Thursday, August 12, 2010

Rusoro (RML.v) likely to move up on this news

Rusoro (RML.v) has had a wretched year, but this news out of Reuters this morning should bring it some relief:

CARACAS Aug 12 (Reuters) - Gold miners in Venezuela will be allowed to export 50 percent of production, up from 30 percent previously, Venezuela's Central Bank said Thursday.

The change came in new rules published by the bank in response to requests from private companies. (Reporting by Eyanir Chinea; Writing by Andrew Cawthorne; Editing by John Picinich)

The word on this has been floating around for about a week, but until rumour becomes fact in Venezuela, it's best not to count chickens.