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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 375.93

-1.8%

Nov 14 4:00 PM EST

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To: bruiser98 who wrote (145827)	2/7/2019 1:53:15 AM
From: TobagoJack	Read Replies (1) of 217815

old news but tells the back-story re rusoro seekingalpha.com Rusoro Mining: An Arbitrage Play? Small-Cap Rambler Nov. 12, 2018 11:53 AM ET Rusoro Mining is a publicly traded holder of a $1.3 billion cash receivable, disguised as a distressed junior gold miner. Rusoro’s market cap currently stands at around USD $100 million. There is a potential for massive stock repricing if the gap between assets ($1.3 billion receivable) and market cap is bridged. Cash receivable is outstanding from the Venezuelan government pursuant to the settlement reached by Rusoro and Venezuela last month. The first USD $100 million payment is due in this month. The balance is payable in monthly installments over the next 5 years. If the Venezuelan government defaults on the settlement, Rusoro can seek recovery against Venezuela's U.S.-based Citgo oil refinery. Editor's note: Seeking Alpha is proud to welcome Small-Cap Rambler as a new contributor. It's easy to become a Seeking Alpha contributor and earn money for your best investment ideas. Active contributors also get free access to the SA PRO archive. Click here to find out more » After multi-year litigation and enforcement proceedings, Rusoro agreed $1.3 billion cash settlement with Venezuela in October 2018, but is currently trading at <10% of the face value of the receivable it is holding from the Venezuelan government. Venezuelan government seems to be determined to meet its obligations to Rusoro because otherwise it is risking to lose its prize asset, US-based Citgo oil refinery. Accordingly, we think that Rusoro presents a very compelling risk/reward opportunity and the stock has massive upside potential. Rusoro's origin storyRusoro ( OTCPK:RMLFF) is a gold mining company with Russian roots, that began operating in Venezuela in 2001. Rusoro accumulated and was successfully operating several producing assets. In 2006, Rusoro went public at CAD $3.70/share in Toronto (listed as RML.V). The stock consequently fell to under CAD $1.00 on the soon-to-be-justified macro concerns about Venezuela. In 2007-2011, Rusoro significantly expanded its resource base via a series of acquisitions, including a purchase of Venezuelan assets of Gold Fields ( OTCPK:GFIOF, a major South African mining company) for combined cash/equity consideration. As a result, Rusoro held a portfolio of prime gold assets in Venezuela and Gold Fields became Rusoro’s second largest shareholder.

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