Good news for these miners

Article Excerpt

GABRIEL RESOURCES $4.93 (Toronto symbol GBU; SI Rating: Speculative) (416-955-9200; www.gabrielresources.com; Shares outstanding: 341.0 million; Market cap: $1.7 billion; No dividends paid) and EUROPEAN GOLDFIELDS $7.13 (Toronto symbol EGU; SI Rating: Speculative) (44 (20) 7408 9534; www.egoldfields.com; Shares outstanding: 182.4 million; Market cap: $1.3 billion; No dividends paid) have both received good news about their development projects in Romania. Both projects would use cyanide in the mining process. The European Commissioner for the Environment said that the European Commission sees no environmental or health justification for a general ban of cyanide in mining activities. Gabriel is aiming to develop its 80%-owned Rosia Montana gold project in Romania. However, despite the good news, Rosia Montana still faces considerable environmental and political opposition. European Goldfields has received preliminary approval to start developing its 80%-owned Certej gold/silver project in Romania. Gabriel Resources is now a buy. European Goldfields is still a buy. buy…