Gabriel Resources Challenges Seizure of Roșia Montană Gold Corporation Shares

Gabriel Resources, the majority shareholder of Roșia Montană Gold Corporation SA, has initiated legal action against various Romanian institutions and RMGC itself, contesting the seizure imposed on the company’s shares to settle a USD 10 million debt owed to Romania. The debt stems from damages awarded to Romania by the International Center for Settlement of Investment Disputes (ICSID) following the cessation of the gold mining project at Roșia Montană. Meanwhile, RMGC has filed separate lawsuits against Romanian authorities. Four cases have been brought before the Alba Tribunal, with Gabriel Resources and RMGC as plaintiffs, challenging resolutions and precautionary measures imposed by Romanian authorities to secure the debt settlement.