RE:RE:Latest OREA release - Oh Boy!Yes, BK certainly a possibility.
However, to give up on an arbitration case that seems to have some serious grounded documentation to support its initiation would, IMHO, be a cop out by the remaining OREA management and CEO Guistra has two decades in this project well back into CGT era.
Here's the documentation focus -
d'Or pit set in an official mining zoned area designated by France back in the 2010s.
Physical visitation by Macon to the actual site as a French minister along with documented commentary (including later as Pres) on the value of the mine to FG upto 2019.
Demand by French to give FG citizens the opportunity for discussion and commentary on the proposed mine. The d'Or partnership did this with NG then taking the major concerns about such a project directly into consideration when they revamped the design of the mine to meet these concerns (going with some solar power, new waste pit design, reducing entire footprint of the originally proposed mine, etc).
All mine design and ESIA reports readied for submission pre 2019.
Gov' support encouraged CGT to then NG/OREA to spend I beleive in the region of at least US$60 plus mills to prepare to explore and design a mine.
THEN - Politcal expedient switcherro by Macro. A move towards the environmental voting/lobby groups for then upcoming election.
No mine! Not because of the mine design itself (the new mine design as far as I am aware along with ESIA reports were never submitted for formal review - French tied that down by putting the FG mininig process into the court system via the exloration license debacle, which effectively killed all mine exploration in FG, pre French election). Rather, an environmet focus was used which even Macron in a eelction speach admitted would up set some after his last decade's project support.
This one event has decimated the company value including for many holders over the last 5 years.
Does France have the right to say NO to this mine? Yes, of course they do; no mine permit is ever guaranteed.
However, did France/Macron via documented moves have the right to lead on CGT, OREA and NG since around 2010 interms of pursuing costly mine exploration and ESIA report and mine design; then swtich on a dime (Macron clearly had a personal/political conflict of interests here beyond any national environmental claims) not even using the mine design and environemental reports to detail the reasons for his NO? In fact, has anyone seen a report from France on how the new mine design as it stood led to such claimed Rainforest destruction? I doubt it.
Hence, my hope that OREA will put this all in the hands of a major international arb' funder (also they will likely pay any audtior costs now for agreement to pay 20-33% commission on any award plus all legal costs). Then let France/funders battle it out (I think there's a good chance France will settle outside of court. Macron owes his bud Trudeau for CAD's inexplicable halt on OREA moves with which saved France having the ball put back in their court.
As to those who think Macro will change his mind or allow others to buy/mine in FG here's a quote below from an article today.
Hope this helps explain my rationale for such an OREA approach. Lot more that could have been said.
The bigger picture: The case for an EU-Mercosur free trade deal
All looked set for 7 December 2023: after nearly a quarter of a century of negotiations, the European Union and the four members of the Mercosur customs union – Argentina, Brazil, Paraguay, and Uruguay – were due to sign a free trade agreement in Rio de Janeiro. Yet as several times before, all did not go according to plan for the seemingly doomed deal. A few days before the Rio summit, French president Emmanuel Macron declared that the deal did not offer enough environmental guarantees, dashing hopes that the agreement would be inked. GLTA - https://twitter.com/EarthsRare