http://communities.canada.com/nationalpost/blogs/tradingdesk/archive/2007/05 /16/gabriel-resources-project-in-doubt-as-political-changes-in-romain.aspx
Gabriel Resources project in doubt as political changes in Romania could help or hurt Political reshuffling in any country can have an impact on a wide range of industries, but recent changes in Romania could hamper the work of one Canadian-based miner there. Gabriel Resources Ltd. ( <http://stockgroup.canada.com/sn_overview.asp?symbol=T.GBU> GBU/TSX), which has been waiting for environmental approval for its 80% owned Rosia Montana gold project, appears to have suffered a set back as Romanias newly appointed cabinet now has a fresh Minister of Environment and Sunstainable Development. Attila Korodi has criticized Gabriels Rosia Montana project in the past, according to Dundee Securities analyst Paul Burchell, who added that the new minister reportedly called it a priority to investors, but not to Romania. The project also faces opposition from non-governmental organizations and other environmental groups. While the country is not expected to go to the polls until 2008, Mr. Burchell thinks the growing turmoil could lead to an earlier election call. This could result in a delay for Gabriels attempt to get project permits and politicians could even take on the issue of mining in their campaigns, he added. However, an election could lead to a new cabinet and accompanying environment minister, which could be just what Gabriel needs, Mr. Burchell said in a note to clients. He has lowered his rating on Gabriel shares to market underperform from neutral and his price target moves down 80¢ to $4. Jonathan Ratner <mailto:[EMAIL PROTECTED]> [EMAIL PROTECTED] © 2007 CanWest Interactive ---------------------------- Vali "Noble blood is an accident of fortune; noble actions are the chief mark of greatness." (Carlo Goldoni) "When the power of love overcomes the love of power, the world will know peace." (Jimi Hendrix)
