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Gold Reserve Inc. (GRZ.V)
TSXV - TSXV Real Time Price. Currency in CAD
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President Nicolas Maduro desperately needs that photo of him holding the first bar of gold poured from Brisas/Cristinas - and he needs it soon. The market is ignoring the value of the JV and that won't be recognized until that photo is published. While the gold price is stagnant, copper has been on a tear and the Brisas economics depends on the copper price. Cristinas is mainly gold, but together the blending of the ore can optimize the extraction of both. My guess would be that once the award is paid, GRZ plans to "high grade" the "blue whale" to quickly deliver some payable gold as quickly as possible to keep Maduro's promises alive.
It's a bit bizarre to contemplate the other side of this opportunity from the perspective of a newcomer (which I'n not).
Maduro cites $80B of reserves in Brisas/Christinas, whereas Brisas only had 10million oz gold equivalent and Cristinas had 27million last I heard (long time since). With gold at about $1300, and say $300/oz processing, that's $1k/oz retail. That's $37b. Divide 45% of that by 0.109b fully diluted GRZ shares and you get $160/share. Now take present value spead for 20 years (divided by 3.2) and apply a 50%+++ country risk. You STILL get $25/share.
So from an outsider's view, would today's $5 seem juicy enough? If you're young enough to wait for it and put it in a Roth.
Maybe even $10. Make your own simplistic guesses. MAybe gold goes to $3500? That puts to bed the NPV factor.
"By December 15" means before. Looks like more delays and possibly another payment change....maybe a third party deal.
The financing was "in place" two weeks ago.
No trading halt yet so nothing imminent apparently.
I feel like Charlie Brown with the football.
People in VZ can't even buy toilet paper, and we are expecting $769 Million in the next two weeks? I don't see that happening. For years VZ has successfully been stalling us, they will continue to do so until we take a hard line and go after their assets. Do You think other companies that have been awarded Billions $ will sit and wait for their payments or will they try to seize assets, leaving us still waiting for a promise from VZ. Good luck
how do we not get any response from Doug. Sitting on a gold mine literally and are trading at 4 a share. Pretty sad. Both sides agreed to the date etc. So frustrating! If there was a big deal in the works this would be halted. No speculation in the stock as no trusts either side to get it right.
Here we go this week will be paid or pushed out again. How many days will the stock be shut down this time?
LOOKING LIKE WE HAVE AN UPSIDE BREAKOUT GOING INTO "THE NEWS". MIGHT THERE BE A FEW LOOSE LIPS?
Ok where are the within days now that we are into second week. I know Ven has one business day a week but no comment from Gold Reserve? How about we are being made fools of again.
Funny if someone owed me 300m not sure I would close the doors until 2017. Because when they open up next week they are owed more money. I would delay my vacation for that kind of money! At least I would fill people in on why I am confident enough to take a break! Just me.
James H. Coleman, Chairman of Gold Reserve, stated, “Our meetings here in Caracas have gone well, the funding is now in place and Gold Reserve, based on Minister Mirabal’s assurances, will be in receipt of the initial payment by December 15, 2016. " Is "now in place?" Really? All Done. Just waiting for the 300m to transfer? Right. Sure. Gotcha. Venezuela, TODAY, right now, is in an economic fall. People are desperate for food and medicine, today. Bolivar is now at almost 5,000 to 1. Panic has set-in. An economic horror story of incredible magnitude. As an aside, can I offer Mr. Coleman the Brooklyn Bridge? I have the deed right here in my pocket.
Less than a week before a major deadline that will affect his country's future ability to raise needed funds seems like an odd time to make this trip, unless you're really not worried about it....
Venezuela's Maduro meets Pope amid worsening crisis
Venezuela's government and the opposition are to meet on October 30 to try to resolve a political crisis, a papal envoy says. The announcement followed a private meeting between President Nicolas Maduro and Pope Francis.
The Vatican confirmed a meeting took place on Monday between the pontiff and the Venezuelan leader, amid a worsening political standoff between the government and the opposition, who want Maduro removed from office.
According to a Vatican statement, the pope urged Maduro to follow the path of "sincere and constructive dialogue" to alleviate the suffering of the Venezuelan people.
The Vatican has been attempting to mediate a resolution to the political crisis, and opposition leaders on Monday met with Church representatives in Caracas.
New talks scheduled
A few minutes after Maduro's meeting ended, a Vatican envoy confirmed that talks between the Venezuelan government and the opposition would take place on Sunday. The Vatican and the regional bloc UNASUR will also attend.
The sides "started a national dialogue with the purpose of establishing conditions for holding a plenary meeting on October 30," Emil Paul Tscherrig, the Vatican's envoy to Argentina, told a news conference.
There was no indication Maduro would participate in the talks.
Monday's meeting happened just a day after Venezuela's opposition-led National Assembly started proceedings to put Maduro on trial for violating the democratic order, in retaliation for the cancellation of a recall referendum against the unpopular leftist president.
Parliament is now deciding whether to put Maduro on trial
The opposition says he pressured judicial and electoral authorities to stop the vote.
A major oil producer, Venezuela is suffering some of the worst effects of the current oil price crunch. An economic crisis has led to severe shortages of food, medicine and basic goods, leading to widespread outrage at Maduro.
The opposition says the president is inept and must leave office before the crisis worsens, while he vows not to be pushed out by what he has called a power-hungry elite.
Also on Monday, several hundred students burned rubbish and set up roadblocks in the volatile border city of San Cristobal near Colombia. The city, a hotbed of anti-Maduro sentiment, was the site of the worst violence during protests two years ago that led to 43 deaths around the nation.
Venezuelan Congress says Maduro staged coup
"We want freedom" chanted the protesters, who closed several roads under the watch of police and troops.
mm/gsw (AFP, AP, Reuters)
Question 1 is a multiple choice question. The next news/announcement from GRZ will annouce (a) a payment of $300 million? (b) Another postponement? (3) The cancelation of the agreement. (4) None of the above.
Question 2: in each scenario, where will the stock trade at the end of the first business day in which the halt is lifted?
what is moving this stock up?
We are 14 days out on this last trading halt, at this point the news should be constructive and potentially game changing. The poor people of VZ. need this mine much more than anyone else involved. Maybe we may have a real block buster coming....
We all get by with a little yelp from our friends!
We are all super frustrated and the reason is that the company agreed with all pr from Ven about the deadlines and halted trading but now not a word coming from company about two missed deadlines and money is there. Very unprofessional on both sides. I sent an email yesterday morning and nothing. I said you need to let your shareholders know why deadline passes without a word.
He Doug: Today you should get $769 Million from VZ. Declare a dividend over $6.00 per share. Oh, you didn't get the payment? Well then Seize Citgo's assets in the US. Oh you can't do that either because Russia has a lien on them and you waited to long and VZ had time to hide assets and now you're telling us we get nothing? It took you 10 years to get nothing?
FWIW: From last Friday - Maduro approves financing for Arco Minero...
Maduro aprobó plan de financiamiento para el Arco Minero
El ministro para la Comunicación y la Información, Ernesto Villegas, informó que el financiamiento permitirá obtener dividendos por el orden de los 4.000 millones de dólares
More clues from the latest Gaceta. GR Mining is GRZ.
Empresa de Barbados espera la firma de Maduro para explotar oro en 18 mil hectáreas de Bolívar
La compañía, creada en septiembre de 2016, resulta de la alianza entre la Corporación Venezolana de Minería, S.A. y GR Mining (Barbados) Inc.
Seems like all selling has dried up and very little buying into, the calm before the storm. Today's price action and lack of trades is very typical going into the October 31st settlement date. GRZ is going to be Barn Burner if we are paid on time. Comments on current odds would be really appreciated. It's always good fun to speculate prior to such a pivotal date. My take is that we get paid and the stock goes to $6 bucks US....
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