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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
Comment by COREDIGGERon Aug 24, 2011 7:58pm
135 Views
Post# 18976916

RE: RE: Hmmm ... Rusoro Miner of Choice!?

RE: RE: Hmmm ... Rusoro Miner of Choice!?I have no doubt Ven will want 50% of Choco, 50% of Incredible 6 and 50% of SREP ... but is it really bad if Venezuela were to extend the partnership to other properties in exchange for giving up half?  or what if they were to drop the export restrictions under such a partnership ... would that be so bad?  Only speculation on my part that this could happen ... but I don't think it would be so bad.

The moment Chavez decides to move forward with mining, I don't think financing will be a problem .... Ven has it's allies who are willing to lend money in exchange for oil.  Under a joint partnership ... Ven is in the driver's seat when it comes to financing any joint venture.

You say the joint mining isn't official?  It practically is.  Chavez issued his decree, and it must pass senate before being published in the Gazette ... don't be surprised if that happens very quickly.
Bullboard Posts