Gold Reserve Ltd.
IMPORTANT: Gold Reserve Ltd. does not currently operate any mine. Its historic Venezuelan gold-copper deposits -- Brisas (~10Moz gold resource historically reported) and Siembra Minera (also holds copper/silver) -- were seized/revoked by the Venezuelan government (Brisas ~2008-09; Siembra Minera mineral rights revoked Mar 2022), and Gold Reserve has pursued international arbitration for both: a ~US$1.1 billion award (from a 2014 ICSID ruling) was confirmed by a Portuguese court in Feb 2025, and a fresh ICSID claim exceeding US$7 billion over Siembra Minera was filed Mar 2025. Since the Jan 2026 capture of Venezuelan leader Nicolas Maduro by US forces and the transition to a new administration under President Rodriguez, Venezuela enacted a new mining law (16 Apr 2026), and Gold Reserve signed a binding term sheet in May 2026 granting Augusta Capital Corporation an earn-in right to 50% of its Siembra Minera interest to try to reactivate the project under the new legal framework -- a real, active effort, but not a confirmed, de-risked operating project, and this record does not write reserve/NPV/mine-life figures for either Venezuelan deposit on that basis. Gold Reserve's one uncontested, wholly-owned current asset is the early-stage LMS Gold exploration property near Delta Junction, Alaska (limited annual field activity, no resource estimate to date). The Board has also approved a spin-out of American Heralds Mining Corporation, a US-domiciled entity to advance separate Western Hemisphere projects. Paul Rivett is Executive Vice-Chair & CEO; David P. Onzay is CFO. Domiciled in Pembroke, Bermuda.
Notable vs. Peers
- Jurisdiction risk score of 2/10 is meaningfully riskier than the peer average of 7.8/10.
- Financials score of 8.9/10 is stronger than the peer average of 6.6/10.
Lifecycle Milestones
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.
Your Rankings
Management Team
Executive Vice-Chair of the Board and Chief Executive Officer of Gold Reserve Ltd., leading the company's pursuit of both international arbitration against Venezuela and active reactivation efforts (the May 2026 Augusta Capital earn-in on Siembra Minera) following Venezuela's Jan 2026 political transition. Career: President, Fairfax Financial Holdings Limited (2013-2020, a real, major multinational insurance and investment-management company, incl. earlier VP/COO roles at its Hamblin Watsa Investment Counsel Ltd. subsidiary), retiring voluntarily after 17 years with the group; began his legal career at Blake, Cassels & Graydon LLP, later Shearman & Sterling. Post-Fairfax, oversaw Tevir Investments Inc. (a family office) before joining Gold Reserve. BSc Economics, University of Toronto; Master's in Industrial Relations and law degree, Queen's University.
Chief Financial Officer of Gold Reserve Ltd., with the organization since 1993; transitioned to the CFO role in Jan 2022.
Executive Vice President and Chief Development Officer of Gold Reserve Ltd. Brings over 30 years of operational experience building, scaling and transforming businesses across family, private equity and public ownership. No specific prior employer names were disclosed in any source found this pass -- an honest gap, not filled with fabricated company names.
Chief Operating Officer of Gold Reserve Ltd., effective 8 Jan 2026. Over 10 years' experience in investment banking, capital markets and private equity across North American and Asian markets, including transaction origination/execution, operational oversight and portfolio management. No specific prior employer names were disclosed in any source found this pass -- an honest gap, not filled with fabricated company names.
Chief Legal Officer of Gold Reserve Ltd., effective 8 Jan 2026. A corporate lawyer with experience in mergers and acquisitions, securities, financing and corporate governance matters. No specific prior employer names were disclosed in any source found this pass -- an honest gap, not filled with fabricated company names.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Gold Reserve Ltd.'s register was checked directly and found genuinely empty of any strategic or specialist holder. Worth flagging separately: this DB's description of GRZ as 'GRASSROOTS gold, Venezuela' is stale -- the company has redomiciled to Bermuda and is now functionally a CITGO-litigation vehicle following its Venezuela ICSID arbitration award, not an active gold exploration company.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
We haven't parsed this company's PEA/PFS/FS recommendations yet — cut-off grade, mine life, DCF/NPV, and the report's own next-steps guidance are a planned research pass, not live data for every company yet.