Gabriel Resources yesterday released their year end 2007 report. Its bad news all over: hostile government, NGO opposition, increased project costs, case against the ministry for the environment, stalled EIA process etc.

As a result of two anti-fraud investigations from the part of Romanian tax authorities who for 2007 alone charged Gabriel with having $4.8M in income tax charges, penalties and interest, Gabriel Resources yesterday announced that it refuses to pay these charges.

As a result of yesterday's Gabriel's share price has further fallen; as can be seen from www.tsx.com

You can listen to the presentation online via http://www.gabrielresources.com/investor-10.htm and also access in pdf the accompanying presentation. In the press section of www.gabrielresources.com there is a further summary of their year end results.