Orea Mining Corp OREAF

Metals & Mining Gold

Orea Mining Corp. is a Canada-based gold exploration and development company. The Company’s principal business activities are the acquisition, exploration and development of resource properties. In French Guiana, Orea holds a major interest in the world-class Montagne d’Or mine development project. The Montagne d’Or project is situated in western French Guiana and is comprised of over two mining concessions and over two exclusive exploration permits, covering an area of around 93.5 square kilometers (km2) and is accessible in all season forest road from the town of Saint-Laurent-du-Maroni, for approximately 120 kilometers (kms). It also owns 70% interest in Maripa, which is situated in French Guiana, France. The Antino project is engaged in gold exploration, which is situated in mining friendly Suriname, South America, approximately 275 kms southeast of the capital Paramaribo. The project consists of Rights to Exploitation of Gold (Suriname mining titles) covering across 200 km2.

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Orea Mining Corp

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Post by 123buyholdhopeon Feb 14, 2024 1:23pm

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Post# 35880149

OREA Gone!

Very disappointing. Appears the board did not even consider going after France via the CofArb utilizing international funders. As I outlined in previous posts there appeared to be a strong case for the actions of Macron as both a minister and then President in misleading OREA (and NG) via his aords and visits through the last decade, causing much money to be spent leading up to both a BFS and then a new mine design and ESIA reports produced. We are talking tens of millions spent not even to include the destruction of shareholder value from 2015 –through 2019 and on today. Yes, never a guarantee of mine permitting, but misleading an entity then ending with a political expedient switch in support at an election I think was worth a run legally and it would have cost OREA nothing.

As I said I don’t blame management for the situation they found themselves in but as to this easy/weak decision, they are fully responsible for.

Best of luck to OREA shareholders, another speculation that did not come off, but remember the management involved here for future reference.

GLTA - https://twitter.com/EarthsRare

Orea Announces Resignations and Wind-Up

Wed, February 14, 2024 at 10:23 AM EST

In this article:

Vancouver, British Columbia--(Newsfile Corp. - February 14, 2024) - Orea Mining Corp. (TSX: OREA) (OTCQB: OREAF) (FSE: 3CG) ("Orea" or the "Company") is providing an update to its default status report last filed on January 30, 2023. The Company reports that it has exhausted all possible options to move the Company and the Montagne d'Or gold project forward due to the extenuating circumstances resulting from international sanctions imposed against its joint venture partner Nord Gold plc ("Nordgold").

Nordgold is solely responsible under the terms of the joint venture to fund all project expenditures, with Orea being fully carried. Nordgold has not provided funding in nearly 2 years since the Russian invasion of the Ukraine, and under sanctions regulations, Orea is also restricted from directly funding Montagne d'Or expenditures. Orea's proposal to acquire Nordgold's 55.01% interest in Montagne d'Or received approvals or non-objections from all applicable jurisdictions but was not approved by the Canadian government. Orea's situation has become untenable with no viable legal path for Orea to advance the Montagne d'Or project in the absence of Canadian government approval.

Effective immediately, all officers including the CEO, CFO and Corporate Secretary have resigned, and all directors have also resigned from the board. Prior to its resignation, the Board appointed Danielle Sweeting as an authorized signatory. Mrs. Sweeting will be identifying suitable professionals and advisors to proceed, if applicable, with the orderly wind-up of the Company. Mrs. Sweeting is a long-time employee, familiar with all of the Company's systems and records.

Further, the Company advises that it will not be filing its audited annual financial statements and corresponding management's discussion and analysis, and the Annual Information Form (AIF) for the year ended September 30, 2023, including the CEO and CFO certifications that were due to be filed by the required regulatory filing deadline of December 29, 2023.

Danielle Sweeting
Authorized Signatory
Orea Mining Corp.