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Gabriel Slumps After Prime Minister Urges Vote Against Gold Mine

Sept. 9 (Bloomberg) -- Gabriel Resources Ltd. plunged the most in 19 years after Romanian Prime Minister Victor Ponta urged lawmakers to vote to reject plans for the company’s proposed Rosia Montana gold mine.

Parliament should “quickly vote” on whether to drop the project as opposition appears insurmountable, Ponta said today.

Shares of the Whitehorse, Yukon-based company fell 43 percent to C$0.84 at 9:42 a.m. in Toronto, after earlier declining as much as 48 percent, the most intraday since March 1994.

To contact the reporters on this story: Liezel Hill in Toronto at lhill30@bloomberg.net; Irina Savu in Bucharest at isavu@bloomberg.net

To contact the editor responsible for this story: Simon Casey at scasey4@bloomberg.net

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