Bullboard - Stock Discussion Forum Gold Reserve Ltd V.GRZ

Alternate Symbol(s): GDRZF

Metals & Mining Gold

Gold Reserve Ltd., formerly Gold Reserve Inc., is an exploration stage company. The Company is engaged in the business of acquiring, exploring and developing mining projects. The Company owns certain wholly owned mining claims known as the LMS Gold Project (the LMS Property), together with certain personal property. The LMS Property is situated approximately 20 kilometers (km) north of Delta... see more

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TSXV:GRZ - Post Discussion

Gold Reserve Ltd > Someone says 5 bln bid so far.

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Post by Hopeful123 on Feb 21, 2024 5:10pm

Someone says 5 bln bid so far.

Seems really low and makes no sense as the company has revenues of 2.5 bln

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Comment by RIDER1975 on Feb 21, 2024 5:46pm

Not revenue. Profit .

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Comment by Hopeful123 on Feb 21, 2024 6:11pm

Sorry yes profit 2.5 bln....how can it be worth 5 bln Makes no sense.

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Comment by slappyjo on Feb 22, 2024 6:37am

Because any potential bidder for Citgo knows there will probably be future litigation. The 2020 PDVSA bondholders, for example, will probably sue. That will be years of litigation and, perhaps, having to pay an amount equal to 50.5% of the value of Citgo if the bond holders win. I don't necessarily think they'll win but no bidder wants to deal with that time and those costs.

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Comment by RIDER1975 on Feb 22, 2024 7:22am

The latest news were about these bonds invalidity. (Otherwise although 50 % mght have been collateral, but the sum of bonds are only a few bn, I dont exactly know how many bn. 1-2 maybe .)

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