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.

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Rusoro Mining Ltd

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Comment by COREDIGGERon Jul 07, 2011 8:14pm

192 Views

Post# 18808777

RE: RE: RE: RE: Chavez has cancer. Rock on!

WTFIGOAC ... I like your voodoo math.
You point out they have $91 million in current liabilities and only $4 million in cash. Very convenient ofto point out all current liabilities, but ignore the $33.7 million in gold they have in inventory, the $17.4 million in prepaid expenses, $22 million in receivables.
Add those up with the cash on hand ... and you have $76 million ... pretty darn close to the $91 million.
Have you bothered to contact the company to ask what is going on?
Incredible 6 is darn close to production (pending the finalization of the trucking contract). Plans are to ramp up production at Choco 10 once financing is finalized ...
Things aren't so bleak after all.

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