Hows that for a play on words. I think that GRZ has grown tired of trying to move their project to the construction phase; why else would Mr. Belanger make the above comment? RML's offer was rightfully rejected by GRZ and I would say they (RML) have deployed low ball tatics to gauge GRZ's response. I for one hope that GRZ holds out for a much higher offer (which should be forthcoming and invited by GRZ to all and anyone who may be interested) knowing that their deposit is 10 million oz of gold and worth much more then what RML offered. I find myself wondering why their permit was denied and perhaps it was by design to prevent other potential bidders from entering the bidding process knowing that they would not be interested without a permit in place. Again a catalyst for a low ball bid from RML to GRZ. (thank goodness KRY has a history of mining in VZ with a positive social record and understands what is required to do business with same.)

Link source: http://www.globeinvestor.com/servlet...

"Rusoro, which is traded on the TSX Venture Exchange, suggested two of its shares would be offered for each Gold Reserve share.

“A combination of our two companies will confirm to the market that Venezuela is, and always has been, open for business and that our projects have the full support of the Venezuelan authorities,” stated the letter, dated Aug. 21.

In an interview Wednesday, Mr. Belanger, Gold Reserve's president, pointed out that the Rusoro offer, worth about $90-million, comes at a time when the company has roughly $105-million in cash.

“They sent us a letter, the board looked at it and talked with our advisers and we rejected it. It's basically a market offer. It's inadequate. It's an offer worth less than the current cash we have,” Mr. Belanger said.

Despite the company's troubles in Venezuela, he said Gold Reserve is not for sale. It is, however, open to considering proposals that would maximize shareholder value."