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Rusoro Mining

Mining Companies - Gold Companies

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Rusoro Mining is a junior gold producer, with a large land position in the prolific Bolivar State mining region in southern Venezuela.  The Company operates the Choco 10 and Isidora Mines located near the town of El Callao. Production Guidance for 2009 for the two mines combined is 170,000 oz Au.  Rusoro is listed on the Toronto Venuture Exchange under the symbol (RML).  SP on 26 May was .23.


The Company is active on five development/exploration projects in the region as it looks to add to its already significant gold reserve and resource base. The Company completed a Preliminary Assessment for a significant production expansion at the Choco 10 Mine and Mill in Q2 2009. Upon receiving very favorable economics in the PA study


The company immediately commissioned a Feasibility Study, which is anticipated to be completed in 2010. The Feasibility Study and ultimately the expansion plans will include the Incredible 6 deposit located 6km from the Choco 10. Additionally the Company will continue to advance the SREP project toward future inclusion into the Company's production profile




Rusoro has two operating Mines and ten exploration projects (including development and exploration around the mines) which range from early stage to advanced/development stage gold projects in Venezuela.


Rusoro Mining Ltd. has two operating mines and two advanced projects nearing the production stage. The operating mines, the Choco 10 Mine and the Isidora Mine, are located in the El Callao region. The ore from both mines is process through the facilities at the Choco Mill. 

The two development stage projects are the Incredible 6 in El Callao, located 6km from the Choco 10 and the San Rafael/El Placer (SREP) located near the town of El Dorado adjacent to the Company's La Camorra and Emilia Mills.



Rusoro currently has ten Exploration/Development projects at various stages of development. This includes exploration and development work around the Choco 10 and Isidora operating mines in El Callao.

Overall the Company has a significant land position in the major gold mining districts in Bolivar State Venezuela . The region boasts an excellent geological setting and tremendous gold discovery potential which is exemplified in the success rate at the current projects to date, which translates to the discovery of approximately 30 oz of gold discovered per meter drilled.
  As part of the Company's aggressive growth strategy, Rusoro has drilled more than 400,000m since 2007 and will continue to have multiple drill rigs operating in 2010. The drilling is designed to expand and upgrade the Company's current NI 43-101 resources.


NI 43-101 Resources

M&A: 2.5 G/t Au   7.1 M Oz

Indicated:  1.9 g/t  7M Oz


Share structure

S/O 529.8M

FD 678.9M


Vladimir Agapov
Position: Chairman of the Board, Director

Andre Agapov
Position: Chief Executive Officer, Director

George Salamis
Position: President, Director

Roman Amosov
Position: Chief Operating Officer

Matias Herrero
Position: Chief Financial Officer

Jose Manuel Rodriguez
Position: Venezuelan General Manager

Dmitry Ushakov
Position: VP Corporate Development, Director

Gregory Smith, PGeo
Position: Vice President Exploration



q3 2009

Cash 35M

Liabilities 113M


Diluted (0.00)


News Releases




Comments (5)Add Comment
Jeff Nielson
written by Jeff Nielson, September 29, 2010
Venezuela is the new "Cuba" in that the U.S. is doing everything it can to destabilize the government (and the economy).

My primary fear of Venezuela is not Chavez, himself, but what he might be forced to do to fend-off these covert U.S. "attacks" on his country.
written by GregGH, September 29, 2010
one more point on Venezuela ---see this url --and click on the upper left pulldown box for 'inflation' ... a handy web site for data geeks

I struggle with economics - but a country with 30% inflation has to be a tough place to keep costs under control.

disclosure - still trying to buy this stock at my price point - stock if going up without me ...damm'

Brian Boutilier
written by brian boutilier, September 29, 2010
If I read that Russian phrase right, I think he is alluding to this: The finished prodect of a cottage in Ukraine.
It is necessary to admit that currently while building a complete residential house in the suburb land plot one can meet many difficulties, one of them is change of the purpose usage of the land site. This procedure includes the necessity of cooperation with officials of great many of instances. And it should be better carried out before the process of building. But if it happened state authorities treat such event in a mild way, so the only thing you should do is to pay an administrative fine in the sum not to large comparing to the cost of the house..
Or not. Hope we get help with the meaning from the contributor.
written by UvarovLeonid, September 29, 2010
Готовый проект коттеджа в Украине
written by GregGH, September 25, 2010
Interesting - Venezuela - wow - headaches GRANDE. Interesting that I stumbled across a new release (link - ) on how miners are limited to exports of 30% but Rusoro got exemption for 50% - was not mentioned in Company PDF. Any idea how dependable their power is -you hear of major black outs ?? Also see another Cdn miner ( Crystallex KRY ) in area but without the apparent Russian 'connection' ... these would be great biz class cases. This could make a good movie plot.


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