Rusoro Mining

Published : January 28th, 2009

insiders buying, growing production & positive cash flow

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Rusoro Mining



Precious metals warrants

The Warrant Report

A Special Report

www.preciousmetalswarrants.com
 
Rusoro Mining:

Insiders Buying, Growing Production & Positive Cash Flow
 
I want to give subscribers and followers of our services a short update on Rusoro Mining (RML-TSX - $0.66), just one of many companies included in our Warrant Database.

The warrants now trade at 12 cents (RML.WT) and dipped as low as 2 cents in year end tax loss selling in December 2008. The warrants have a $4/share strike price and expire on Nov. 29, 2012 - almost a full four years from now. While they are well out of the money, we are still very bullish on gold, and four years is a long time.

A very positive development is that Rusoro has recently made our list of companies with Insiders Buying. We find that 3 officers/directors have been buying in the open market since October 2008 and there has been no selling. The fact that company insiders are buying a company's shares is always a factor that investors should consider in their decision making process of buying.

Rusoro operates in Venezuela , and is focused on two fronts: a hostile take-over of Gold Reserve (GRZ-TSX; GRZ-AMEX) that would set the stage for a remarkable growth curve; and improving production at their current mine, Choco 10.

I don't know if this bid will be successful, but the prize is big - Gold Reserve has the 11 million ounce Brisas deposit. Gold Reserve has not been able to obtain all the permits for production from the Venezuelan government.

Rusoro has been successful and is the only private sector gold producer in the country, operating the Choco 10 mill. Rusoro would use its operational and political expertise in the country to get Brisas into production. We expect this tug of war will end in February. If the bid is successful I expect Rusoro to have a jump in share price. If it fails, both companies' share prices will fall, though Gold Reserve by much more.

Operationally, Rusoro had record quarterly gold production (38,868 ounces) in the fourth quarter of 2008 and record low cash costs ($358 ( U.S. ) per ounce) for the same period at Choco 10, which it acquired Nov. 30, 2007. It was the first quarter of positive cash flow from operations.

The Choco 10 mill processes ore from two deposits - Choco 10 and Isidora. Rusoro just received a series of permits that will allow it to send ore from a third deposit - Incredible 6 - to Choco 10. Rusoro's plan would be to grow Choco 10 to handle more than 300,000 oz a year by 2012 using ore from a combination of the three deposits.

The company has growing production, and now has positive cash flow. However, it also has $80 million in debt to a friendly group headed by Endeavour Financial and Peter Hambro Mining, a London UK-listed gold company that happens to be Russia 's second largest gold producer.

We will update the company two or three times a year as their quarterlies are released or if there is big news on the company.

Investors are encouraged to perform their own due diligence and consult with their investment advisors before making any investments. We currently own a small position in the warrants trading on Rusoro.

Dudley Baker
PreciousMetalsWarrants.com



For more information please contact

Keith Schaefer
Vanguard Shareholder Solutions
Tel: 604-608-0824
Toll Free: 1-866-591-0825

www.rusoro.com

Vanguard Solutions
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Rusoro Mining

PRODUCER
CODE : RML.V
ISIN : CA7822271028
CUSIP : 782227 10 2
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Rusoro Mining is a gold producing company based in Canada.

Its main assets in production are LA CAMORRA MILL, CHOCO 10 MINE and BLOCK B (ISIDORA ET AL) in Venezuela, its main assets in development are ISIDORA, SAN RAFAEL/EL PLACER and INCREDIBLE 6 in Venezuela and its main exploration properties are TRINIDAD, YURUAN, TWIN SHEAR, EMILIA MILL, CEIBA and VALLE HONDO in Venezuela.

Rusoro Mining is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 32.7 millions as of today (US$ 26.1 millions, € 22.9 millions).

Its stock quote reached its highest recent level on December 01, 2006 at CA$ 4.19, and its lowest recent point on November 28, 2014 at CA$ 0.01.

Rusoro Mining has 544 770 048 shares outstanding.

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In the News and Medias of Rusoro Mining
1/9/2009featured in National Post and Reuters articles
6/27/2000Hecla's La Camorra Mine Producing At Record Rates
Nominations of Rusoro Mining
5/15/2008Appointments
1/8/2008Appoints new COO
9/27/2007Appoints Omar Salas as CFO
9/4/2007Appoints George Salamis as President
Financials of Rusoro Mining
6/30/2011Reports Q1 2011 Financial Results
8/29/2008Reports Q2 2008 Financial Results
Project news of Rusoro Mining
7/6/2010(Choco 10 Mine)Announces Updated Resource Estimate for the Choco 10 Deposit...
7/20/2009(Choco 10 Mine)Rusoro Mining Initiates Major Engineering Studies
1/14/2009(Choco 10 Mine)Reports Record Gold Production and Record Low Cash Costs fo...
12/19/2008(Choco 10 Mine)Reports Record Gold Production and Record Low Cash Costs at ...
9/6/2008(Isidora)Completes Landmark Agreements with Venezuelan Government to ...
8/7/2008(Isidora) Report Filed for Isidora and Twin Shear Projects Acquired F...
5/9/2008(Choco 10 Mine)Scoping/Feasibility Studies Awarded
1/23/2008Choco 10 Production/Permitting Update
12/10/2007(Choco 10 Mine)News Release - Choco 10 update
11/29/2007UPDATED 43-101 ACCEPTED FOR FILING RUSORO DRILLS 21m of 8.44...
11/21/2007(Choco 10 Mine)2007 Technical report
6/11/2007Intersects 37m of 9.34g/t Au and 21m of 4.72g/t Au in Separ...
5/23/2007Numerous High Grade Intercepts
4/30/2007In-Fill Diamond Drilling Confirms Continuity of High Grade G...
Corporate news of Rusoro Mining
6/25/2015Rusoro Provides Update On Status Of International Arbitratio...
1/23/2014Adopts Advance Notice Policy
1/23/2014Adopts Advance Notice Policy
9/22/2011NR - Gold Law Update
6/16/2011NR
6/14/2011Reports on its Loan Repayment Status
6/22/2010Makes Second Payment of Restructured Secured Exchangeable Lo...
6/11/2010Loan Restructuring Closes
4/15/2010SREP Results
1/12/2010Positive Change in Exchange Rate Policy
11/19/2009Purchases Portion of loan
9/25/2009Aims to be Producing 540,000 Ounces of Gold Per Year By 2012
8/25/2009Q2 Record Production and Low Cash Costs
7/20/2009Initiates Major Engineering Studies at Choco 10 and San Rafa...
6/2/2009reports net income of $0.5 million for Q1 2009 and record pr...
6/1/2009Reports Positive Q1 and Record Production
5/19/2009Preliminary Assessment for Choco 10 Expansion
5/19/2009Reinhard Updates Rusoro Mining
5/19/2009Preliminary Assessment: Production Expansion of Choco 10
3/2/2009Midas Letter interviews Rusoro President George Salamis
2/25/2009Winston highlights Rusoro's rapid growth and low cash costs
2/24/2009Reports Record Gold Production and Cash Costs for January 20...
2/10/2009Withdraws Offer for Gold ReserveThread-Topic: Rusoro Withdra...
2/9/2009OSC SETS HEARING DATE TO CONSIDER CEASE TRADE OF GOLD RESERV...
1/28/2009insiders buying, growing production & positive cash flow
2/2/2009 Applies to Terminate GRZ Poison PillThread-Topic: Ruoro NR ...
1/21/2009featured in 'Business in Vancouver' magazine
1/20/2009Extends Expiry Date of Gold Reserve takeover BidThread-Topic...
1/14/2009Record Production/Cash Costs Q4 2008Thread-Topic: Rusoro NR ...
1/15/2009Reuters covers Rusoro Mining
1/13/2009Blogger interviews George Salamis, President of Rusoro Minin...
1/9/2009Reinhard reviews Rusoro’s takeover bid for Gold Reserve
1/5/2009Responds to Gold Reserve's Directors' Circular.Thread-Topic:...
1/5/2009Responds to Gold Reserve=E2??s Directors=E2?? Circular and O...
12/30/2008Entrenched Gold Reserve Management Continues to Attempt to D...
12/22/2008Mails Bid Documents to Gold Reserve Shareholders; Amends Fil...
12/19/2008Two Rusoro Mining clips from today's BNN Commodities Report
12/19/2008to Defend Against GRZ Attempt to Disenfranchise Own Sharehol...
12/19/2008TO DEFEND AGAINST GOLD RESERVE?S ATTEMPTS TO DISENFRANCHISE ...
12/15/2008LAUNCHES TAKE-OVER BID FOR GOLD RESERVEThread-Topic: RUSORO ...
12/17/2008The Offer From Rusoro Could Be The Best Christmas Present Sh...
12/16/2008FULLY COMMITTED TO BID FOR GOLD RESERVEThread-Topic: RUSORO ...
11/3/2008Expands Resources and Increases Grade at SREPThread-Topic: R...
9/16/2008? Annual General Meeting Results
9/9/2008advances in Venezuela says MineWeb.com
9/5/2008Signs Landmark Agreements with GovernmentThread-Topic: Rusor...
8/28/2008Responds to Gold Reserve News Release
7/10/2008Partners With Venezuelan Govt. - Hecla Assets Acquisition Cl...
7/9/2008drills 39.1 g/t Au over 5.7 m at Yuruan projectThread-Topic:...
6/20/2008NR - Hecla Venezuelan Assets AcquisitionThread-Topic: Rusoro...
5/1/2008CONFIRMS GOOD STANDING WITH GOVERNMENT AGENCIES IN VENEZUELA
4/23/2008Positive Meetings With Mines Minister
12/3/2007Choco 10 Acquisition Closes
11/26/2007 Drilling Starts at Valle Hondo
11/15/2007DRILLS 37m of 9.34g/t Au AT INCREIBLE 6 ALL MAIN GOLD ZONES ...
10/12/2007RAISES $210 MILLION FOR ACQUISITION OF GOLD FIELDS VENEZUELA...
10/12/2007to Acquire Gold Fields’ Venezuelan Assets to become Immediat...
9/11/2007Management Additions at AGM
4/19/2007Positive Results Continue at Increible 6 Gold Project, Boliv...
3/22/2007News reslease
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TSX-V (RML.V)FRANKFURT (PKJ2.F)
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