Thanks for posting LarryGo.
This is a head scratcher. OREA, I assume have not received their permit renewals for Maripa from the French gov’. This is the case with most of the other FG mining permits.
In fact, this whole Montagne d’Or issue suggests that gold exploration is over in FG if this mine has basically been denied (NG have been moving on since the June 2020 legal action was first initiated) and the other FG exploration permits are in limbo (I believe 2 Reunion permits are the exception). Macron is now clearly subservient to the environmental lobby and the COP26 deforestation agreement. He has no intention of crossing such ‘forces’ with April 2022 election approaching.
I note that all this OREA Maripa information is couched in terms of 'preparation for' later drilling so how much cost that involves is unknown. However, both the Suriname and now Maripa releases appear to be OREA showing the market it still has life in it.
Bottomline for OREA investors is what happens to OREA’s 45% of Montagne d’Or? My druthers are that they sell (if legally able to do so) to NG to include in their France - Russian 1989 treaty legal action. I believe that France will settle out of court (maybe in short order) with NG, who seem to have a lot of documented support for both their damages claim in terms of an updated BFS, and Macron’s own misleading mine support history, based on his 2019 comments. He has cost both CGT/OREA and NG probably in the region of US$100 mill in sunken costs. Remember, France settled years ago with IamG over their FG Camp Caiman gold project out of court and that project had nothing like the factors supporting its value that Montagne d'Or and NG have.
I have suggested ways/numbers regarding such an OREA to NG move in other posts. However, failure to do this will, IMO, leave OREA exposed to years of cost prohibitive legal action with potentially just pennies per share in any arbitration eventual return.
Orea Commences Preparation for a Drill Program on the Maripa Gold Project in French Guiana https://finance.yahoo.com/news/orea-commences-preparation-drill-program-123000606.html VANCOUVER, BC, Dec. 8, 2021 /CNW/ -
Orea Mining Corp. ("Orea") (TSX: OREA) (OTCQX: OREAF) (FSE: 3CG) is pleased to announce that it has commenced preparation for a diamond drilling program at the Maripa Gold Project ("Maripa"), located in eastern French Guiana, France. Orea has an option to acquire up to a 70% interest in Maripa…
GLTA - https://twitter.com/EarthsRare