2024-04-20 22:27:23 ET
Summary
- Gold Reserve's shares have increased by 120% in the past year on optimism about collecting $913 million it is owed by Venezuela.
- Funds are expected to come from a court-ordered sale of CITGO. It is likely that there will be little if any money left after other creditors are paid first.
- Investors who currently own Gold Reserve shares should exit or reduce their positions.
Initially, I intended to write this article after Gold Reserve Inc. filed its 2023 Annual Report, which based upon the release dates of its previous annual reports, will happen before the end of April. However, court documents that were filed today (April 17, 2024) have accelerated this timeline. Accordingly, all financial data about Gold Reserve Inc. are based upon its 2023 Q3 Financial Statements . I note too that unless otherwise specified, all figures quoted are in US Dollars ((USD))....
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Gold Reserve Inc. - The Numbers From The Venezuela Settlement Don't Add Up, It's A Sell