Topic: Growth Stocks

The Stock Pickers Digest Hotline – Friday, May 30, 2008

Article Excerpt

GABRIEL RESOURCES, $2.99, symbol GBU on Toronto, has nearly doubled for us since late April. Gabriel now has three major shareholders. New York City-based resource investor Thomas Kaplan began buying Gabriel shares in December, 2007 through his Electrum Strategic Holdings LLC. He is now Gabriel’s third-largest shareholder with a 14.4% stake. Newmont Mining, symbol NEM on New York, is Gabriel’s largest shareholder at 18.4%, followed by New York City-based hedge fund, Paulson & Co. at 18%. Gabriel announced this week that it will add five new members to its existing eight- member board. Newmont will nominate two additional directors and Electrum will nominate three new directors. Gabriel hopes to develop its 80%-owned Rosia Montana gold project in Romania. With an estimated 10 million ounces of gold reserves and 500,000 ounces of projected annual production, Rosia Montana could potentially become Europe’s largest producing gold mine. However, in September, 2007, the Romanian government suspended the environmental review process for Rosia Montana, forcing Gabriel to…