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Gold Reserve Inc. (“Gold Reserve” or the “Company”) is engaged in the business of acquiring, exploring and developing mining projects. The Company, an exploration stage company incorporated in 1998 under the laws of the Yukon Territory, Canada and continued to Alberta, Canada in September 2014, is the successor issuer to Gold Reserve Corporation which was incorporated in 1956. In 1992, the Company acquired and began developing what is known as the Brisas gold and copper project, located in the historic Km 88 mining district of the State of Bolivar in southeastern Venezuela (the “Brisas Project”). From 1992 to 2009, the Company invested close to US $300 million in acquisition, land exploration, development, equipment, and engineering costs, developing the Brisas Project into what management believed was a world class mining project. In April 2008 the Bolivarian Republic of Venezuela revoked the Authorization to Affect, eliminating the Company`s ability to exploit the Brisas Project. In October 2009, the Company filed a Request for Arbitration under the Additional Facility Rules of the International Centre for Settlement of Investment Disputes (“ICSID”) of the World Bank, in Washington D.C., against the Bolivarian Republic of Venezuela seeking compensation for the losses caused by the actions of Venezuela that terminated our Brisas Project in violation of the terms of the Treaty between the Government of Canada and the Government of Venezuela for the Promotion and Protection of Investments. In September 2014, the ICSID Tribunal unanimously granted us an Award of $740.3 million. In July 2016, we signed a Settlement Agreement (as amended) whereby Venezuela agreed to pay us $792 million to satisfy the Award and $240 million for the purchase of the Mining Data for a total of approximately $1.032 billion payable in monthly installments. The first $240 million to be received by Gold Reserve from Venezuela is related to the sale of the Mining Data. Venezuela has paid the Company a total of approximately $254 million pursuant to the Settlement Agreement. Approximately $913 million (including interest of approximately $135 million) remains unpaid. The Company is currently working on collecting the remaining payments contemplated under the Settlement Agreement (See Arbitral Award section) and executing the Mixed Company Agreement (See Mixed Company section). The Company maintains its executive/administrative office at 999 West Riverside Ave., Suite 401, Spokane, Washington 99201 USA, and is listed on the Toronto Venture Exchange (symbol: GRZ.V) and quoted on the OTCQX Markets Exchange (symbol: GDRZF). The Company employed 8 individuals as of June 30, 2021.
Barrick Gold Corporation (Barrick) is engaged the production and sale of gold, as well as related activities, such as exploration and mine development. Barrick also produces copper and holds interests in a platinum group metals development project and a nickel development project, both located in Africa, and a platinum group metals project located in Russia. Barrick has four regional business units (RBUs): North America, South America, Australia Pacific and Africa. On March 5, 2008, Barrick completed the acquisition of additional 40% interest in the Cortez property. During the year ended December 31, 2008, the Company acquired Cadence Energy Inc.
CRU offers unrivalled business intelligence on the global metals, mining and fertilizer industries through market analysis, price assessments, consultancy and events.
Allied Copper Corp. is a mineral exploration company focused on acquiring and developing potential long-life, scalable, copper-gold assets in the Western United States. The Company`s strategy is to focus on low cost and potential high growth operations over a multi-year growth pipeline in low-risk jurisdictions, and is committed to operating efficiently and with transparency in all areas of the business. Allied Copper headquarters are in Vancouver, BC, Canada and lists under the symbol CPR on the TSX Venture Exchange.
Luna Gold Corp. is a cash generating gold producer engaged in the operation and exploration of promising gold projects. Luna aims to maximize shareholder return while ensuring safe, healthy, and secure workplaces, minimizing environmental impact, and both engaging with and assisting in community development. During 2013, Luna sustained positive cash generation and achieved record gold production of over 79,000 ounces while reducing cash costs and identified two major mineralized structures at the Touro Target. Luna’s primary asset is the Aurizona Gold Mine located in the north-east of Brazil. A Preliminary Feasibility Study (PFS) is underway, targeted for release during second half 2014 and considers expanding average annual gold production to deliver between 200,000oz and 300,000oz upon completion. In March 2013, Luna released an updated resource estimate for Aurizona of 3.63 million ounces (Moz) Measured and Indicated Resources and 1.04 Moz Inferred Resources, representing increases of 15% and 44% respectively from the December 2011 resource update. In April 2013, Luna announced an updated Piaba Deposit Proven and Probable Reserve of 2.36 million ounces, including 56 million tons (Mt) of ore with a mine life average of 1.32 grams per ton of gold (g/t Au), representing a 222% increase when compared to the July 2010 Reserve statement. Drilling programs conducted by Luna since 2007 have significantly extended the strike and depth extent to the original Piaba ore body and mineralization remains open along strike to the east and west and also at depth where interpreted high-grade plunging structures are being targeted.