RE:Jimpro - rMartelCoralCalcium wrote:
3) Gold Reserve's deal gave the mining data a 240 million value, and they have still not turned it over to date. Why would Rusoro agree to turn it over as soon as they get the 100 million?
4) VZ is currently 206 million in arrears in their payments to Gold Reserve and have not paid them since around March I believe. Why would they pay us anything after getting the 100 million and receiving the mining data?
Maybe I'm a pessimist, but to not look into the deal very openly and carefully is just a bit foolish IMO.
We are lucky to have the GRZ case to refer to. This from GRZ's site dated Aug 14 last:
"As a result of this payment the Company has received an aggregate of US $276 million (including payments made to the Company’s trust account with Bandes Bankin Venezuela). Venezuela remains 5 months in arrears (at US $29.5 million per month) on its obligations under the Settlement Agreement. The Company and Venezuela are continuing discussions to facilitate the payment of the arrears and future payments."
Obviously VZ is not dependable - perhaps more because their finances are in a state of chaos than that they're not trying to honor their commitments - so witholding the data would be wise. JV's on all the Rusoro projects must be attractive to VZ since it would bring a ton of cash into the country and that alone should keep the payments coming as steadily as possible. Rusoro must have studied the GRZ situation and negotiated a better deal. We'll see.
China. They are hungry for gold and we can be sure they are worming their way into the big picture.
All-in-all this whole situation is incredibly complicated and I expect the stock price volatility to reflect that. We'll see.