GREY:OREAF - Post by User
Comment by
123buyholdhopeon Jun 18, 2022 12:15pm
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Post# 34766753
RE:OREA
RE:OREALets hope we can stop guessing in the near future. From the recent release on the private placement.
The proceeds from the First Tranche will be used primarily to fund an action plan, that Orea management and its advisors have initiated, in response to the sanctions imposed by the United States on Nord Gold plc ("Nordgold"), Orea's joint-venture partner (see press release of June 7, 2022).
The placement is for primarily funding an OREA plan that has 1. apparently already been initiated 2. involves OREA 'advisors' (I am assuming legal) 3. is a direct response to the sanctions imposed by the US. These sanctions are imposed on Nordgold (and Mordashov and his family).
If this is a legal challenge it will be fascinating to watch how OREA's legal team tries to hold this Russian private company (family) responsible for the sanctioning actions of the US and how these have impacted OREA and Montagne d'Or?.
In fact, trying to get control of Montagne d'Or would presently seem pointless with the French 'no' to the mine which is, again, IMHO, unlikely to change under Marcron, etc. However, proving that OREA/shareholders have been financially hurt by NG's June 2020 self serving pursuit of a Montagne d'Or damages claim against France, may be a life line (around US$0.20 cents in Sept 2021 when OREA and the market learned of NG action; now today US$0.04).
We will see.
GLTA - https://twitter.com/EarthsRare