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🔔 Gold Reserve Agrees to Pay $5M in Bank Fees Linked to PDV Holdings Loan

Gold Reserve Ltd. has agreed to settle about $5 million in commitment fees with banks tied to the loan facility it used to bid for PDV Holdings shares, as part of its ongoing efforts to recover Venezuelan assets — including interests tied to Citgo.

Key Facts:
• The payment covers commitment fees owed to banks that supported the loan used for its PDV Holdings bid.

• Gold Reserve is also reviewing and enhancing security plans for a potential safe return to operations in Venezuela following political changes.

• The move comes amid ongoing legal and operational developments related to Citgo sale proceedings and appeals connected to Venezuelan asset recovery.

Expert Insight:
Settling the bank fees helps maintain financial and partner relationships as Gold Reserve pursues long-running claims tied to Venezuela’s nationalized assets. It signals continued strategic positioning ahead of possible negotiations or legal resolutions in asset recovery.

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