Rusoro Mining Ltd. (RML.V) said that the 90-day period fixed by the Venzuelan Government to negotiate the compensation due to the company and the terms of the migration of Rusoro's mining assets to an enterprise to be controlled by the Venezuelan Government expired on December 15, 2011.
Rusoro Mining said it has not been informed by the Venezuelan Government of an extension to the 90-day period nor does it have information whether its mineral titles and rights have expired and reverted to the government. The company also said it remains open to continue amicable discussions with the Venezuelan Government with a view to the prompt settlement of this dispute.
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