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 > Optimistic outlook

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Comment by churchofnutsaccon Feb 28, 2024 8:17pm

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Post# 35905284

RE:RE:RE:RE:RE:Optimistic outlook

It's an unfair assumption to label Gabriel as only a junior that was only ever looking to sell. They would have been very capable of raising the capital needed to actually develop this mine and produce the metals if not for the Romanian government.

Back of napkin math for their resources on say, $800 margin for gold and $12 margin for silver, minus a billion or so for development costs gets you pretty close to around $8 billion USD. Let's meet in the middle and say $4 billion USD and the Romanian government is getting away easy here.

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