Northwire Canada EditionFriday, July 31, 2026
Sign inSubscribe
Northwire
⌕
NMI 0.195 +0.0% TKO 9.87 +4.4% ELD 45.89 +2.2% DG 0.045 +12.5% TNGD 6.33 +3.4% DPM 52.30 +6.1% EPL 0.180 +2.9% NTH 0.160 +3.2% GGM 0.035 +0.0% ITR 3.01 +4.9% CS 13.25 +3.5% EMO 0.325 +1.6% CAN 0.050 −9.1% MOON 7.40 +3.4% FG 0.035 +0.0% SBMI 0.125 +0.0% NMI 0.195 +0.0% TKO 9.87 +4.4% ELD 45.89 +2.2% DG 0.045 +12.5% TNGD 6.33 +3.4% DPM 52.30 +6.1% EPL 0.180 +2.9% NTH 0.160 +3.2% GGM 0.035 +0.0% ITR 3.01 +4.9% CS 13.25 +3.5% EMO 0.325 +1.6% CAN 0.050 −9.1% MOON 7.40 +3.4% FG 0.035 +0.0% SBMI 0.125 +0.0%
M&A / Property

Rusoro notes court denies Gold Reserve's request

By The Northwire Desk — AI Analysis Nov 13, 2025 · 20:35 RML · 1.13 Rusoro Mining Ltd.
RML · Price

Executive Summary

  • Rusoro Mining Ltd. reports that the Delaware Court of Chancery denied Gold Reserve's request for expedited treatment of its motion for a preliminary injunction regarding the Citgo auction process.
  • Vice-Chancellor Lori Will ruled that Gold Reserve failed to demonstrate irreparable injury from the continuation of the sale process and indicated that disputes regarding the sale process should be addressed by Judge Stark in federal court.
  • Judge Stark, overseeing the sale of PDV Holdings shares, denied motions by Gold Reserve, Citgo, PDVSA, and the Republic of Venezuela to disqualify the special master and recuse himself, finding the motions lacked merit and noting that both Venezuela parties and Gold Reserve appear to want the sale process to fail.

Key Details

  • Court Ruling (Chancery): The Delaware Court of Chancery denied Gold Reserve's request for expedited treatment of its motion for a preliminary injunction.
  • Judicial Reasoning: Vice-Chancellor Lori Will found Gold Reserve failed to show that the continuation of the sale process before the federal court poses a risk of irreparable injury.
  • Jurisdictional View: The Vice-Chancellor expressed the view (shared by Rusoro) that disputes concerning the sale process can be addressed by Judge Stark of the federal court.
  • Court Ruling (Federal): Judge Stark denied motions made by Gold Reserve, Citgo, PDVSA, and the Republic of Venezuela.
  • Specific Motions Denied:
    • Gold Reserve's motion to recuse Judge Stark from further involvement with the sale process.
    • Motions by all parties (Gold Reserve, Citgo, PDVSA, Republic of Venezuela) to disqualify the special master.
  • Judge's Opinion: Judge Stark issued a 54-page opinion denying the motions, finding they lacked merit for various reasons.
  • Judicial Observation: Judge Stark noted his view that both the Venezuela parties and Gold Reserve wish to see the sale process fail.
  • Subject Matter: The updates concern the auction process for PDV Holdings shares and the related legal battles involving Gold Reserve, Citgo, PDVSA, and the Republic of Venezuela.
Read the original news release →

More from Rusoro Mining Ltd.

Dec 02, 2025 · 18:12

Rusoro Provides CITGO Update

M&A / Property Nov 13, 2025 · 13:31

None

Regulatory