GDRZF
Gold Reserve Ltd.1.4500
+0.0000+0%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
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Key Stats
Market Cap
177.94MP/E (TTM)
-Basic EPS (TTM)
-0.25Dividend Yield
0%Recent Filings
10-K
FY2011 results
Gold Reserve Inc. reported a net loss of $23.6 million for FY2011 ended December 31, 2011, up from $21.6 million in 2010, driven by higher corporate expenses from stock option grants while arbitration costs held steady at $6.7 million. No revenue emerged as the exploration-stage miner awaits an ICSID ruling on its $2.1 billion claim against Venezuela for the expropriated Brisas Project, with oral hearings wrapping in February 2012 and a decision possibly by mid-2013. Cash dipped to $57.7 million from $58.2 million, cushioned by $16.5 million in equipment sales, yet interest on $102.3 million convertible notes—due for repurchase option on June 15, 2012—ate $6.7 million. No quarterly breakdowns surfaced, but momentum hinges on the arbitration. Litigation over a 2008 takeover bid risks $103 million in counterclaims. Arbitration failure could cripple the company.
10-Q
Q3 FY2011 results
Gold Reserve narrowed its Q3 net loss to $5.1 million from $6.6 million a year earlier, thanks to a $0.9 million gain on equipment sales that boosted other income 14x y/y while arbitration costs dipped 23%. Yet nine-month losses widened to $17.1 million from $15.2 million, driven by $2.3 million in stock-based compensation—up sharply from $0.1 million—plus higher equipment holding costs, though Venezuelan expenses fell 26%. Cash climbed to $62.4 million, up $4.3 million y/y, fueled by $16.5 million in asset disposals offsetting $13.0 million in operating outflows; free cash flow not disclosed in the 10-Q. Convertible notes stand at $101.5 million, with holders able to demand repurchase in June 2012, but shares can settle it. The company eyes new mining properties amid its $2.1 billion ICSID claim against Venezuela for the seized Brisas project. Oral hearings kick off February 2012. Listing threats loom from NYSE Amex and TSX over stalled operations.
8-K
NYSE Amex accepts compliance plan
Gold Reserve Inc. announced on October 31, 2011, that NYSE Amex accepted its compliance plan to meet continued listing standards under Sections 1002(c) and 1003(c)(i) by December 20, 2012. The company must submit quarterly updates to exchange staff alongside SEC filings. No assurance exists for full compliance. Delisting looms if progress falters.
8-K
NYSE Amex delisting paused
Gold Reserve Inc. dodged immediate delisting from NYSE Amex on August 16, 2011, when the Listing Qualifications Panel remanded the case back to staff for review of a compliance plan due by September 15. The exchange had flagged the company as non-operating after Venezuela seized its Brisas Project in 2009, yet Gold Reserve meets all quantitative standards and holds resources to resume operations soon. It must prove a path to operating status. Delisting looms if the plan fails.
10-Q
Q2 FY2011 results
Gold Reserve's Q2 2011 results show a net loss of $6.9 million, up from $4.2 million a year earlier, driven by arbitration costs against Venezuela that jumped to $2.8 million from $1.3 million while other income rose modestly to $0.5 million on equipment and securities gains. Cash climbed to $60.9 million, bolstered by $8.6 million in equipment sales offsetting $6.5 million in operating outflows, yet shareholders' deficit widened to $14.8 million amid $101.3 million in convertible notes due for potential repurchase in 2012. The company holds $28 million in Brisas-related assets for sale. Arbitration hearing set for February 2012. Political instability in Venezuela poses ongoing risks.
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