Gabriel Resource’s Gold Mining Project Rejected By Romania

Gabriel Resources Ltd. (TSE:GBU)’s gold mining project in northwestern Romania has been rejected by a Romanian parliamentary commission, likely bringing the company’s 14 year bid to open Europe’s largest open pit gold mine to an end, reports Armina Ligaya for the Financial Post. The news pushed Gabriel Resource’s stock price down 10% on the Toronto Stock Exchange.

“It doesn’t mean the plan is dead in the water. What they have said is that they believed that a project that was as complex as our project shouldn’t go through as a separate bill,” said Gabriel Resources Ltd. (TSE:GBU) CEO...