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Big world billionaires, shareholders at Gabriel Resources

Behind the Canadian company Gabriel Resources, which owns over 80% of shares at Rosia Montana Gold Corporation, we can find big names of world business, such as John Paulson, Benny Steinmetz, and Thomas Kaplan, who have invested millions of dollars in the Apuseni Mountains mining project.

Gabriel Resources announced at the end of 2009 that Paulson & Co and Electrum Strategic Holdings owned 18% of shares each, followed by Newmont Mining Corp (USA), one of the biggest gold producers in the world and BGS Capital Markets, part of Benny Steinmetz Group (BGS) with 9% of shares.

BGS can double the number of shares held by using at the end of the year an option which would ensure Steinmetz 16% of shares at Gabriel Resources, reducing at the same time the participations of Paulson & Co, Electrum and Newmont at 17%, 17% and 14%.Paulson & Co is the hedging fund of the well known American billionaire John Paulson and Electrum is part of the group of companies controlled by Thomas Kaplan, an important investor in gold projects.

Practically, all known shareholders of Gabriel are big gold investors and made money with this kind of business.

Gabriel Resources was funded in 1997 by the Romanian born businessman Frank Timis, who withdrew in 2003 to handle other businesses.Timis in involved in business with the natural resource industry and the company which produces it, African Minerals, exploits one of the biggest iron ore resources in Africa together with Chinese investors. African Minerals has recently sold a Chinese company 25% of shares of the respective projects for 1.5 bullion dollars.

Gabriel Resources mentioned at the end of 2009 that it had invested over 350 million dollars for the development of Rosia Montana project. The company shows in the latest financial report that it had liquidities of 176.4 million dollars at the end of June.

The Canadian company owns 80.23% of shares at Rosia Montana Gold Corporation, the rest of shares belonging to the Romanian state.Rosia Montana has reserves of over 300 tons of gold and 1,600 tons of silver. (Source: Mediafax.ro)

Sursa: http://www.actmedia.eu

Tags: gabriel resources paulson shares company world

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