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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

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Comment by zukuenftigeron May 05, 2019 1:52pm
140 Views
Post# 29712421

RE: Sounds good...

RE: Sounds good...Translation:
 
A US court recognized Juan Guaid as Venezuelan president Washington's federal appeals court has ruled that the opposition leader has the authority to represent the South American nation in the suit of a Canadian mining company for compensation linked to an expropriation May 3, 2019  Share on Facebook   Share on Twitter  Juan Guaid (REUTERS / Carlos Jasso) Juan Guaid (REUTERS / Carlos Jasso) The court, which is one level below the Supreme Court of the United States, decreed Wednesday that the recognition of Guaid as president in charge of Venezuela by President Donald Trump on January 23 is binding on US courts, reported Bloomberg . The United States was the first country to recognize Guaid as interim president on January 23 and has adopted strict economic sanctions to force the exit of Maduro, who has in particular the support of Cuba, Russia and China. Thus, one of the objectives of the Trump government is to take away from the regime the control of the resources of all Venezuelans. The case about which the Court has failed has to do with a claim by Rusoro Mining, a company based in Vancouver and with Russian capital that operated two mines in the town of El Callao, in southeastern Venezuela, which were nationalized in 2011 by the then president, Hugo Chvez, now deceased. "Because the president (for Trump) has recognized Guaid as the legitimate representative of the Republic, only he or his representatives can enforce the interests of the Republic in the courts of the United States," explained the lawyer of the firm Arnold & Porter in the trial. In the ruling, the court explains that Guaid is recognized at the judicial level in the US as interim president of Venezuela because the US executive made the "political" decision to grant him that status on January 23. "What government should be considered here as a representative of a foreign state is a political rather than a judicial issue, and should be determined by (...) the governors," the appellate court said, citing earlier rulings that set the jurisprudence for this case. According to the court order, the decision of the US Executive "to recognize a foreign government" is "final in all domestic courts, which are bound to adhere to that determination." The lawyer Jos Ignacio Hernndez, appointed by Guaid as "special attorney", celebrated the decision on Twitter. The determination does not provide details on the status of that case and only cites the name of Rusoro Mining and another company, Goldfields, which operated one of the mines in Venezuela that Rusoro Mining later acquired. The decision is the first judicial order on the legitimacy of Guaid as president of Venezuela. So far, the recognitions had always been political: first among the States, when more than 50 countries supported him and accepted his ambassadors, and then in international organizations, such as the OAS and the IDB, where the leader of Voluntad Popular got them to accept their envoys.
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