Stiri	Stiri afaceri	Stiri companii	Evenimente de afaceri

Rosia Montana Gold Corporation: We deny existence of any financial connection with any party

Rosia Montana Gold Corporation (RMGC) 'firmly' rejects any allegation concerning the existence of a direct or indirect financial connection with any political party, a company press release sent to Mediafax on Tuesday shows.

There is no financial connection of any kind or any collaboration contract, regardless of the nature of that collaboration with any political party or candidate to public positions in Romania, the press release points out.

The mentioned source adds that Gabriel Resources and companies belonging to the group observes, as a publicly listed company at Toronto stock exchange, all legal obligations and rules in force concerning the implementation of solid policies and of a drastic internal audit against corruption.

Moreover, Gabriel Resources has recently adopted a series of policies which observe UK Bribery Act, a law establishing new standards against bribery and corruption, which came into force on 1 July 2011. As for company expenses, RMGC ensures full transparency. Gabriel Resources, the main shareholder of RMGC, publishes quarterly detailed financial data, which include RMGC expenses, which are available on its website www.gabrielresources.com. In conclusion, the affirmations which appeared are mere unfounded speculations meant to bring prejudice to the company image and to Rosia Montana mining project, the press release shows.

President Traian Basescu declared on Monday that PSD leader Victor Ponta is immature and will push his party into opposition for 20 years, and rejected Ponta's accusations according to which the president protects his campaign sponsors by his position favorable to Rosia Montana.President Basescu denied having received financing from Gold Corporation, the company which will carry out Rosia Montana mining project.

Traian Basescu: I support Rosia Montana project for pragmatic reasons, not sentimental ones

President Traian Basescu in an interview to the public television station on Monday said that he supported the project of Rosia Montana for pragmatic reasons and not sentimental ones, in the context in which currencies were facing stability issues and the gold price witnessed a significant increase in the past five years.

'It is not a novelty from my point of view [the support for Rosia Montana project], but now I support it more than ever and not for sentimental reasons, but for pragmatic reasons. Take a look at what is going on with all currencies, with the reserve currencies included; the dollar and even the euro are facing stability issues and depreciation problems,' the Head of State said.

He showed that in the past five years the price of gold increased from 620 dollars per ounce to 1,890 dollars per ounce, with prospects of advancing to 2,300-2,400 dollars per ounce this year.

'I believe the uncertainty of the future forces any state that can to consolidate its gold reserves,' Basescu said.

The Head of State brought to mind that at present Romania's gold reserve stood at 103 tonnes and through mining it could reach 200 tonnes in the coming years.

'I would put all my trust in an euro of the United States of Europe, but with a euro that one often hears would collapse because of Greece, Portugal, Ireland, Italy or Spain, as a head of state I would like to put my country on the safe side and to put as much gold as possible in the reserve of the National Bank,' he explained, mentioning that mining in Rosia Montana had to begin.

Traian Basescu maintained that the renegotiation of the contract was the Government's problem, and that could bring a larger percentage to the Romanian state, which currently had a 4 percent royalty of the Rosia Montana project.

He said that he did not know in how much time mining in Rosia Montana would start, adding that this was a technical matter he was not familiar with, same as the issues related with the renegotiation of the contract, but that he knew that the Romanian state had a 4 percent royalty for the about 300 tonnes of gold and 1,600 tonnes of silver existing at the mine in question.

'I believe we should come out of the demagogy. It is a project that must be well done... It is important to start mining because we need to increase the gold reserves, on the one hand, and because we need to create new jobs, on the other hand. We must come out of the illusion that foreign investors would keep coming to create new jobs,' the President added.

Traian Basescu maintained that there also were divergent viewpoints concerning the project of Rosia Montana, when asked about the opinions voiced by presidential adviser Peter Eckstein Kovacs and MEP Monica Macovei.

'There are people with different views, but some for the sake of the ecology, some believe that this way we can put the money in the state budget to cover the deficits for pensions, unemployment, health and so on. No, we need to take this gold to the reserve of the National Bank,' the President explained.

Sursa: http://www.actmedia.eu

Tags: rosia montana president traian state would project basescu which financial corporation mining connection company party euro

Articole similare