Rusoro Mining Ltd V.RML

Alternate Symbol(s): RMLFF

Metals & Mining Gold

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.

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Rusoro Mining Ltd > Where we are

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Post by slappyjoon Oct 11, 2024 10:13am

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Post# 36262537

Where we are

The reality is RML's position is very precarious. Here are the numbers.

$7.286 billion bid. This is the maximum at this point
$2.7 billion put in escrow for 2020 bonds
$4.586 billion remaining (max)
$5.1 billion is needed to fully pay off RML and those ahead of them. This amount increases daily as interest accrues

We know GRZ's bid was higher - THE highest bidder - but SM shut them out and selected Elliott.

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