Gold Reserve Stock Price, News & Analysis

Gold Reserve (OTCQX: GDRZF) has secured a significant legal victory as Portugal's Supreme Court upheld the company's $1.1 billion international arbitration award against Venezuela. The court rejected Venezuela's sovereign immunity and public policy defenses, affirming the earlier Lisbon Court of Appeal's decision that confirmed the 2014 arbitration award.

Additionally, the company has been named as the Final Recommended Bidder for the sale of PDV Holdings shares, the indirect parent company of CITGO Petroleum Corp., in the U.S. District Court for Delaware. Any recovery from either the Portugal or Delaware proceedings may offset the amount recoverable in the other jurisdiction.

Gold Reserve (OTCQX: GDRZF) provided an update on the CITGO sale process, where its U.S. subsidiary Dalinar Energy Corporation was recommended by the Special Master to purchase PDV Holding (PDVH) shares, CITGO's indirect parent company.

Four parties filed notices of objection, including Red Tree Investments (former Stalking Horse Bidder), 2020 bondholders, PDVH/CITGO, and Crystallex International. ConocoPhillips filed a potential objection, while three other parties filed reservations of rights.

The Court schedule requires memoranda supporting objections by July 23, 2025, responses by August 6, 2025, with the Sale Hearing set for August 18, 2025. Limited discovery regarding objections will conclude on July 31, 2025.

Gold Reserve Ltd. (OTCQX: GDRZF) has announced a conference call scheduled for July 10, 2025, at 10:00 am EDT to discuss its subsidiary Dalinar Energy Corporation's US$7.382 billion bid to acquire PDV Holding, Inc., the indirect parent company of CITGO Petroleum Corp.

The company was recently named as the Final Recommended Bidder by the Special Master appointed by the U.S. District Court for the District of Delaware. The conference call will provide detailed information about the bid terms and include a Q&A session. A recording will be available on the company's website until July 25, 2025.

Gold Reserve (OTCQX: GDRZF) announced that its U.S. subsidiary, Dalinar Energy Corporation, has been selected as the Final Recommended Bidder to acquire PDV Holding, Inc., the indirect parent company of CITGO Petroleum Corp. The bid values the transaction at US$7.382 billion, significantly higher than the previous US$3.7 billion stalking horse bid.

Upon closing, Gold Reserve will own 44% of Dalinar's common equity (representing 85% of voting shares) and hold at least $150 million of $1.5 billion preferred equity securities. The bid is supported by a consortium including Rusoro Mining, Koch Minerals, Koch Nitrogen International, and Siemens Energy. Financing commitments have been secured from a consortium led by J.P. Morgan and TD Bank.

The Delaware Court will hold a Sale Hearing on August 18, 2025. The transaction remains subject to closing conditions and regulatory approvals, including OFAC approval.

Gold Reserve Ltd. (OTCQX: GDRZF) announced that its Delaware subsidiary, Dalinar Energy Corporation, has submitted a further revised topping bid to acquire PDV Holding, Inc. (PDVH), the indirect parent company of CITGO Petroleum Corp. This follows previous topping bids submitted on June 3 and June 18, 2025.

The bid terms remain confidential until the Special Master reviews all bids and makes a final recommendation to the Court by July 2, 2025. A sale hearing is scheduled for August 18, 2025. If selected and approved, the bid's consummation will require various closing conditions and regulatory approvals, including clearance from the U.S. Department of Treasury's Office of Foreign Assets Control (OFAC).

Gold Reserve Ltd. (OTCQX: GDRZF) has filed an emergency letter request with the U.S. District Court for the District of Delaware regarding OFAC's issuance of General License 5S. The request comes after OFAC extended the suspension of the 2020 Bondholders' rights under their CITGO Holding shares pledge for another six months until December 20, 2025.

The Company is seeking court order for OFAC to clarify whether it plans to continue suspending GL-5 beyond the expected Sale Transaction closing. Gold Reserve believes OFAC's position on GL-5 suspension is clear, given its five-year suspension history and extension past the August 18 Sale Hearing date. The company argues this clarification would help maximize the value of the PDVH shares sale transaction.

Gold Reserve Ltd. (GDRZF) announces that its Delaware subsidiary, Dalinar Energy Corporation, has submitted a revised topping bid to acquire PDV Holding, Inc. (PDVH), CITGO Petroleum Corp.'s indirect parent company. The bid, supported by a consortium including senior judgment creditors Rusoro Mining, Koch Minerals Sarl, and Koch Nitrogen International Sarl, combines equity and debt financing with 100% commitment from three leading financial institutions. If approved and executed, the bid would satisfy all senior waterfall creditors' judgments and a substantial portion of Gold Reserve's judgment. The Special Master will review all bids and make final recommendations to the Court by July 2, 2025, with a sale hearing scheduled for August 18, 2025. The deal's completion remains subject to various conditions, including U.S. Department of Treasury's OFAC approval.

Gold Reserve Ltd. (OTCQX: GDRZF) has announced an update regarding its international arbitration proceedings against the Venezuelan government. The International Centre for Settlement of Investment Disputes (ICSID) has confirmed on June 13, 2025, that the arbitration tribunal will consist of three arbitrators. The structure includes one arbitrator appointed by each party and a third arbitrator, who will serve as the Tribunal President, to be appointed by mutual agreement between the parties. The arbitration was initiated by GR Mining (Barbados) Inc., a subsidiary of Gold Reserve.

Gold Reserve Ltd. announced updates to the briefing and discovery schedule for the Citgo sale hearing in the U.S. District Court for Delaware. The Court issued an order on June 13, 2025, adopting a revised schedule proposed by the Special Master. Key dates remain unchanged, including the Topping Period expiration on June 18, 2025, and the Sale Hearing start on August 18, 2025. The schedule outlines critical deadlines, including the Special Master's Final Recommendation due July 2, opening expert reports and objection notices due July 7, document productions by July 18, and conclusion of the discovery period on July 31. The process involves multiple stages of expert reports, objections, responses, and witness disclosures, culminating in the Sale Hearing.