Gabriel Resources' original sin

The fate of Gabriel Resources' Rosia Montana will be settled in early November when the parliament votes to accept or reject the recommendation of a 21-person commission.

The company's share price is telling us to expect rejection, but it didn't have to come to this, argues Eric Reguly in the Globe and Mail.

Gabriel's original sin was that it went too big, too fast, using an uncompromising approach to make "a lot of money quickly."

This "bigfoot approach" included plans to blow up two mountainsides in order to build four pits, fill a valley with "waste-rock and cyanide-laced sludge" and force 2,000 people from their homes.

Instead of starting small, working to gain "the confidence and trust of the residents" as the project developed, "all [Gabriel] saw was the dollars," according to Stephen Roman, a mining promoter who was a part of the Gabriel team during the early years. 

Rosia Montana (Credit:

Read Reguly's article in full here.