Welcome to our dedicated page for Gold Reserve news (Ticker: GDRZF), a resource for investors and traders seeking the latest updates and insights on Gold Reserve stock.
Gold Reserve Ltd. (OTCQX: GDRZF) is a Bermuda-based, majority US-owned company associated with the gold ore mining industry and a long history of developing large gold and copper deposits in Venezuela. The Gold Reserve news feed on Stock Titan aggregates the Company’s public announcements, giving investors and observers a single place to review its latest legal, arbitration, tax, and corporate updates.
Recent Gold Reserve news has focused heavily on court proceedings in the United States related to the proposed judicial sale of PDV Holding, Inc. (PDVH) shares in Delaware. The Company has reported on its fully financed bid for the PDVH shares, its objections to the court’s approval of a lower-priced bid by Elliott/Amber Energy, and its subsequent notices of appeal, motions for stays, and other appellate steps in the U.S. Court of Appeals for the Third Circuit.
In addition to the PDVH sale process, Gold Reserve news items cover international arbitration outcomes, such as the favorable Final Award obtained by its affiliate against Banco De Desarrollo Economico Y Social De Venezuela (BANDES), and the Company’s plans to seek recovery of those awarded amounts through foreign courts. The feed also includes regulatory and tax developments, including the completion of a Canada Revenue Agency audit without net adjustments to its Canadian tax filings for the years under review.
Corporate governance and capital markets developments, such as stock option grants under the Company’s 2012 Equity Incentive Plan and commentary on the political and human rights situation in Venezuela, also appear in Gold Reserve’s releases. By following this page, readers can review the Company’s own descriptions of its evolving legal strategies, enforcement efforts, and corporate actions as they are publicly disclosed.
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Gold Reserve Inc. (OTCQX:GDRZF) announced it received a conditional writ of attachment from the U.S. District Court of Delaware for shares of PDV Holding, Inc., linked to CITGO Petroleum Corp. This follows a January 2023 ruling that acknowledges Gold Reserve's claims alongside other creditors of Venezuela. The conditional writ will be effective only if authorized by the U.S. Office of Foreign Assets Control (OFAC). The company's claim involves a $990 million arbitral award. PDVSA, the parent company, plans to oppose the inclusion of additional judgments in the sales process, potentially delaying resolution for 6 to 18 months.
Gold Reserve announced the election of several directors and the appointment of PricewaterhouseCoopers as auditors during its annual meeting. The newly elected board includes James H. Coleman and others, all serving until the next annual meeting. Additionally, director James Tunkey received stock options for 145,000 shares at $1.08 each, valid for 10 years. The company warns that forward-looking statements in the release are subject to risks, particularly related to operations in Venezuela and potential sanctions, which could materially impact outcomes.
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