RML Gains by 21.05% to $0.115 Per Share

Rusoro Mining (TSXV: RML) gained by 21.05% today to $0.115 per share!

The U.S. Treasury has authorized representatives of Citgo to negotiate settlements with RML and other creditors of Venezuela to avoid an auction of Citgo.

For many years, the U.S. Treasury was protecting Citgo from its creditors by prohibiting an auction of Citgo from taking place. On May 1st, the U.S. Treasury reversed its policy and is no longer protecting Citgo.

This means RML is likely to soon collect its US$1.7 billion judgment against Venezuela through an auction of Citgo, unless Citgo can prevent an auction from taking place by negotiating settlements with RML and other creditors of Venezuela.

NIA believes the most likely scenario is Citgo will settle with RML and use a portion of its massive monthly profits to pay RML its US$1.7 billion (or possibly a slightly reduced amount of $1.2-$1.5 billion) over a period of 4-6 years. If Citgo doesn't settle with RML and the other creditors... an auction will take place! Citgo has been reporting record profits so it shouldn't have any problem negotiating settlements with all of its creditors, and if an auction does take place... Citgo would sell for approximately 10X net income or $28 billion!

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.