Gabriel Resources (TSE:GBU) has released an update.
Gabriel Resources Ltd. reports a first-quarter net loss of $1.8 million and is considering challenging a legal decision requiring the company to pay $10 million to Romania for legal fees. The company completed an initial tranche of fundraising, securing $3.25 million, and is seeking additional financing to sustain operations through November 2024. Gabriel Resources ended the quarter with $2.2 million in cash, down from $4.6 million in the previous quarter.
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