Chavez is Nationalizing Venezuelan Gold, Rusoro Mining Chart, China Forecasts Cut (Links)

Rusoro Mining (RML) Courtesy of StockCharts.com
Chavez is nationalizing Venezuela's gold sector. According to Reuters, TSX listed Rusoro Mining Ltd. (RML.V), which is run by Russia's Agapov family, is the "only large gold miner operating in Venezuela and produced about 100,000 ounces of gold in Venezuela last year. The company said export limits by the Government hurt its ability to finance attractive mining projects. Rusoro's stock closed at $0.125 per share today, down 93% in 4 years.

Venezuela news:

  • Chavez to nationalize Venezuelan gold industry (Reuters)
  • Chavez Emptying Bank of England Vault as Venezuela Brings Back Gold Hoard (Bloomberg)
  • As Chavez Pulls Venezuela's Gold From JP Morgan, Is The Great Scramble For Physical Starting? CME Group metal depository statistics table - (Zero Hedge
  • Venezuela Plans to Move Reserve Funds (WSJ)
  • Venezuela moves reserves to BRIC nations (Reuters)
  • Venezuela expects $4 bln loan from Russia - Chavez (Reuters)
  • Pension scandal shakes up Venezuelan oil giant PDVSA - (Reuters)
China analysis:

  • China Forecasts Cut by Morgan Stanley, Deutsche (Bloomberg)
  • Bad Debt at China Banks Growing: Jain (Bloomberg)
  • Local Govt Loan Risks 'Under Control': CBRC - (China Daily)

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