GRZ is trading below its cash in the bank value, and is even more vunerable at these prices. A $2.50 a share offer for GRZ would cost only $137 million and GRZ has $130 million cash in the bank and another $30 million or so in new equipment as well as the brand new mill they have partly built in Sweden due for completion and delivery next year. It's worth easily $100 million for anyone needing a state of the art mill in a short time frame.

Do the sums; anyone who needed a large gold processing plant could take GRZ and keep the equipment and cash and write off the 10.4 million ounces of gold and 1.3 billion pounds of copper at Brisas and still be well in front financially! Add in Choco 5 which fits right next door to Rusoro's present producing mine and there is another synergy providing Hugo is on side with the Russians.

In the present situation Rusoro and Peter Hambro could pick up both GRZ and KRY for peanuts and nobody else would even bother to put in an offer and the Ven government would be likely to be quite receptive to combining the projects under Russian control.

I noticed that the Peter Hambro deal involved Endeavour Financial as an advisor. Endeavour have been an advisor to Gold Reserve for many years, so you can be sure that the idea has been considered.