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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

Comment by urai58on Nov 24, 2024 8:22am
12 Views
Post# 36327858

RE:RE:Regular analyses in the German-speaking Forum on Gabriel

RE:RE:Regular analyses in the German-speaking Forum on Gabriel@RIDER1975 - Thank you for the question.
 
The Argentinian arbitrator (who decidedly does not support the majority opinion) mainly commented on the environmental permit procedure. According to his opinion, there was a political intervention in the procedure: the rejection of the special law on September 9, 2013 in the Romanian parliament. The Prime Minister, who brought the law to parliament, also voted against it.

In addition, A. Grigera Nan showed that Romania's continued (negative) behavior against Gabriel Resources violated the Canada-Romania BIT. The majority of the arbitration tribunal is of the opinion that the misconduct was time-barred. A. Grigera Nan has shown that the majority opinion on this is wrong.
 
P.S. Added to this is the inclusion of Rosia Montana in the UNESCO list of threatened landscapes. The majority is of the opinion that mining operations would still be possible - if the environmental permit were granted. Therefore, it was not expropriation. A. Grigera Nan has not written anything about this - but White&Case has written about it in the annulment request.
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