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Rusoro Mining ( (TSE:RML) ) has shared an update.
Rusoro Mining Ltd. announced that the Delaware Court of Chancery denied Gold Reserve’s request for expedited treatment of its motion for a preliminary injunction related to the CITGO auction process. The court found that Gold Reserve did not demonstrate a risk of irreparable injury, and disputes can be addressed by the federal court. Additionally, Judge Stark denied motions from Gold Reserve, Citgo, PDVSA, and the Republic of Venezuela to disqualify the special master and recuse himself, stating that these motions lacked merit and suggesting that the parties involved may wish for the sale process to fail.
Spark’s Take on TSE:RML Stock
According to Spark, TipRanks’ AI Analyst, TSE:RML is a Underperform.
Rusoro Mining faces significant financial challenges with persistent net losses, negative equity, and reliance on external funding. Technical indicators confirm a bearish trend without any positive catalysts from corporate events or earnings call guidance. The stock’s low valuation reflects its struggles, making it unattractive to investors focused on profitability and growth.
To see Spark’s full report on TSE:RML stock, click here.
More about Rusoro Mining
Rusoro Mining Ltd. operates in the mining industry, focusing on the exploration and development of gold mining properties. The company is primarily engaged in the acquisition, exploration, and development of gold mineral properties in Venezuela.
Average Trading Volume: 346,939
Technical Sentiment Signal: Buy
Current Market Cap: C$676.9M
For a thorough assessment of RML stock, go to TipRanks’ Stock Analysis page.