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Gold Reserve Inc. (GDRZF)

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Last Post: 6/24/2019 8:26:23 AM - Followers: 13 - Board type: Free - Posts Today: 0


Gold Reserve Inc. has a history in mining dating back to 1956 and was formed for the purpose of acquiring, exploring, and developing mining properties and placing them into production. The Company is incorporated under the laws of the Province of Alberta, Canada and is listed on the TSX Venture Exchange and the OTCQB Markets Exchange.

In 1992, the Company acquired and began developing what is now known as the Brisas gold and copper project, located in the historic Km 88 mining district of the State of Bolivar in southeastern Venezuela (the "Brisas Project").  The Brisas deposit, which is one of the largest undeveloped gold/copper deposits in the world, contains ore reserves of 10.2 million ounces of gold and 1.4 billion pounds of copper.  From 1992 to 2009, the Company invested close to US $300 million in acquisition, land exploration, development, equipment, and engineering costs, which the Company believed developed the Brisas Project into a world class mining project.

In April 2008, after the Company successfully developed the Brisas Project to the point of construction, the Bolivarian Republic of Venezuela arbitrarily revoked the previous authorization to proceed with construction of the Brisas Project, eliminating the Company’s ability to exploit the Brisas Project. As a result of this and other acts by or on behalf of Venezuela, on October 21, 2009 the Company filed a Request for Arbitration under the Additional Facility Rules of the International Centre for Settlement of Investment Disputes ("ICSID") of the World Bank, in Washington D.C., against the Bolivarian Republic of Venezuela seeking compensation for the losses caused to the Company  by what the Company believes are Venezuela's violations of the Agreement between the Government of Canada and the Government of the Republic of Venezuela for the Promotion and Protection of Investments ("Canada-Venezuela Treaty") in regard to the Company and its investments in Venezuela.

In July 2016, Gold Reserve signed the Settlement Agreement whereby Venezuela agreed to pay the Award (including interest) and purchase our mining data, previously compiled in association with the development of the Brisas Project (the "Mining Data"). Under the terms of the Agreement, Venezuela agreed to pay the Company $792 million to satisfy the Award and $240 million for the purchase of the Mining Data for a total of approximately $1.032 billion in installments over approximately 24 months.
Venezuela agreed to make a payment of $40 million (the "Initial Payment") followed by 23 monthly payments of $29.5 million on or before the 10th day of each month starting in July 2017, with a final payment of approximately $313.3 million scheduled to be paid on or before June 10, 2019. In addition, Venezuela irrevocably waived its right to appeal the February 2017 judgment issued by the Cour d'appel de Paris dismissing the annulment applications filed by Venezuela in respect of the Award and agreed to terminate all other proceedings seeking annulment of the Award.






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News News Alert: Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k) 05/13/2021 12:35:07 PM
#240   Gold Reserve Provides Update on Return of Capital Enterprising Investor 06/24/19 08:26:23 AM
#239   Gold Reserve Announces Completion of Return of Capital Enterprising Investor 06/15/19 04:59:18 AM
#238   Gold Reserve Obtains Shareholder Approval and Final Order Enterprising Investor 06/14/19 01:26:15 PM
#237   Gold Reserve Provides Update on Previously Announced Return Enterprising Investor 04/18/19 03:07:23 PM
#236   Gold Reserve Announces Blocking of Trust Account Held Enterprising Investor 03/28/19 11:10:47 PM
#235   Gold Reserve Announces Intention to Return Between US$90 Enterprising Investor 03/28/19 10:59:16 PM
#234   Minimum distribution of $90 million or about $.90 Enterprising Investor 03/08/19 11:08:38 AM
#233   Gold Reserve Announces Shareholder Distribution (3/08/19) Enterprising Investor 03/08/19 09:05:25 AM
#232   Gold Reserve to File Restated June 30, 2018 Enterprising Investor 11/15/18 03:39:13 PM
#231   Gold Reserve Receives Transfer from Venezuela (10/09/18) Enterprising Investor 10/11/18 12:01:44 AM
#230   Gold Reserve Inc Posts 2Q Earnings Per Share Enterprising Investor 08/23/18 09:34:07 PM
#229   Gold Reserve Provides Venezuela Update (8/14/18) Enterprising Investor 08/14/18 04:08:58 PM
#228   Persons, firms or corporations that beneficially own 10% Enterprising Investor 05/16/18 07:59:59 PM
#227   Gold Reserve Provides Update on Venezuela Activities (5/10/18) Enterprising Investor 05/10/18 10:35:04 PM
#225   Gold and copper are safer sitting in the Enterprising Investor 03/20/18 11:59:49 AM
#223   been stalking GDRZF JefftDecker 03/20/18 09:10:55 AM
#222   Gold Reserve Provides Mineral Resource and Positive Preliminary Enterprising Investor 03/19/18 09:03:50 PM
#221   Interim Consolidated Financial Statements (11/22/17) Enterprising Investor 11/22/17 06:04:06 PM
#220   Gold Reserve Provides November Venezuela Update (11/22/17) Enterprising Investor 11/22/17 05:36:30 PM
#219   Gold Reserve Provides October Venezuela Update (10/13/17) Enterprising Investor 10/13/17 09:40:31 AM
#218   Gold Reserve Provides September Venezuela Update (9/14/17) Enterprising Investor 09/14/17 07:01:58 PM
#217   Gold Reserve Provides Update on Annual Meeting Matters (8/23/17) Enterprising Investor 08/23/17 03:45:31 PM
#216   Gold Reserve Completes Redemption of Outstanding 11% Convertible Enterprising Investor 08/11/17 06:17:14 PM
#215   Gold Reserve Issues Notice of Full Redemption of Enterprising Investor 07/21/17 04:43:39 PM
#214   Gold Reserve Completes Partial Redemption of Outstanding Notes (7/18/17) Enterprising Investor 07/18/17 04:24:53 PM
#213   Gold Reserve Provides Venezuela Update (NR 17-08) norweger1979 07/12/17 10:15:39 AM
#212   GDRZF $3.77 norweger1979 07/06/17 04:36:41 PM
#211   GDRZF $3.707 norweger1979 07/05/17 11:53:07 AM
#210   Gold Reserve Provides Venezuela Update (6/30/17) Enterprising Investor 06/30/17 07:50:56 PM
#209   Gold Reserve, Inc. (GDRZF) norweger1979 06/30/17 12:38:23 PM
#208   Gold Reserve Issues Notice of Partial Redemption of Enterprising Investor 06/29/17 10:03:08 PM
#207   GDRZF (6/16/17) Enterprising Investor 06/16/17 06:34:18 PM
#206   Gold Reserve Receives First Payment from Venezuela norweger1979 06/16/17 02:45:59 PM
#205   IIROC Trading Halt - GRZ norweger1979 06/15/17 03:14:45 PM
#204   Gold Reserve Announces Grant of Stock Options (2/17/17) Enterprising Investor 02/17/17 10:33:13 PM
#203   The Paris Court of Appeal Decides in Favor Enterprising Investor 02/07/17 07:43:45 PM
#202   Gold Reserve Provides Update (2/06/17) Enterprising Investor 02/06/17 05:56:02 PM
#201   Gold Reserve Announces Resignation of Board Member to Enterprising Investor 01/25/17 03:14:03 PM
#200   Gold Reserve Reports on Pending Settlement Payment from Enterprising Investor 12/18/16 03:35:46 PM
#199   Red/Black bet on 12/15. Let's see if the joe_techi 12/02/16 01:32:18 PM
#198   Venezuela to Pay Gold Reserve by December 15, Enterprising Investor 12/02/16 08:51:15 AM
#197   IIROC Trading Halt - GRZ Enterprising Investor 12/01/16 12:44:59 PM
#196   Venezuela is paying a price for its delays. Enterprising Investor 11/04/16 09:00:39 PM
#195   Are they going to pay this time or joe_techi 11/04/16 08:15:56 PM
#194   Gold Reserve Enters into Amendment to Settlement Agreement Enterprising Investor 11/04/16 06:59:21 PM
#193   lol j/k. have a good night. Crusen 09/14/16 12:32:21 AM
#192   Prospectus relates to a private placement completed in Enterprising Investor 09/14/16 12:27:09 AM
#191   My only connection to the company is being Enterprising Investor 09/14/16 12:20:31 AM
#190   how many shares are they selling? Is that Crusen 09/14/16 12:17:41 AM
#189   How to own a gold mine for free: Enterprising Investor 08/19/16 12:34:07 PM
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