Ruling not overturned: Gold Reserve

Two mining companies are at odds over a court ruling dealing with property rights in Venezuela.

Gold Reserve (TSE) of Spokane, Wash., says TVX Gold (TSE) was incorrect in announcing that a ruling in favor of Gold Reserve subsidiary Brisas was overturned by the Second Superior Civil Appellate Court of Caracas. Gold Reserve says a judge of the First Appellate Court of Puerto Cruz reaffirmed his ruling of July 6 (against Gold Reserve) but did not overturn the Second Superior court ruling of July 13 (in favor of Gold Reserve). The company says “it is still custodian of the Brisas concession and is in possession of the property.”