Gold Reserve Ltd V.GRZ

Cost of GRZ over 25 years

[ugluuak]

$200.000 over 25 years at 4.5% return would be somewhere around $600,000

so at a payout of 8.00 it pales based on nadda for 25 years except for the small payment ROC of Venezuela's first payments re the AWARD.

Would be nice if like the CITGO disboursement GRZ had a payout based on shareholder longevity of time invested. First in gets a bigger share.
That could make a lot of long term shareholders somewhat more content.

[Hopeful123]

My breakeven is 6.55 Canadian...please get above there...almost 29 years.

[RIDER1975]

Obviously.cannot.differentiate between shareholders  and shareholders. I am sympathetic with you, especially as I have only a small fraction of your investment, and only from last year.  What came to my mind. What chances do you give.the scenario when the bidding price is not enough.to pay  out GRZ?

[slappyjo]

Consensus valuation for Citgo is $11 to $13 billion.  A few months ago when I calculated the awards owed to Creditors in front of GRZ, I believe it was under $6 billion.  Interest will continue to accrue until this is finally settled.   So even if Citgo is sold for a bit more than half its valuation, we should be ok  I don't know where the PDVSA 2020 bond holders fit

[RIDER1975]

Thanks!

[Hopeful123]

Someone is trying to keep price down..

[ugluuak]

It is still vague on how the courts will pay out the creditors based on their schedule of first in first paid. Will the requested amounts be honored and will those at the end of the line up go without. The value of CITGO will tell a lot. Will the bids be disclosed as each bid is made for the public to see or will it all be kept quiet until the bidding time limit is up ?

[RIDER1975]

Yes that is sure, and a risk for many claimant, that the farer a company is from the front line, the less is the chance getting payed. Any claim beyond 10bn has zero chance to get a pence I think. I am afraid all the.bids will be at least 20-30 % discount to the circulated  estimated fair price (11-13 bn).  (On the other hand, 2-3 bn profit /year should worth more than that, not to