IKN

a plague o both your houses

Venezuela signs a deal with Gold Reserve (GRZ.v) and Energold (EGD.v)

The main deal is with Gold Reserve (GRZ.v) and though details are currently sketchy, it seems to be
1) A Joint Venture deal between State and company on the Las Brisas project.
2) Venezuela builds the mine and GRZ gets a free ride.
3) Then Venezuela owns 55% of the company and GRZ owns 45%
4) Once the mine gets going GRZ pays tax, royalties etc on its 45%.
5) The deal is for 27 years.
It was all done at a big flashy signing ceremony with President Maduro and all the nine yeards. We now know why GRZ has been under a trade halt for so long. Energold have, we assumed, managed to land a drilling contract with the State, though this report from the Pro-Maduro media service Telesur talks about Energol (without a D) getting a LOI to mine niobium and tantalum.

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