RE:Seeking Alpha Summary
Rusoro Mining is a publicly traded holder of a $1.3 billion cash receivable, disguised as a distressed junior gold miner.
Rusoro’s market cap currently stands at around USD $100 million.
There is a potential for massive stock repricing if the gap between assets ($1.3 billion receivable) and market cap is bridged.
Cash receivable is outstanding from the Venezuelan government pursuant to the settlement reached by Rusoro and Venezuela last month.
The first USD $100 million payment is due in this month. The balance is payable in monthly installments over the next 5 years. If the Venezuelan government defaults on the settlement, Rusoro can seek recovery against Venezuela's U.S.-based Citgo oil refinery.