Gabriel Resources (TSE:GBU) has released an update.
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Gabriel Resources Ltd. has announced its disagreement with the Romanian National Agency for Mineral Resources’ (NAMR) rejection of their license extension for the Roşia Montană Project and plans to legally contest the decision. Furthermore, the company is challenging a Tribunal’s dismissal of its arbitration claims and the associated US$10 million costs order through an annulment process. Gabriel Resources is also awaiting a response from NAMR regarding exploitation licenses for the Bucium Projects, initially applied for in 2007.
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