GRZ convertible notes with a face value of around $100 million are due in 2022 and under certain circumstances some can become due earlier. The notes were trading on the grey market for something less than 50% of their face value some time back and GRZ was interested in buying back cheap notes offered. I think a small number were bought back but cannot verify that.

One point that hasn't been made is that these notes can be repaid in cash or stock at the company's option. (Or part cash part stock). Hopefully some settlement could be underway well before 2022 (or 2012, the earliest date that the note holders can start asking for redemption). Repayment is stock would of course cause more dilution and increase the present number of issued shares which is around 60 million from memory but there would not be a sudden demand for cash that the company could not meet.

I don't think that much can be made from this recent pop in GRZ activity. I do not think it is related to anything in Venezuela or related to KRY in any way. It may be that GRZ is talking to another miner in regards to a JV or use or sale of their mining equipment and those talks have leaked.