expenditure

Gabriel Resources, the majority stakeholder in Rosia Montana Gold Corporation, reported CAD28.2 million (EUR21 million) in first semester losses, having spent CAD15.6 million (EUR11.6 million) on the development of its mining project in the Apuseni Mountains in western Romania.

Romania’s Government estimates it will save RON5.39 billion in the second half of 2010, or 1.06% of the country’s GDP, due to the recently announced 25% public sector wage cut which come into force on June 1, says a document issued by the Finance Ministry.