Gold Reserve’s Dalinar Energy Submits Topping Bid for CITGO Parent

The latest announcement is out from Gold Reserve ( (TSE:GRZ) ).

Gold Reserve Ltd., through its subsidiary Dalinar Energy Corporation, has submitted a topping bid to acquire PDV Holding, Inc., the indirect parent of CITGO Petroleum Corp. This bid, supported by a consortium of senior judgment creditors and backed by leading financial institutions, aims to satisfy creditor judgments and a substantial portion of Gold Reserve’s own judgment. The bid’s approval is contingent on court and regulatory approvals, with a final recommendation expected by June 27, 2025, and a sale hearing scheduled for July 22, 2025.

Spark’s Take on TSE:GRZ Stock

According to Spark, TipRanks’ AI Analyst, TSE:GRZ is a Neutral.

Gold Reserve’s overall score is significantly impacted by its weak financial performance, particularly its profitability challenges and negative cash flows. Although technically the stock shows some short-term upward momentum, the valuation is unattractive due to negative earnings. Recent corporate events introduce both potential risks and strategic benefits, but the overall outlook remains cautious.

To see Spark’s full report on TSE:GRZ stock, click here.

More about Gold Reserve

Gold Reserve Ltd. operates in the mining industry, focusing on the exploration and development of mineral properties. The company is known for its involvement in gold and copper mining projects and is primarily focused on the Latin American market.

Average Trading Volume: 9,480

Technical Sentiment Signal: Sell

Current Market Cap: C$282.6M

Find detailed analytics on GRZ stock on TipRanks’ Stock Analysis page.