Gabriel Moves Forward

Article Excerpt

GABRIEL RESOURCES $4.88 (Toronto symbol GBU; SI Rating: Speculative) (416- 955-9200; www.gabrielresources.com; Shares outstanding: 210.9 million; Market cap: $1.0 billion) reached a new high of $5.45 recently after it received the official list of questions from the Romanian Ministry of Environment and Water Management relating to its proposed Rosia Montana gold project. In keeping with the process prescribed by Romanian law and European Union directives, these questions must be addressed as part of the environmental impact assessment. The Rosia Montana mine has the potential to be Europe’s largest open-pit mining development. The mine would take two years to build, and production could begin in 2009. However, the risks of investing in Gabriel Resources are high, and there are still more steps in the permitting process, so it’s a buy only for highly aggressive investors. investors…

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