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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 zukuenftigeron Apr 01, 2019 6:20pm
175 Views
Post# 29566535

Funding

FundingRusoro Mining Executes Addendum to Funding Agreement VANCOUVER, April 1, 2019 Trading symbol (TSX-V): RML /CNW/ - Rusoro Mining Ltd. (the "Company" or "Rusoro") is pleased to announce that it has executed an addendum to its funding agreement whereby the Company can continue to use the remaining funding available for its pursuit to reinstate the Award's findings on damages in full or otherwise obtain fair compensation for the unlawful expropriation of its investments in Venezuela, in light of the Paris Court of Appeals partial annulment of the Award as disclosed in the Company's press release on January 30, 2019. The Company closed a funding agreement for US$7M announced in January 2018, of which approximately US$5M remains unspent, which is intended for use to enforce the arbitration award as a result of Venezuela's unlawful expropriation. This addendum confirms the Company will continue to receive the remainder of this funding for their legal costs and general operations, as they intend to vigorously pursue all available remedies. ON BEHALF OF THE BOARD "Andre Agapov"
Bullboard Posts