Posted AT 8:39 PM EST on 27/08/08
Gold Reserve rejects Rusoro takeover letter
Gold Reserve Inc., which has seen its share price decimated by the revocation of a gold mining permit in Venezuela, rejected a takeover proposal Wednesday from
Rusoro Mining Ltd. valuing the company at about $90-million.
Based in Spokane, Wash., and headed by Canadian Doug Belanger, Gold Reserve has been trying to put its 10-million-ounce Brisas gold project into production for more than 15 years.
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