Rusoro Mining's bid for Gold Reserve remains open despite injunction application

Rusoro Mining Ltd. said Monday its unsolicited all-stock takeover bid for Gold Reserve Inc. remains open despite Gold Reserve's court application for an injunction which would prevent the company's shareholders from considering the bid. Rusoro, controlled by Russian investors, said Gold Reserve shareholders are free to tender their shares to the bid at any time prior to its expiry on Jan. 21. "We have proven our ability to acquire, rationalize, turn around, and operate previously struggling assets in Venezuela and we are excited to have the opportunity to apply our experience to Gold Reserve's projects for the benefit of Gold Reserve and Rusoro shareholders," said Rusoro CEO Andre Agapov.