GRZ Venezuela will pay the company the award, which amounts to $769,681,823 (U.S.), including accrued interest up to Feb. 24, 2016, in two instalments, $600-million (U.S.), which is expected on or before Oct. 31, 2016, and the remaining $169,681,823 (U.S.) on or before Dec. 31, 2016. This payment shall be made to Gold Reserve using resources from the financing to be obtained by Venezuela for such purposes. The company has agreed to a temporary suspension of the legal enforcement of the award until final payment of the award is made by Venezuela. Upon the final payment of the award, the company will cease all legal activities related to the collection of the award. Venezuela will acquire the company's technical mining data for $240-million (U.S.) in four quarterly instalments of $50-million (U.S.) beginning Oct. 31, 2016, with a fifth and final instalment of $40-million (U.S.) due on or before Oct. 31, 2017. After the final payment, the company's technical mining data will be transferred to the Venezuelan national mining database.
Government got what they had coming from taking the property AWAY in the first place
They can print some more money really don't care what the Venezuela government does crooks all of them |
