June 16 (Reuters) - Gold Reserve Inc GRZ.V
* Gold Reserve receives first payment from Venezuela
* Entered further amendment to settlement agreement previously entered into with Bolivarian Republic of Venezuela
* Under terms of amended settlement agreement, venezuela will pay Gold Reserve a total of approximately US$1.03 billion
* Amended settlement deal contemplates venezuela's obligations thereunder will be partially collateralized with Venezuelan sovereign debt
* Gold reserve - venezuela paid gold reserve initial installment of US$40 million, will pay balance of amount owing in installments over about next 2 years
* Amended settlement agreement contemplates Venezuela's obligations thereunder to be partially collateralized with Venezuelan sovereign debt
* Co, Venezuela counterparts ratify commitment to move forward towards creation of JV named Empresa Mixta Ecosocialista Siembra Minera, S.A Source text for Eikon: ID:nBw5KgpLya Further company coverage: GRZ.V