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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
Post by Qwertymchertyon Dec 13, 2018 5:50am
153 Views
Post# 29107792

Liquidation of Citgo

Liquidation of CitgoOkay, so Venezuela has defaulted on payment, either due to their own fault or US sanctions. Now Citgo will be liquidated to the tune of 1.3B for Rusoro. It's not a question of "if", but when we get the 1.3B. At a market cap of 70M, the upside to this is over 10x even after full debt repayments. I held a stock a while ago called Petromanas, who's oilfields were being bought out by Shell, the stock was worth 0.04 at the time, and when the announcement came out it was payment of 0.09 per share. The company decided to pay out the sale as a full 0.09 dividend. The share price however stayed at 0.04 - 0.05 until just days before the payment. This stock is worth over a buck, but since there is still "risk", even though the courts completely back our bid. It's not a question of if, but when the stock will hit around a dollar. Just my thoughts
Bullboard Posts