- Rusoro Mining Ltd. (TSXV: RML) faces a Management Cease Trade Order due to delayed financial filings.
- The company aims to complete its 2024 annual audited financial statements by June 30, 2025.
- The trading restriction affects only the CEO and CFO, not other shareholders.
Rusoro Mining Ltd. (TSXV: RML) has issued a bi-weekly status update regarding the Management Cease Trade Order (MCTO) that was placed on the company by the British Columbia Securities Commission on May 1, 2025. The order arose because Rusoro failed to file its annual audited financial statements for the year ended December 31, 2024, by the April 30, 2025 deadline.
The MCTO specifically restricts the company's Chief Executive Officer and Chief Financial Officer from trading in Rusoro's securities. However, other shareholders, including the general public, are not affected by this restriction and are free to trade the company's stock as usual.
Rusoro confirmed that it is actively working with its audit team to complete the required filings, with a target to meet the June 30, 2025 deadline. The company reiterated that there have been no material changes or undisclosed information since the original default announcement. Moreover, it has committed to continuing its bi-weekly status reports under National Policy 12-203.
Rusoro Mining is primarily involved in the acquisition, exploration, development, and operation of gold mineral properties, though its current focus has shifted towards the recovery of its Arbitration Award following the expropriation of its assets in Venezuela in 2012.
