An announcement from Gabriel Resources ( (TSE:GBU) ) is now available.
Gabriel Resources Ltd. announced that the ad hoc committee reviewing its annulment application of the ICSID award has decided to continue the provisional stay of enforcement only if Gabriel provides a bank or third-party guarantee for the cost award. The company faces financial challenges, as it lacks sufficient cash or collateral to secure the required guarantee, despite a recent private placement. This situation underscores the urgency for Gabriel to secure additional funding to maintain operations and pursue its legal proceedings.
More about Gabriel Resources
Gabriel Resources Ltd. operates in the mining industry, focusing on the exploration and development of mineral properties. The company is primarily known for its efforts to develop the Rosia Montana gold and silver project in Romania.
YTD Price Performance: 6.06%
Average Trading Volume: 29,438
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$13.19M
Learn more about GBU stock on TipRanks’ Stock Analysis page.