On Wednesday, Gabriel said a regional referendum in the Apuseni mountain region of western Transylvania had backed its plans to resume mining in the area by a margin of nearly two to one. But a limited turnout still left numbers voting below the 50 per cent required to make the referendum legally valid.
Nevertheless, Gabriel said the vote could help put pressure on the Romanian government to speed up permit applications on the project, that has been stalled since 2007. Nevertheless, the news failed to lift Gabriel’s share price this week. On Friday it stood at C$2.59, at the lower end of its 52-week range of C$1.27 and C$6.77.