NIA's Rusoro Mining (TSXV: RML) was today's #1 most actively traded stock on the TSX Venture exchange and the #3 largest percentage gainer on the TSX Venture exchange!
RML gained by 37.5% today to close at $0.11 per share on volume of 1,555,439 shares! RML has so far gained by 120% from NIA's initial suggestion price of $0.05 per share!
It is becoming increasingly likely that the Biden Administration will allow creditors of Venezuela to move forward with an auction of Citgo. After earning record net income in 2022 of $2.8 billion, Citgo reported 1Q 2023 net income of $937 million! Citgo's 1Q 2023 net income is equal to annualized net income of $3.748 billion!
The timing couldn't be more perfect for NIA's Rusoro Mining (TSXV: RML). Citgo could potentially sell at auction for as much as $20-$30 billion, which would fully satisfy all creditors of Venezuela!
Venezuela is the 100% owner of Petróleos de Venezuela, S.A. ("PDVSA"), which in turn owns 100% of PDV Holding, Inc. ("PDVH"), which itself owns 100% of CITGO Holding, Inc., which in turn owns CITGO Petroleum Corp.
RML's arbitration award, which including interest exceeds US$1.7 billion, has already been confirmed and converted to a court judgment in the U.S. and may be enforced against PDVSA's assets.
NIA initially suggested RML on March 9, 2022, at $0.05 per share. NIA said in its initial RML alert, "The U.S. is looking to improve relations with Venezuela to try and get them to boost oil production for the U.S. This could be very big for Rusoro Mining (TSXV: RML) they are owed a massive judgment by Venezuela who stole their gold mine. It wouldn't surprise us if RML breaks out big very soon."
On the following evening of March 10, 2022, NIA sent out a more detailed RML alert entitled, 'Something is Going On With Venezuela'.
NIA said in its March 10, 2022, RML alert, "On March 4, 2022, Judge Leonard Stark of the US District Court in Delaware ruled that plans for an eventual sale of shares in US-based refiner Citgo to pay off debts incurred by Venezuela can proceed despite sanctions, as long as it is approved by the U.S. executive branch. This sale would allow RML to collect the money it is owed but we have no idea if the U.S. executive branch will approve of it. The very next day on March 5, 2022, U.S. executive branch officials traveled to Caracas, Venezuela for secret meetings with the Venezuelan government. Last night it was announced that Venezuela released two American Citgo executives Gustavo Cárdenas and Jorge Fernández."
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. This message is meant for informational and educational purposes only and does not provide investment advice.