Insider sells GBU while Carpathian starts gold productionGBU is a one trick pony while Carpathian just announced production today in Brazil as well as 8 mil ounces in Romania .So why would anyone buy here at this price while insiders sell?
| Company Name : Gabriel Resources Ltd. |
Last Updated: December 12, 2013 |
| Date |
Symbol |
Insider
Buys
Volume |
Insider
Sells
Volume |
Insider
Buys
Value $ |
Insider
Sells
Value $ |
Insider
Buys
Transaction |
Insider
Sells
Transaction |
Currency |
| 12/12/2013 |
GBU |
0 |
98,300 |
0.00 |
111,228.50 |
0 |
438 |
CAD |
Carpathian: T.CPU Wet commissioning and start-up of the process plant has taken place and, with the granting of the APO, the processing and leaching of ore can commence to produce gold. During the commissioning and start-up phase, the process plant has been operating on a continuous basis at a feed rate of 8,500 to 9,000 tonnes per day, which is well above the initial planned rate of 7,000 tonnes per day. During the start-up period, the grinding mill consumed energy at approximately 65% of the estimated power to generate a final product at the design particle size of 80% passing 53 microns. This reduction in power consumption may represent a major opportunity for a reduction of the estimated operating cost of the plant.
With gold now in the circuit it is anticipated that the first gold pour will be in December and that the project will produce in excess of 100,000 ounces of gold per year.