Gold Reserve Down 10% on NYSE Amex Delisting Notice; Company Plans Appeal
Gold Reserve Inc. (GRZ.TO,GRZ) is down $0.25 to $2.30 a share in TSX trade, falling nearly 10% this morning after saying it received notice from NYSE Amex LLC that the exchange intends to delist Gold Reserve shares because the Venezuela government recently seized the Brisas Project, taking away the company's sole operating asset.
Company officials said they intend to appeal the delisting notice. They also are seeking a resolution with Venezuelan authorities ahead of arbitration talks scheduled early next year as well as working with lenders to restructure its debt while Gold Reserve pursues new mining projects.
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