Breaking news on GRZ

Bad news for KRY shareholders: they've already changed the name

I nailed that sucker. This from the wires.

VENEZUELA SAYS TO OFFER RUSSIAN RUSORO VENTURE AT LAS BRISAS, NOW OPERATED BY GOLD RESERVE


UPDATE: here's the Reuters version.

Venezuela to offer Russians Crystallex gold project
Thu Nov 6, 2008 12:56pm EST

CARACAS, Nov 6 (Reuters) - Venezuela said it will offer a joint venture to Russian-owned miner Rusoro (RML.V: Quote, Profile, Research, Stock Buzz) to operate the Las Cristinas and Brisas gold projects, currently under contract to two Canadian companies, Mining minister Rodolfo Sanz on Thursday.

He told a Russian delegation that a memorandum of understanding would soon be signed with Rusoro.

It appeared that Sanz intends to replace the Canadian companies who operate the projects that contain some of Latin America's largest gold deposits, with Rusoro, but he did not mention their names.

Las Cristinas is currently operated by Canada's Crystallex (KRY.TO: Quote, Profile, Research, Stock Buzz), which had waited for years for an environmental permit to start building a mine at the site. The minister on Wednesday said that the government was taking control of Las Cristinas and would start the mine next year.

Nearby Brisas is operated by Gold Reserve (GRZ.TO: Quote, Profile, Research, Stock Buzz) which had also been waiting for permits to start mining the gold and copper deposit. (Reporting by Brian Ellsworth; Writing by Frank Jack Daniel)



UPDATE 2: Now you know this story is gonna get a lot of fun!!! LOL!!!

CARACAS (Dow Jones)--Venezuelan Mining Minister Rodolfo Sanz denied Thursday that the government was planning to offer the Las Cristinas gold mine, one of the largest in Latin America, to Rusoro Mining Ltd. (RML.V) after taking back the mine from Crystallex (KRY).


UPDATE 3: ALL ABOARD!! GRZ insider filings from today

Nov 06/08	Nov 05/08	Timm, Rockne	Direct Ownership	Common Shares Class A Common Shares	46 - Compensation for services	50,000	$0.550
Nov 06/08	Nov 05/08	Timm, Rockne	Direct Ownership	Rights Unvested Restricted Shares	57 - Exercise of rights	-50,000
Nov 06/08	Nov 05/08	Geyer, James	Direct Ownership	Common Shares Class A Common Shares	46 - Compensation for services	30,000	$0.550
Nov 06/08	Nov 05/08	Geyer, James	Direct Ownership	Rights Unvested Restricted Shares	57 - Exercise of rights	-30,000
Nov 06/08	Nov 05/08	Stewart, Douglas	Direct Ownership	Common Shares Class A Common Shares	46 - Compensation for services	20,000	$0.550
Nov 06/08	Nov 05/08	Stewart, Douglas	Direct Ownership	Rights Unvested Restricted Shares	57 - Exercise of rights	-20,000
Nov 06/08	Nov 05/08	Smith, Mary	Direct Ownership	Common Shares Class A Common Shares	46 - Compensation for services	17,000	$0.550
Nov 06/08	Nov 05/08	Smith, Mary	Direct Ownership	Rights Unvested Restricted Shares	57 - Exercise of rights	-17,000
Nov 06/08	Nov 05/08	Belanger, A. Douglas	Direct Ownership	Common Shares Class A Common Shares	46 - Compensation for services	45,000	$0.550
Nov 06/08	Nov 05/08	Belanger, A. Douglas	Direct Ownership	Rights Unvested Restricted Shares	57 - Exercise of rights	-45,000