Gabriel Resources Ltd. Reports 2024 Financial Results and Legal Challenges

Gabriel Resources Ltd. published its financial results for 2024, highlighting several ongoing legal challenges. The ICSID arbitration against Romania ended unfavorably for Gabriel, with a tribunal ruling against them and ordering a US$10 million costs award to Romania. Gabriel disputes the tribunal's constitution, citing undisclosed conflicts and procedural failures.

In 2024, Gabriel completed a private placement of common shares generating US$3.25 million. However, financial uncertainties persist, with a net loss of $10.9 million for the year. The company further planned another fundraising round in 2025, aiming for US$4 million.

Gabriel continues to pursue annulment of the arbitration decision while facing challenges related to their Roșia Montană project in Romania. The Romanian National Agency's rejection of the project's license extension is legally contested by Gabriel, adding to its ongoing contentious relationship with Romanian authorities.