Ben Kramer-Miller
Gold & precious metals, macro, research analyst, deep value

Gold Reserve Inc.: Should You Buy Dirt Cheap Gold In Venezuela?

This article is about Gold Reserve Inc. (OTCQB:GDRZF), which owned and is currently fighting for the rights to a large gold and copper mine that was confiscated by the Venezuelan government in 2009.

1: About Gold Reserve Inc.

Gold Reserve Inc. has a market capitalization of roughly $215 million, or $230 million fully diluted. It owns the Brisas gold and copper mine which has nearly 30 million estimated gold-equivalent ounces. The company has completed an NI 43-101 (which is an official geological report accepted in the mining community) for Brisas, and it can be mined profitably.

Unfortunately the mine is located in Venezuela, and the Venezuelan government, under Hugo Chavez, confiscated Brisas in 2009. While the company is...

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