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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

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Message: Rusoro Mining doesn't plan a revised bid for Gold Reserve

Rusoro Mining doesn't plan a revised bid for Gold Reserve

posted on Feb 11, 2009 11:34AM

no surprise here:

TORONTO -- Rusoro Mining does not plan to approach Gold Reserve about a revised takeover bid in the near future, the company's CEO said one day after the Rusoro's all-stock bid was derailed by a court injunction.

"The deal's dead. There's no discussions with them now and none are expected going forward," Rusoro Chief Executive George Salamis said in an interview.

Rusoro withdrew its hostile $128-million offer late on Tuesday after an Ontario Superior Court judge ruled the company had gained improper access to Gold Reserve's confidential information through a common adviser. Both miners are active in Venezuela.

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