If there is an explanation for how Gabriel Resources stocks managed to recover half their losses yesterday, I suspect it was the words of Dragos Tanase, general manager at RMGC, spoken yesterday. As reported by Mediafax, Tanase had the following response to the commissions findings: the state participation increase to 25 percent was done under the conditions of the Rosia Montana project as it is structured now. It is possible [for] our board to not maintain this offer if the project is changed into a much different form. Tanase is referring to Romania as a shareholder in Rosia Montana Gold Corporation. Ahead of a final parliamentary vote, he is essentially saying that Romania will suffer the consequences if it fails to approve a series of legislative overhauls of the mining laws that the company has worked so assiduously to have drafted and passed in its favor. In other words, do not bite the hand that feeds you.
Posted on: Wed, 13 Nov 2013 20:04:17 +0000
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