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Gold Reserve Snapshot
Gold Reserve's primary asset was the Brisas project in Venezuela, which contains estimated reserves of about 10 million ounces of gold and 1.4 billion pounds of copper. Gold Reserve had been developing Brisas since 1992. However, all activity on the mine ceased in late 2009 when the Venezuelan government canceled Gold Reserve's permits and seized the assets of the Brisas project. The company is pursuing an arbitration claim through the World Bank against the Venezuelan government in an effort to recoup its investment in the Brisas project. The company is actively pursuing other mining opportunities while it appeals the Venezuelan actions, though it was not engaged in any commercial production in late-2010.
