RE:RE:RE:Maripa drilling this month, results by March or earlierPT thanks for the response. My answers are meant purely for thought challenging only. I respect those who think both long and short term (though obviously I am biased)
27 million shares traded this holiday week, taking the price from .09 to.16. Good old momentum and herd mentality; again, nothing wrong with this from a trading perspective.
OREA obviously thinks Maripa warrants a few drilling dollars and has the cash to pay for the program while we wait on Montagne d'Or which is driven by Nordgold. Then why not a definitive statement of drilling $ amount for this new drill campaign to give the market confidence in the FG exploration permit outcome? Or, is it counter noise?
Iamgold holds 30% of Maripa. Yes, and interestingly, they were not prepared to do anymore drilling in this project after their FG Camp Caiman gold project was like Montagne d’Or stopped in its tracks, by the French (they got a confidential settlement).
I keep looking at all the gold mines in West African countries with a significant French influence. Makes sense for a few in French Guiana. Not in today’s CC driven environment which is very much S. American focused. Macron and France is the home of the environmentalists and Macron just signed the new Glasgow COP26 deforestation agreement. France is in contention with Bolsonaro of Brazil over his deforestation of the Amazon Rainforest so do we think that Macron is going to do the same in FG?
The French Courts have not said no and very soon Macron will run out of Courts to appeal his loss. Did I see a 10,000 Euro per day penalty in the last ruling? Remember the bottom line is despite us talking about the exploration renewal permits in French Guiana, in the long run they really don’t matter. The French gov’ can turn down the submitted NG proposals for the actual Montagne d’Or mine and that is it!
Do we wonder why despite there being ready for months the ESIA, etc., was never submitted by NG to the French? Had they done this it would have given the French 2022 to come to an answer. Then this would probably have included more revisions and possible local dialogue before later permit denial.
The Russians are not fools. Then NG and OREA would have to have gone through all the court procedures for years to challenge. This is why NG have immediately gone the 1989 R-F Treaty path (it has no environment denial provisions). They know Montagne d’Or is dead. So, NG aren’t asking for the mine to be permitted (it won’t happen), they simply want their damages now!
OREA had better pray they can link in some way with the present NG moves. They are staring, IMHO, at the abyss and I say that as a long term holder.
GLTA -
https://twitter.com/EarthsRare