rusoro's Venezuelan Asset Bid Nixed Following $1.2B Deal (*** THIS IS THE NEWS IN QUESTION RIGHT NOW ***)

https://www.law360.com/energy/articles/1104284/rusoro-s-venezuelan-asset-bid-nixed-following-1-2b-deal

My interpretation is that the news on November 21, 2018 was to correspond back to RML's actions on May 8, 2018 and August 15, 2018 only.
 

Incidentally, by referencing a similar case @ https://oilprice.com/Latest-Energy-News/World-News/Venezuela-To-Make-949M-Bond-Payment-To-Keep-US-Citgo-Assets.html

You should be preparing your mind to see the payment on November 30, 2018 the latest.

 
"
analysts at JP Morgan, Torino Capital, and Eurasia Group told Bloomberg that the government of Nicolas Maduro would make the payment due at the end of this month because it will want to hang onto this key asset as long as possible.
"
 

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