|Updated: August 31,2004|
Rosia Montana gold project gets cash inflow. With Newmont Mining's purchase of 10% of Gabriel Resources (owners of Rosia Montana Gold Project), for a reported $19,000,000 USD, Gabriel can breathe some new life into their stalled Rosia Montana gold project, which could become the largest gold mine in Europe, providing good paying jobs for Romanians, and adding hundreds of million dollars to their economy.
If the Romanians think that the mine will have detrimental effects on their lives, they should visit some of the robust mining areas in Nevada (USA), along the Carlin Trend, where the largest US gold producers operate. These towns were not even on the map before the gold boom hit, and now they are thriving towns with good schools, housing, businesses of all types, and providing high quality of life for those residing in the area.
I have been following this project since it's inception, partially because a gold mine in Europe was very unusual, and partially because of the concerted, well funded and illicit left wing efforts to halt the project. I believe that the people of Romania, like the people of Nevada, will see through the alarmist half truth's and lies spread by the European Green movement, and realize that the benefits of the Rosia Montana Gold Project are great, and the downside is negligible. Then, they can begin to enjoy the benefits of another large industry operating in their country, and the tremendous financial benefits provided to the community and the government, which will result in a improved quality of life for all involved.
| But that's just my opinion.
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