Gabriel (T.GBU) tables Q4 results, no clarity on Romania gold project

Canadian Press, The Canadian Press
0 Comments| March 13, 2014


TORONTO _ Gabriel Resources Ltd.  (TSX: T.GBU, Stock Forum) reported a fourth quarter loss of $500,000 as it was forced to increase spending on communications and lawyers amid an ongoing review of its key project by the Romanian government.

The company said in a press release. that despite various committees examining the Rosia Montana mine project and some of its permits, ``no progress or clarity of process has been forthcoming'' in the quarter.

As a result, it cannot provide shareholders with any guidance on time frames for the project. It also expects the cash impact to affect first quarter spending.

The stock fell 1.7% to $1.17 in early trading.

Tags: INDUSTRIAL METALS & MINERALS

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