Gabriel Resources Reports on Third Quarter 2024, Faces Arbitration Challenges

Gabriel Resources Ltd. released its third-quarter financial results, reflecting ongoing legal and financial challenges. The company announced that the Arbitral Tribunal dismissed its claims against Romania, ordering Gabriel to pay around $10 million. Gabriel has appealed this decision, requesting annulment and a provisional stay on the costs order, but the process is uncertain.

Financially, Gabriel reported $0.6 million in cash by September 30, down from $2.5 million in Q2 2024, with a quarterly loss of $2.6 million. Recently, the company secured $1.5 million in short-term loans to support operations through January 2025. Gabriel aims to secure further funding to continue the annulment proceedings and operational activities.