Venezuala

Malcolm Bucholtz B.Sc, MBA Analyst

Trading Note

Rusoro Mining – Time to Take a Closer Look

In a Trading Note issued over a year ago, way back in May 2007, we introduced an up and coming company called Rusoro Mining (TSXv:RML). At the time we noted that we had taken a liking to Rusoro because it had positioned itself very nicely in Venezuela, had a resource in the ground of 4 million ounces of gold and had serious growth potential.

Since this introduction, Rusoro has gone on to transform itself from being a well positioned explorer to being a producer to be reckoned with. Rusoro now has over 13 million ounces of gold resource in the ground. Stop and think about that for a second – 13 million ounces. How many gold producers trading at below $2 a share have 13 million ounces in the ground?

We further pointed out in our initial report that in our opinion, Venezuelan President Hugo Chavez would favour Rusoro Mining because Rusoro understood how to treat people well and how to do good business in Venezuela. To this day, Rusoro continues to co-operate with Government authorities and continues to make every effort to be a good corporate citizen. Read more »