RE: RE: RE: RE: A more detailed review from the GlAgain you are wrong. I'm not pumping. In fact, I sold my position several weeks back at
.18 when the company wouldn't give me an answer I was comfortable with respect to the status of financing.
That said, I'd certainly jump all over this one at the slightest hint of good news. I would just hope it isn't big news and I miss the ride.
Nationalizing doesn't necessarily mean it can't be a joint venture. It simply means Venezuela is taking ownership of the property. What stops them from keeping 51% and giving 49% of any and all properties to a "partner of choice"? Permit the partner to export all of their share ... and keep 51% of gold in Venezuela? Split the costs on a 51%/49%. Yes, Venezuela has a mixed partnership model in place ... but it's one mine and that's with Rusoso. Who says nationalizing isn't the first step to pushing this model one step further?
There are two many things out there that tell me Rusoro's situation is different than the rest.
Why is Rusoro the only producing company in Ven ... when others like KRY and GRZ were shut down before they got started?
Do you really thing Rusoro made a bid for GRZ without knowledge that Ven would back them if they acquired LB?
Is Rusoro irrelevant to Chavez? If so, why were they able to convince the government to raise the export limits last year? Wouln't he just brush them off?
I sold this company because I couldn't get a date on when financing is approved. I just couldn't take the risk of a big dilution - where the stock price sits in one place forever. But in the back of my mind I have this thought ... isn't it unusual for a company to have missed a payment in June ... and still have no announcment two months later (either good or bad)? Is it possible that financing hasn't been announced ,,, because it's contingent on something bigger happening ... think about it before you start writing this company off. Could venezuela be the one aranging financing for these and all future projects?
In the end I may prove to be wrong ... but I definately think Rusoro has always had a different standing in Venezuela's books.
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