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Gabriel Resources Ltd V.GBU

Alternate Symbol(s):  GBRRF

Gabriel Resources Ltd. is a Canadian resource company. The Company's principal business consisted of exploration and development of the Rosia Montana gold and silver project in Romania. The Rosia Montana Project, one of the largest undeveloped gold deposits in Europe, is situated in the South Apuseni Mountains of Transylvania, Romania, an historic and prolific mining district. The Bucium exploration concession is located approximately five kilometers to the southeast of Rosia Montana in Western Transylvania and bordering the Rosia Montana exploitation permit. The exploitation license for the Rosia Montana Project is held by Rosia Montana Gold Corporation S.A., a Romanian company in which the Company owns an 80.69% equity interest, with the 19.31% balance held by Minvest Rosia Montana S.A., a Romanian state-owned mining company. Its subsidiaries include Gabriel Resources (Barbados) Ltd., Gabriel Resources (Netherlands) B.V., Gabriel Resources (Jersey) Ltd. and RM Gold (Services) Ltd.


TSXV:GBU - Post by User

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Post by brian0672on Nov 06, 2013 9:23am
385 Views
Post# 21880393

Romanian Parliament commission’s final vote on report about

Romanian Parliament commission’s final vote on report about

The first part of the report on the controversial Rosia Montana mining project in Romania has been completed and a final vote might be given today (Wednesday 6), according to the president of the Rosia Montana Commission, Social Democrat Party senator Darius Valcov.

He also stated that there are “significant differences of opinion” within members of the commission.

“We can’t keep these differences in the report. This is the problem. Part of the working group members came with completely opposite points of view and we must harmonize them,” added Valcov, quoted by local news agency Mediafax.

 

According to Darius Valcov, the members of the commission will meet on Wednesday (November 6) to give a vote on the first part of the report on the Rosia Montana mining project draft bill, including the hearings’ summary.

Also, the commission will give a vote on each conclusion of the four working groups that have analyzed the impact of the mining project from different perspectives, namely economic, environmental, heritage and legal.

The Rosia Montana gold mining project has become a sort of ‘hot potato’ for Romania, triggering weeks-long street protests, as Romanians fear the environmental consequences of cyanide use.

The project is controlled by Canadian firm Gabriel Resources, and the Romanian state has a minority stake in Rosia Montana Gold Corporation firm, which should run the project.

It is now up to the Romanian Parliament to give its vote on the project, after the Government approved it earlier this year.

The gold mine project has been stalled for several years because a lack of necessary approvals.

Irina Popescu, irina.popescu@romania-insider.com

 
 
 
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