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Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America
Message: VZ corrupt? no way.
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Pend, I believe the Las Brisas Mine will be the one taken over soon for reasons as follows-
1. the disposition is a concession and that doesn't sit well with the Vens, they want operating contractors who are willing to partnership at a 50:50 split.
2. Rusoro pitched them a low-ball offer which was turned down by the Gold Reserve shareholders.
3. Gold Reserve has sold some of their mining equipment to an unknown buyer in Ven. - building cash reserves for a new mining property.
4. Doug Belanger has been converting his Class B shares to Class A shares to reap bigger rewards when a buy out occurs -converted 205,000 class B shares of GRZ to class A shares on October 28th 2008.
| Nov 03/08 | Oct 28/08 | Belanger, A. Douglas | Direct Ownership | Common Shares Class A Common Shares | 36 - Conversion or exchange | 205,000 | |
| Nov 03/08 | Oct 28/08 | Belanger, A. Douglas | Direct Ownership | Common Shares Class B Shares | 36 - Conversion or exchange | -205,000 |
5. Gold Reserve insiders are selling some shares.
Gold Reserve Inc. (GRZ) |
As of November 7th, 2008 | ||||||
| Filing Date | Transaction Date | Insider Name | Ownership Type | Securities | Nature of transaction | # or value acquired or disposed of | Unit Price |
| Nov 06/08 | Nov 05/08 | Timm, Rockne | Direct Ownership | Common Shares Class A Common Shares | 46 - Compensation for services | 50,000 | $0.550 USD |
| Nov 06/08 | Nov 05/08 | Timm, Rockne | Direct Ownership | Rights Unvested Restricted Shares | 57 - Exercise of rights | -50,000 | |
| Nov 06/08 | Nov 05/08 | Geyer, James | Direct Ownership | Common Shares Class A Common Shares | 46 - Compensation for services | 30,000 | $0.550 USD |
| Nov 06/08 | Nov 05/08 | Geyer, James | Direct Ownership | Rights Unvested Restricted Shares | 57 - Exercise of rights | -30,000 | |
| Nov 06/08 | Nov 05/08 | Stewart, Douglas | Direct Ownership | Common Shares Class A Common Shares | 46 - Compensation for services | 20,000 | $0.550 USD |
| Nov 06/08 | Nov 05/08 | Stewart, Douglas | Direct Ownership | Rights Unvested Restricted Shares | 57 - Exercise of rights | -20,000 | |
| Nov 06/08 | Nov 05/08 | Smith, Mary | Direct Ownership | Common Shares Class A Common Shares | 46 - Compensation for services | 17,000 | $0.550 USD |
| Nov 06/08 | Nov 05/08 | Smith, Mary | Direct Ownership | Rights Unvested Restricted Shares | 57 - Exercise of rights | -17,000 | |
| Nov 06/08 | Nov 05/08 | Belanger, A. Douglas | Direct Ownership | Common Shares Class A Common Shares | 46 - Compensation for services | 45,000 | $0.550 USD |
| Nov 06/08 | Nov 05/08 | Belanger, A. Douglas | Direct Ownership |
Rights Unvested Restricted Shares |
57 - Exercise of rights | -45,000 | |
| I believe Rusoro will come back to Gold Reserve with a sensible offer -IMHO. |
3 Recommendations
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