Gold Reserve Receives First Payment From Venezuela
Venezuela has paid Gold Reserve an initial installment of $40 million and will pay the balance of the amount owed in installments over the next two years. Venezuela’s obligations will be partially collateralized with Venezuelan sovereign debt.
The company and its Venezuela counterparts also ratified their commitment to move forward toward the future development and creation of the joint venture named Empresa Mixta Ecosocialista Siembra Minera S.A., and continue to strengthen the Venezuelan productive economy.
Gold Reserve is headquartered in Spokane, Washington. The Brisas project has historic estimated resources of more than 11 million oz of gold and 1.6 million lb of copper.