Gold Reserve Ltd V.GRZ

Rivett said we are all alone ?????

[ugluuak]

https://www.goldreserveinc.com/gold-reserve-provides-update-on-delaware-proceedings/

I did not say they were no longer in the bidding although one could read that into the release.
Looked to the legal auction process to make the right decision ??????

[mrmoribund]

I've wondered about that "on our own" comment at some length myself. Here's what I think probably happened. Haven't asked the company about this. But I think this makes sense. GRZ put in a bid of, call it X. More than $8 billion. But not $10 billion. Special Master ("SM") soon is talking only to one bidder. (Turns out it was Elliot. We only learn that later.) SM

[ugluuak]

One would have to question why the SM announced a winning bid that was inferior value wise to others if that is the case. GRZ would not have put a bid if it was to be less than a payout situation.What would be the point other than to buy into  the bidding lineup for future top-ups. If the fix is in what is RRZ and others recourse

[mrmoribund]

"One would have to question why the SM announced a winning bid that was inferior value wise to others if that is the case." Good question. A few possible answers suggest themselves. (1) SM was uneasy about GRZ's financing, Elliot was the known commodity. (2) SM may have been unimpressed with the credit portion of a GRZ bid. Suppose, hypothetically, GRZ would be getting paid (from

[ugluuak]

1. Any bid offered,tendered and accepted would have had to have strong credibility regarding the financing. Guanrantees would be placed regarding financing of bid.  2. As credit bids were to be accepted, the rules governing those credit bids would have had to disclosed to any bidder in structuring their bids. 3. The true value of the GRZ bid would have had a strong reliance on the value

[Optional]

Bam. Of course there’s a rat. When you smell a rat, there’s always a rat. And when there’s a lot of money involved, it smells worse. Mr. Moribound doesn’t smell rats because he views these things as “complicated”, when they are elementary. That’s why he comes up with all of these weird scenarios, as if these people aren’t bright enough to figure out that an 8.1B  bid from GRZ, obviously

[ugluuak]

The small long time holders of GRZ have felt like impalled cadavers on the shafts of Vladamir THE IMPALLER's actions and mostly lack of over the last 30 years. Give us some peace or give us death !  Whichever can come first. Any chances we could get Vladamir to vist Maduro?

[mrmoribund]

No, sometimes when you smell a rat, or think you smell one, it's just your imagination. Rivett was President of Fairfax for many years. Many big companies would love to have him as their CEO--and would pay him very, very well to sign up. Though this recent option grant will likely turn into quite the big payday for Rivett, it will be hardly anything compared to the amounts he can likely be

[Optional]

I hope you're right Mr. Moribound. I apologize if I came across rude. I'm just frustrated sitting here for over 17 years, and I don't want to whine becuase I know that there are others her that came before me. There were 2 times before that I have blown opportunities to sell for a half decent profit since the imminient permit to construct back in 2007, the ICSID decision, and the

[mrmoribund]

Remind yourself how much better we've done than the Crystallex shareholders of long ago. They were almost entirely wiped out through endless dilution as the company had to go begging to vultures that would finance their litigation. And we probably both remember when there was an obvious pro-Crystallex media bias. The Financial Post would go on and on about how wonderful Crystallex was. And it

[mrmoribund]

I suspect the big challenge in getting financing for a bid is what to do with the issue of the 2020 bonds. The NY State appeals court has said Venezuelan law must be considered (a huge defeat for the bondholders), which should mean there's a very decent chance those bonds are void and worthless. Remember, back in 2016 or 2017, when the bonds were being rolled over into the 2020s, the then

[helpful1]

I agree with your assessment mrmoribund.First happy that Paul Rivett is now C.E.O & The joint bid with FJ Management has PAUL's Rivett's mastermind. I feel a top up bid coming. I feel Gold Reserve Ltd will manage to come out on top & get the full ICSID Award & more,I would like to know who & why it was published Amber Energy/ Elliott Management won the credit bid. This the