Gabriel Resources Ltd. 2021 Annual Results

About this update from Gabriel Resources Ltd.

[{"type":"text","content":"Gabriel Resources Ltd. 2021 Annual ResultsLONDON, UK / ACCESSWIRE / April 5, 2022 / Gabriel Resources Ltd. (TSXV:GBU)(\"Gabriel\" or the \"Company\") announces the publication of its Annual Results and Management's Discussion and Analysis Report for the year ended December 31, 2021.SummaryGabriel remains focused on concluding its arbitration case against the Romanian State under the rules of the International Centre for Settlement of Investment Disputes (\"ICSID\"), part of the World Bank (\"ICSID Arbitration\"). The ICSID Arbitration case is well advanced.Following the submission by the parties of post-hearing written submissions in April 2021 which comment in conclusion on the evidentiary record (\"Post-Hearing Briefs\") and further supplemental written pleadings in the final quarter of 2021 in relation to the UNESCO Inscription (defined below), the parties await guidance from the arbitral tribunal (\"Tribunal\") on whether any further procedural stages will be required prior to issuance of an arbitral award (\"Award\").In late December 2021, the President of the Tribunal stated that the Tribunal was deliberating and would render an Award in 2022.In January 2022, the Tribunal confirmed that, in due course, it would revert to the parties about the possibility and timing of any further questions for the Parties to respond to and/or any additional oral hearing.Notwithstanding the Tribunal's statement that it would render an Award in 2022, there is no specified timeframe in the ICSID Rules applicable to this case in which an Award is to be made by the Tribunal.In November 2021, an agreement was concluded for the sale of the remaining mining equipment owned by the Gabriel group (\"Group\") for US$1.75 million (approx. $2.2 million). A non-refundable deposit and two instalments totaling US$0.625 million were received prior to December 31, 2021 with further instalments due until September 2022.The net loss for the fourth quarter of 2021 was $2.2 million (Q3 2021 $3.0 million) and for the year ended December 31, 2021 was $19.9 million, or $0.02 per share (2020 loss of $34.7 million, or $0.06 per share).As at December 31, 2021, the Company held $3.3 million of cash and cash equivalents (Q3 2021 $4.7 million).In February 2022, an agreement was concluded for the sale of certain land and buildings owned by the Group in Alba Iulia, Romania...

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