Don’t say I didn’t warn you.
Rusoro Launches Take-Over Bid for Gold Reserve
Monday December 15, 8:27 am ET
Why Gold Reserve may be about to sell out to Rusoro (RML.v)
30 million ounces of Gold; a real problem for any Russian millionaire
Rusoro, Gold Reserve, Crystallex, Gold, Venezuela, Brisas, Las Cristinas, Bloomberg and Inca Kola News
UPDATE 2: GRZ has just released its own PR on the subject, linked right here. Nothing unexpected (and expect the company to reject this offer) bar this cute little wrinkle in the story:
On Friday, December 12, 2008, the Board of Directors received a non-binding proposal from Rusoro and received calls from representatives of Rusoro’s legal counsel and its financial advisor Endeavour Financial Corporation (TSX:EDV – News) (Endeavour”) regarding the proposal. On Sunday, December 14, 2008, Gold Reserve sent letters to each of Rusoro and Endeavour expressing concerns about the role of Endeavour in Rusoro’s Offer. Endeavour also provides advisory services to Gold Reserve and has in depth knowledge of confidential and proprietary information about Gold Reserve. In the circumstances, Gold Reserve believes that the Offer cannot proceed and, together with its financial and legal advisors, is considering its options to protect shareholder interests.
Just out of snarkygossipy interest, a couple of weeks a go a guy from Endeavour (who will remain un-named) tried to join the IncaKolaNews e-mailing list, a request that was rejected, FWIW. Now why on the Lord’s little planet would a EDV.to be interested in this lil’ corner of cyberspace? LOL!