project investor relations governance stock info news releases sec filings sedar filings annual reports email alerts info request quarterly and annual financial statements corporate obligations convertible notes bonus plan change of control contingent value rights retention units contact us tax notice disclaimer print page email alerts email page gold reserve inc introduction gold reserve inc. has a history in mining dating back to 1956 and was originally formed for the purpose of acquiring exploring and developing mining properties and placing them into production . the company is incorporated under the laws of the province of alberta canada and is listed on the tsx venture exchange and the otcqb markets exchange . in 1992 the company acquired and began developing what is now known as the brisas gold and copper project located in the historic km 88 mining district of the state of bolivar in southeastern venezuela the brisas project . the brisas deposit is estimated to be one of the largest undeveloped gold copper deposits in the world . from 1992 to 2009 the company invested close to us 300 million in acquisition land exploration development equipment and engineering costs developing the brisas project into what management believes is a world class mining project . in april 2008 the bolivarian republic of venezuela arbitrarily revoked the previous authorization to proceed with construction of the brisas project . as a result of this and other acts by or on behalf of venezuela on october 21 2009 the company filed a request for arbitration under the additional facility rules of the international centre for settlement of investment disputes icsid of the world bank in washington d.c. against venezuela seeking compensation for the losses caused to the company by what the company believed were venezuela s violations of the agreement between the government of canada and the government of the republic of venezuela for the promotion and protection of investments canada venezuela treaty in regard to the company and its investments in venezuela . on september 22 2014 the icsid tribunal unanimously awarded to the company an arbitral award the award totaling i 713 million in damages plus ii pre award interest from april 2008 through the date of the award based on the u.s. government treasury bill rate compounded annually totaling as of the date of the award approximately 22.3 million and iii 5 million for legal costs and expenses for a total as of september 22 2014 of 740.3 million . the award less legal costs and expenses accrues post award interest at a rate of libor plus 2 % compounded annually approximately 58 000 per day for a total estimated award of 769 million . an icsid additional facility award is enforceable globally in jurisdictions that allow for the recognition and enforcement of commercial arbitral awards . on august 8 2016 we announced the execution of the settlement agreement with venezuela pursuant to which venezuela would pay us the arbitral award purchase our mining data and the formation of a mixed company to develop the brisas cristinas project . see international arbitration page . current activities our recent activities have included ongoing communication with representatives of venezuela to collect the award resulting in the signing on february 24 2016 of a memorandum of understanding the mou with venezuela that contemplated payment and resolution of the award transfer of the mining data related to the brisas project the mining data previously compiled by the company as well as the joint development of the brisas and the adjacent cristinas gold copper project ; an announcement on august 8 2016 regarding the execution of a settlement agreement settlement agreement with venezuela which includes payment of the award plus interest of approximately 770 million in respect of the brisas project an agreement whereby venezuela will acquire the company s mining data for 240 million and the execution of an agreement mixed company agreement for the formation of a jointly owned company mixed company ; evaluating other exploration mining prospects which on march 1 2016 concluded in the acquisition of certain wholly held alaska mining claims pursuant to a purchase and sale agreement dated as of january 12 2016 ; completing a non brokered private placement for gross proceeds of 34.3 million ; and pursuing opportunities to dispose of the remaining brisas project related assets . news & events bolivarian republic of venezuela agrees to pay gold reserve arbitral award and acquire mining data and executes an agreement to jointly develop the brisas cristinas gold copper mining project 16 13 august 8 2016 0 comments in news by mary smithread more http www.goldreserveinc.com wp content uploads 2016 01 grz logo.gif 0 0 mary smith http www.goldreserveinc.com wp content uploads 2016 01 grz logo.gif mary smith2016 08 08 09 21 222016 08 08 09 46 14bolivarian republic of venezuela agrees to pay gold reserve arbitral award and acquire mining data and executes an agreement to jointly develop the brisas cristinas gold copper mining project 16 13 gold reserve provides update on discussions with venezuelan government 16 12 august 1 2016 0 comments in news by bruce kruplaread more http www.goldreserveinc.com wp content uploads 2016 01 grz logo.gif 0 0 bruce krupla http www.goldreserveinc.com wp content uploads 2016 01 grz logo.gif bruce krupla2016 08 01 17 34 532016 08 01 17 34 53gold reserve provides update on discussions with venezuelan government 16 12 gold reserve updates on status of agreements with venezuela 16 11 june 23 2016 0 comments in news by mary smithread more http www.goldreserveinc.com wp content uploads 2016 01 grz logo.gif 0 0 mary smith http www.goldreserveinc.com wp content uploads 2016 01 grz logo.gif mary smith2016 06 23 15 08 272016 06 23 15 08 27gold reserve updates on status of agreements with venezuela 16 11 gold reserve provides update on agreements with venezuela 16 10 june 8 2016 0 comments in news by bruce kruplaread more http www.goldreserveinc.com wp content uploads 2016 01 grz logo.gif 0 0 bruce krupla http www.goldreserveinc.com wp content uploads 2016 01 grz logo.gif bruce krupla2016 06 08 20 37 292016 06 08 20 37 29gold reserve provides update on agreements with venezuela 16 10 gold reserve announces extension of memorandum of understanding with venezeula 16 09 may 28 2016 0 comments in news by bruce kruplaread more http www.goldreserveinc.com wp content uploads 2016 01 grz logo.gif 0 0 bruce krupla http www.goldreserveinc.com wp content uploads 2016 01 grz logo.gif bruce krupla2016 05 28 08 17 562016 05 28 08 17 56gold reserve announces extension of memorandum of understanding with venezeula 16 09 gold reserve announces closing of private placement and extension of memorandum of understanding with venezuela 16 08 may 17 2016 0 comments in news by bruce kruplaread more http www.goldreserveinc.com wp content uploads 2016 01 grz logo.gif 0 0 bruce krupla http www.goldreserveinc.com wp content uploads 2016 01 grz logo.gif bruce krupla2016 05 17 14 32 412016 05 17 14 32 41gold reserve announces closing of private placement and extension of memorandum of understanding with venezuela 16 08 gold reserve closes first tranche of private placement 16 07 may 4 2016 0 comments in news by bruce kruplaread more http www.goldreserveinc.com wp content uploads 2016 01 grz logo.gif 0 0 bruce krupla http www.goldreserveinc.com wp content uploads 2016 01 grz logo.gif bruce krupla2016 05 04 15 47 012016 05 04 15 49 57gold reserve closes first tranche of private placement 16 07 gold reserve inc. announces extension of memorandum of understanding with the venezuelan government 16 06 april 25 2016 0 comments in news by mary smithread more http www.goldreserveinc.com wp content uploads 2016 01 grz logo.gif 0 0 mary smith http www.goldreserveinc.com wp content uploads 2016 01 grz logo.gif mary smith2016 04 25 11 01 592016 04 25 11 01 59gold reserve inc. announces extension of memorandum of understanding with the venezuelan government 16 06 gold reserve inc. announces proposed private placement 16 05 march 9 2016 0 comments in news by mary smithread more http www.goldreserveinc.com wp content uploads 2016 01 grz logo.gif 0 0 mary smith http www.goldreserveinc.com wp content uploads 2016 01 grz logo.gif mary smith2016 03 09 11 59 062016 03 10 12 01 21gold reserve inc. announces proposed private placement 16 05 gold reserve enters into memorandum of understanding with the government of venezuela to settle gold reserve s arbitration award and jointly develop the brisas and las cristinas projects 16 04 february 29 2016 0 comments in news by mary smithread more http www.goldreserveinc.com wp content uploads 2016 01 grz logo.gif 0 0 mary smith http www.goldreserveinc.com wp content uploads 2016 01 grz logo.gif mary smith2016 02 29 13 55 042016 04 18 15 37 40gold reserve enters into memorandum of understanding with the government of venezuela to settle gold reserve s arbitration award and jointly develop the brisas and las cristinas projects 16 04 gold reserve provides further update to legal proceedings related to collection of arbitration award 16 03 january 21 2016 0 comments in news by bruce kruplaread more http www.goldreserveinc.com wp content uploads 2016 01 grz logo.gif 0 0 bruce krupla http www.goldreserveinc.com wp content uploads 2016 01 grz logo.gif bruce krupla2016 01 21 09 01 022016 02 29 14 02 13gold reserve provides further update to legal proceedings related to collection of arbitration award 16 03 gold reserve provides update to legal proceedings related to collection of arbitration award 16 02 january 14 2016 0 comments in news by mary smithread more http www.goldreserveinc.com wp content uploads 2016 01 grz logo.gif 0 0 mary smith http www.goldreserveinc.com wp content uploads 2016 01 grz logo.gif mary smith2016 01 14 09 54 002016 02 19 12 41 21gold reserve provides update to legal proceedings related to collection of arbitration award 16 02 gold reserve to acquire certain alaska mining claims 16 01 january 13 2016 0 comments in news by mary smithread more http www.goldreserveinc.com wp content uploads 2016 01 grz logo.gif 0 0 mary smith http www.goldreserveinc.com wp content uploads 2016 01 grz logo.gif mary smith2016 01 13 10 16 422016 02 19 12 42 38gold reserve to acquire certain alaska mining claims 16 01 gold reserve completes issuance of us 12.3 million of new convertible notes and modifies terms of existing us 44 million of convertible notes and related interest notes 15 14 december 1 2015 0 comments in news by mary smithread more http www.goldreserveinc.com wp content uploads 2016 01 grz logo.gif 0 0 mary smith http www.goldreserveinc.com wp content uploads 2016 01 grz logo.gif mary smith2015 12 01 10 46 312016 02 19 12 43 49gold reserve completes issuance of us 12.3 million of new convertible notes and modifies terms of existing us 44 million of convertible notes and related interest notes 15 14 us district court for the district of columbia enters judgement against venezuela in excess of 760 million ; denies motion to stay enforcement 15 13 november 23 2015 0 comments in news by mary smithread more http www.goldreserveinc.com wp content uploads 2016 01 grz logo.gif 0 0 mary smith http www.goldreserveinc.com wp content uploads 2016 01 grz logo.gif mary smith2015 11 23 11 05 432016 02 19 12 45 02us district court for the district of columbia enters judgement against venezuela in excess of 760 million ; denies motion to stay enforcement 15 13 news archives copyright gold reserve inc. 926 w sprague ave suite 200 spokane wa 800.625.9550 scroll to top