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Gold Reserve Inc. Message Board

  • buyuranium buyuranium Nov 3, 2013 1:36 PM Flag

    Could a spike in gold prices.....

    Have any bearing on the outcome of the pending settlement/decision? Gold could takeoff any day and might that be a bit more supportive towards influencing an outcome, thoughts?

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    • A higher POG might have nudged Vz toward settlement if they were intent on mining ASAP. However, Vz already has a lot of gold, so they are probably not in any real rush, regardless of the POG. The reason they hijacked the mining operation in the first place was to preserve the resources for the long term. A higher POG just means the gold is worth more, or more accurately that paper currency is worth less.

      As for influencing a decision or award value, the current POG is irrelevant in the eyes of the law. The award is based on the POG at the time that GRZ had its concession (or when it was unlawfully rescinded, I'm not quite sure). However, in the hearts and minds of the judges, the current POG is not irrelevant and may indeed influence their decision on an award.

    • Lets hope gold stays where it is, or lower, until we get our settlement / award.
      Assuming that the panel takes into consideration the POG as of the date a decision is rendered, it may have a slight bearing on the amount. (in the unlikely event that it goes to an ICSID decision). However the real profits will come when you reinvest whatever capital you gain from GRZ into any number of great gold mining companies who are poised to be multibaggers when gold prices go back up to 1900, or higher. There are huge opportunities in this sector right now if you believe gold prices are at or near the bottom.

      By the way, I don't think we need anything else to influence the outcome.
      Supposedly the Venezuelan lawyers acknowledged that the GRZ valuation experts are world class in their field, but then spent most of the recent hearing, with little success, trying to poke holes in the value that they have placed on our concession. Meanwhile they have offered no other valuation of their own, aside from that it is worthless. It really sounds as though this oral hearing has only served as a stall tactic by Vzla. and may have actually hurt them in the end.

3.75+0.04(+1.08%)Nov 26 2:58 PMEST