Rusoro Updates CITGO Auction Process
Rhea-AI Summary
Rusoro Mining (TSXV: RML / OTC: RMLFF) announced on November 13, 2025 that the Delaware Court of Chancery denied Gold Reserve's request for expedited treatment of a motion for a preliminary injunction related to the PDV Holdings sale process.
The company said Vice Chancellor Lori Will found Gold Reserve did not show a risk of irreparable injury from the ongoing federal sale process, and suggested those disputes can be addressed by the federal judge. Separately, Delaware federal Judge Leonard P. Stark denied motions from Gold Reserve, Citgo, PDVSA and the Republic of Venezuela to disqualify the special master and denied Gold Reserve's request for his recusal in a 54-page opinion.
Positive
- Chancery court denied Gold Reserve's expedited injunction request (Nov 13, 2025)
- Federal judge denied disqualification and recusal motions in a 54-page opinion
Negative
- Ongoing litigation related to PDV Holdings sale process remains unresolved
News Market Reaction
On the day this news was published, RMLFF gained 2.46%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - November 13, 2025) - Rusoro Mining Ltd. (TSXV: RML) (the "Company" or "Rusoro") announces that the Delaware Court of Chancery, following a hearing earlier today, denied Gold Reserve's request for expedited treatment of its motion for a preliminary injunction. Specifically, Vice Chancellor Lori Will found that Gold Reserve had failed to make an adequate showing that the continuation of the sale process before the federal court in Delaware poses a risk of irreparable injury to Gold Reserve, and expressed the view, which Rusoro shares, that disputes concerning the sale process can be addressed by Judge Stark of the federal court.
Unrelatedly, Judge Stark, the Delaware federal judge overseeing the sale process for the PDV Holdings shares, today denied motions made by Gold Reserve, Citgo, PDVSA, and the Republic of Venezuela calling upon him to disqualify the special master and, in the case of Gold Reserve's motion, to recuse himself from further involvement with the sale process. Judge Stark's 54-page opinion denying these motions found that those motions lacked merit for a variety of reasons, and noted his view that both the Venezuela parties and Gold Reserve wish to see the sale process fail.
ON BEHALF OF THE BOARD
"Andre Agapov"
Andre Agapov, President & CEO
For further information, please contact:
Rusoro Mining Ltd.
Gordon Keep
E; gkeep@fiorecorporation.com
T: 604 609-6110
Cautionary Note Regarding Forward-Looking Information and Statements:
"This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may," "will," "should," "anticipate," "plan," "expect," "believe," "estimate," "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Rusoro Mining Ltd. in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Rusoro's actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.
Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedarplus.ca. Rusoro Mining Ltd. disclaims any obligation to update or revise any forward-looking information or statements except as may be required."
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274395
FAQ
What did Rusoro announce about the Delaware court rulings on November 13, 2025 for RMLFF?
How did the federal judge rule on disqualification and recusal motions affecting the PDV Holdings sale for RMLFF?
Does the November 13, 2025 update suggest the sale process for PDV Holdings will continue for RMLFF shareholders?
What did Vice Chancellor Lori Will say about Gold Reserve's injunction motion on November 13, 2025?
Will the November 13, 2025 rulings immediately change Rusoro's ownership of PDV Holdings shares (RMLFF)?
