TORONTO _
Gabriel Resources Ltd. (
TSX: T.GBU,
Stock Forum) says the deadline for a key report needed to debate the fate of its Rosia Montana gold mine in Romania has been extended by three weeks.
The company said last month that study was continuing on whether the mine would go ahead, despite government threats to shut down debate on granting the necessary permits.
That report was due Oct. 20, but
/www.stockhouse.com/news/press-releases/2013/10/23/gabriel-resources-ltd-rosia-montana-special-committee-of-parliament-report">Gabriel says in a press release the Romanian parliament has extended the deadline to Nov. 10.
The findings of the committee will go to the standing bureau of the senate, which will debate the draft law - legislation that Gabriel needs to proceed with the mine.
The draft law will then go to the chamber of deputies, the decision-making body of parliament.
The Romanian government threatened last month to enact an emergency procedure to halt debate of draft legislation, which would have killed the proposal before it even reached the two chambers of parliament.
The project would be one of Europe's biggest gold mines, but it has faced local opposition over its planned use of cyanide in the processing.
Gabriel Resources has been waiting for 14 years for permits for the mine and has promised to develop the mine in a sustainable way.
Gabriel shares rose 1.1% to 92 cents Wednesday, leaving a market cap of $353.4 million, based on 384.1 million shares outstanding. The 52-week range is $2.94 and 41 cents.
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