Gabriel Resources Navigates Setbacks and Plans Fundraising

Gabriel Resources (TSE:GBU) has released an update.

Gabriel Resources Ltd. reported a challenging year with a net loss of $24.9 million and a binding arbitral decision against them, requiring payment of legal fees to Romania. Despite these setbacks, they secured $3.23 million from warrant exercises and announced a fundraising effort expected to extend their working capital until November 2024. The company’s leadership acknowledges the disappointment but remains committed to strategic actions that will create shareholder value in the near future.

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