Gabriel Resources (TSE:GBU) has released an update.
Gabriel Resources Ltd. is facing significant legal and operational challenges following an unfavorable arbitral decision, leading to a US$10 million costs award to Romania and a rejected license extension by the Romanian National Agency for Mineral Resources. Despite raising US$3.25 million in funds, the company foresees the need for additional financing by the third quarter of 2024 to sustain its planned activities.
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