on Gabriel Resources Ltd. (CVE:GBU)
Gabriel Resources Ltd. Announces Closure of ICSID Annulment Proceedings
Gabriel Resources Ltd. has reported that the annulment proceedings concerning its dispute with Romania have formally closed. According to Gabriel, the dispute, heard by the International Centre for Settlement of Investment Disputes (ICSID), centers on an arbitral award dated March 8, 2024. The ad hoc Annulment Committee is slated to release its decision by November 13, 2026.
The proceedings involve Gabriel and its subsidiary, Gabriel Resources (Jersey) Limited, and challenges the ICSID Case No. ARB/15/31 award. Gabriel anticipates additional communications post-decision, reflecting standard protocol.
Gabriel Resources, a Canadian company, controls a significant interest in the Roșia Montană gold and silver project. Challenges persist following Romanian authorities rejecting a project license extension in 2024.
R. H.
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