The story
The company now known as Gabriel Resources was formed on 19 July 1986.
The Rosia Montana properties were transferred from the communist-governed state of Romania around its destruction in 1989 to a company controlled by Frank Timis, who brought his titles to Toronto, which was once the world's mining finance centre. Timis then bought an idle publicly listed Yukon company and renamed it Gabriel Resources, and into Gabriel transferred his titles.
Gabriel Resources was listed on the Toronto Stock Exchange in year 2000.
At some point in 2005, Vanessa Redgrave called Gabriel "a modern-day vampire".
In November 2009, the Beny Steinmetz Group (BSG) invested US$64.4 million in Gabriel, for 9% of the shares.
In June 2010, the BSG increased its investment in Gabriel by C$100 million.
In 2013, its rating was suspended by Scotia Capital.
In fall 2013, the Romanian government proposed to give Gabriel the right to expropriate land; this triggered mass protests and influenced the 2014 Romanian presidential election.
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In January 2015, Newmont was listed as a substantial shareowner in Gabriel, which had at the time a market capitalisation of C$250 million.
In June 2017, the company sued the government of Romania for $4.4 billion at the World Bank Tribunal, due to delays in the Rosia Montana project. Gabriel claimed that there were several breaches of international investment treaties.
The company was delisted from the Toronto Stock Exchange in January 2018, and re-listed on the TSX-Venture.
In June 2018, Jonathan Henry departed the CEO position which had held for eight years.
On March 8, 2024, Gabriel Resources lost a damage claim against Romania for the failed gold mine project. An arbitration panel of the International Centre for Settlement of Investment Disputes rejected Gabriel's claim for damages resulting from Roșia Montană being blocked by the Romanian government, and instead awarded Romania US$10 million in legal fees and expenses.
From Wikipedia’s article on Gabriel Resources, shared under CC BY-SA 4.0.3