$12.6 mln loss for Gabriel in 2006

The capital cost estimated for the Rosia Montana project development, including interest, financing and corporate costs, could reach up to $750 million.
Gabriel Rosia Montana, a subsidiary of Canadian-based Gabriel Resources, started buying residential properties in October, 2006, spending $25.3 million in the fourth quarter of the year, and presently owns more than half of the properties needed for the project area and the first five years of exploitation. The mining company is currently engaged in the exploration and development of mineral properties in Romania and is presently developing its 80-percent owned Rosia Montana gold project.

Vlad Praoveanu