Gabriel Resources Ltd. ("Gabriel") is a Canadian TSX-listed (GBU.TSX) resource company focused on permitting and developing its world class Rosia Montana gold and silver project (the "Project") in Romania.
The Project is owned through Rosia Montana Gold Corporation S.A. (RMGC), in which Gabriel holds an 80.69% stake with the balance held by the Romanian State.
Footnote: The structure shown above excludes the Gabriel Group's intermediate holding structure. The detailed corporate structure is available in Gabriel's Annual Information Form on www.sedar.com.
The Project is one of the largest undeveloped gold deposits in Europe with Proven and Probable Reserves of 10.1 million ounces of gold and 47.6 million ounces of silver (215 million tonnes at average grades of 1.46g/t gold and 6.88g/t silver) - see Mineral Reserves & Resources. Additional exploration potential exists in Bucium, some 5km away.
This Project is in an area which has been mined for many centuries, and as recently as 2006 was subject to open pit mining by Minvest, a Romanian state-owned company. It is being brought back into production by the close co-operation and support of Gabriel's partners and stakeholders. Gabriel and RMGC are facilitating negotiations, lobbying and representing local interests and raising awareness of the economic decline and environmental degradation issues facing the area together with the significant benefits the Project can bring, in order to ensure a successful outcome for this Project to the benefit of all stakeholders.
Gabriel and RMGC will strive to set the highest standards through good governance, skilled engineering, open and transparent communications, and operations and reclamation based on globally recognised best available techniques. Our mission is to create value for all of our stakeholders from responsible mining, and our vision is to build the Project to be a catalyst for sustainable economic, environmental, cultural, heritage and community development in Romania.
The Project is anticipated to bring US$19 billion to Romania as potential direct and indirect contribution to GDP according to 2010 estimates from UK-based Oxford Policy Management (using a gold price of US$900/oz), and over US$24 billion using a gold price of US$1,200/oz. This is a significant economic impact, creating thousands of employment opportunities and new business possibilities, as well as making a major contribution to both local and central governmental budgets. More >
The goal for Gabriel is to build a world class modern mine using best available techniques and implementing the highest environmental standards. The Project creates an opportunity to remediate past damage, created by over 2000 years of mining in Rosia Montana, leaving the region's rivers cleaner than before. The Project is designed to the highest standard and in compliance with all Romanian and EU stringent environmental laws creating a model mining project not only for Romania and the EU but for future mining projects worldwide. More >
Gabriel is committed to fostering the sustainable development of the Rosia Montana community. This includes a comprehensive set of programmes designed to improve living standards, addressing education, skills training, assistance for the elderly, health issues, job and business creation, and respect for the area's archaeological heritage. More >
Gabriel has financed programmes for restoring, preserving and honouring Rosia Montana's valuable cultural heritage. Over US$30 million has been invested in exploration and recovery of Rosia Montana's cultural heritage, one of the largest privately funded programmes in Europe. More >