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Gold Reserve gets another US$29.5M settlement payment from Venezuela

Gold Reserve Inc. said Oct. 13 that Venezuela paid it US$29.5 million as part of a settlement agreement related to the revocation of permits to the Brisas gold project.

In recent months, it has reported similar payments that stem from the resolution of a dispute over rights to Brisas.

Meanwhile, Gold Reserve said it was pushing ahead with its 45%-owned Siembra Minera project in Venezuela. It plans to produce a preliminary economic assessment of the project in November and to drill the project in 2018.