Yah think that politics is at play here in FG? Or again, is it just about those exploration concessions out there that now need renewal?
So, lets list for all out there what the French and Macron have done to FG gold exploration in the last year, and in no particular order:
Now Auplata! A win for environmental groups? 2019 French wlecomed the factory with open arms. Now refused to renew all the mining concessions in FG (I think Reunion maybe the exception?). Now challenged Montagne d’Or concessions to the Supreme Court. Now stated as an argument that Montagne D’Or as presented is not compatible with French environmental aspirations. Now Refusing to bring out formally a new French Mining code. Macron is playing games and using the French court system to assist his endeavor to avoid having any FG gold exploration issues brought to his ‘front door’, until after his April 2022 election.
You don’t think that Nordgold isn’t now very aware of this political game? Ok, so let’s bring that mine to submission now and risk Macron killing it to win over the powerful French environmental lobby. Or, Dpoes NG 'play ball' and avoid rocking the FG environmental boat? Do you think Macron is more worried about FG jobs or his reelection? where are the mass of votes?
Oh, by the way the French have used the claim that Montage d’Or as presented does not comply with their environmental intentions. Hello – that mine design was 2017 before the FG public discussions were held. Since then, NG has redesigned the new mine to meet all the main issues raised by the public discourse, as well as making it the most ESG compliant designed gold mine to date! But then, again, the French gov' wont' let them present those documents which would force out Macron's stance on FG exploration concessions, the new mining code and Montagne d'Or existance.
By the way how do you use a new mining code to hold miners responsible for ESG compliance when said code it does not even exist on paper in the public domain?
Long term investors get the popcorn out and sit back and watch FG re., its gold exploration future. IMHO, there are two avenues here, either the French eventually back Montagne 'd'Or and possibly future FG gold exploration, or Macron kills the most advanced gold mine design and watches Newmont, Barrick, NG, and IAmG flee FG, leaving its economy to increasing decline and seriously increased illegal mining.
PS. don’t think that somehow the World Court of Arbitration is a way out for miners should FG gold go belly up. That is unless as an investor you have years to wait and want pennies on the dollar back, if you are lucky. So buy or sell your 'tickets' and take a stance.
In Guyana, Auplata forced to stop its gold production at the Dieu Merci factory https://www.usinenouvelle.com/article/en-guyane-auplata-contraint-d-arreter-sa-production-d-or.N1148357 This is another setback for the industrial mine in Guyana. On September 30, the administrative court of Cayenne (Guyana) annulled the prefectural decree of November 2015 which authorized the Auplata group to operate its leaching plant on the Dieu Merci site, in the town of Saint-Elie...
GLTA -
https://twitter.com/EarthsRare