Gabriel Resources Ltd V.GBU

Alternate Symbol(s): GBRRF

Metals & Mining Gold

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.

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Gabriel Resources Ltd

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Post by emgib1on Dec 10, 2012 11:14am

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Post# 20707560

Romanian newspaper translation (vote invalidated

Referendum on mining project in Rosia Montana, invalidated

A local referendum held on Sunday in 35 villages and towns in the county of Alba on mining project in Rosia Montana mining Apuseni was invalid, given that it participated in 43.20% of voting citizens, to 50 percent plus one, as needed.

According to County Elections Office for referendum on public consultation, on Sunday in 35 cities and municipalities in the Apuseni Alba on mining project in Rosia Montana and were given 43.20 percent of voting citizens, thus that the referendum was invalidated because of this low.

For the referendum to be valid, should have hit the polls more than half of the voting citizens.

According to him, 62.45 percent of citizens who went to the polls voted "Yes" and 35 percent "not" being canceled 1.65 percent of the votes cast.

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The total number of people expected to vote on the referendum was over 72,000.

The referendum was organized by the Alba County Council, in 35 communes and towns, mostly in the Apuseni Mountains, in cities that Zlatna Campeni Abrud Baia de Aries and Rosia Montana, Lupsa Stremt, Vadu Motilor, Bucium Ciuruleasa, Ramet, otter, Sohodol, Ponor Bacainti sky, Almasu Great Posaga, Rimetea, Intregalde, Lower Galda, Jack, Metes, Albac, Pittsburgh, Avram Iancu, Bistra, Garda de Sus, Korea, Ighiu, orchards, Mogos , Ocolis, Glade Vad, willows and Scarisoara. Voting citizens of these towns had answered "Yes" or "No" to the question "Do you agree with restarting mining in the Apuseni Mountains and exploitation in Rosia Montana". Referendum costs amounted to nearly £ 300,000.

Rosia Montana, Alba, is the most important gold deposit in Romania. This estimated at about 300 tons of gold and 1,600 tons of silver, was leased in order to exploit the RMGC. The company is controlled by Canadian company Gabriel Resources, which owns 80.46% of the share capital. State by company Minvest Deva, has a 19.31% stake in RMGC.

Behind the Canadian company Gabriel Resources to find big names in the business world as billionaire John Paulson, Beny Steinmetz and Thomas Kaplan.