Less than 3 percent of Gold Reserve's (GRZ-T, GRZ-X) shares have been tendered so far in Rusoro Mining's (RML-V, RMLFF-O) hostile takeover bid, prompting Rusoro to extend the deadline another month to Feb. 18. "Gold Reserve shareholders are sending a clear message to Rusoro - that the offer is opportunistic, financially inadequate and significantly undervalues Gold Reserve's assets and its overall contribution to the combined company," Doug Belanger, Gold Reserve's president, said in a statement on Jan. 20. Belanger urged shareholders not to tender their shares and for those who have to withdraw them.
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