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Rusoro Mining ( (TSE:RML) ) has issued an announcement.
Rusoro Mining Ltd. announced that a U.S. District Court has authorized the sale of shares of PDV Holding, a subsidiary of Venezuela’s national oil company, to Amber MSub LLC. This sale is intended to settle several billion dollars in judgments against Venezuela and its entities, including a $1.550 billion judgment in favor of Rusoro. Rusoro will receive $400 million in cash and $650 million in convertible notes, along with warrants for equity in Amber, potentially allowing them to recover the full value of their judgment. However, the sale is subject to appeal and requires approval from the U.S. Department of the Treasury.
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 primarily on gold exploration and production. The company is known for its operations in Venezuela and is involved in legal and financial dealings related to its assets and judgments.
Average Trading Volume: 363,366
Technical Sentiment Signal: Buy
Current Market Cap: C$689.4M
See more insights into RML stock on TipRanks’ Stock Analysis page.