Gold Reserve Ltd V.GRZ

New Press Release - Gold Reserve Announces It Has Engaged Advisors to Arrange for Potential Financing in Connection With Its Previous Announced Potential Bid in Relation to the Sale of the Shares of PDV Holdings, Inc., Under the Delaware Proceedings

Gold Reserve Inc. (TSX.V: GRZ) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) announced today that it has engaged advisors to arrange for potential debt and equity financing in connection with the Company’s previously announced Potential Bid (as defined below). There is no assurance that any...read article.

[mrmoribund]

Will be interesting if/when we ever get to see who they're collaborating with on this possible bid. Can't just be GRZ on its own. I suggested Barrick Gold. I think someone else thought maybe Fairfax. If the former then this is likely just to put a floor under the price--high enough to make sure GRZ gets its award paid in full. But if the latter then this could possibly be a serious

[mrmoribund]

Here's a curious thought. Pure speculation. Elegant logic. If GRZ+whoever actually gets Citgo then GRZ+whoever comes to the Venezuelans and proposes the following deal. PDVSA buys 45% of Citgo from us. We keep 55%. You guys reverse your stunt that you pulled on Siembra Minera. We own 45%, you own 55%. You operate Citgo (owning 45%) by and large as you see fit. We operate Siembra Minera

[slappyjo]

Two problems. One. Venezuela can't be trusted. They are lying scammers.  Two, I don't think VZ can own any assets in America.  There are $20 billion in judgments and we'd be lucky if the Citgo sale pays for half of that.   If VZ continues to own assets in America, other creditors who didn't receive anything should be able to go after those assets.  It'

[Hopeful123]

Can Citgo declare bankruptcy. 

[Hopeful123]

Can Citgo declare bankruptcy.@

[slappyjo]

I'm not a lawyer, but yes.

[ugluuak]

Another thought : Does Venezuela need to have any direct ownership in CITGO to get revenues. If an arrangement could be agreed to where Venezuela provides crude to CITGO in exchange for dollars.They need a workable market for their crude and are in deep need for the dollars.  Plants keep running as is with new owner using Venezuela crude in part to feed the production. Venezuela's part