GREY:OREAF - Post by User
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123buyholdhopeon Jun 29, 2022 12:18pm
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Post# 34790757
RE:RE:OREA - Now Nordgold CEO steps down
RE:RE:OREA - Now Nordgold CEO steps down I hope the future gold price influences OREA sp, but I fear it has done little for the CAD company over the last couple of years and nothing for long term holders..
So, we await the news from OREA as to their next step in dealing with the NG – Montagne d’Or issue. Sounds like based on their latest release that OREA will go after NG. Maybe, potentially via the French Court rather than the Court of Arbitration.
The CofA would likely take years as NG would fight/delay the case and then may get a simple ‘sunken costs’ award against. This would be peanuts to NG which OREA would then still have to chase to get paid (several more years) as well as negotiating down the final settlement.
However, it is possible that pursuing via the French Court OREA may get an expedited ruling in their favor. NG would get the right to fight in the court but this would have nothing to do with Mordashov sanctions – purely NG’s business behavior.
What if OREA asked for the all the concession permits to Montagne d’Or? These as compensation for failure by NG to show any ‘consideration’ (you put in the legal terms) for their JV since June 2020, as well as clear shareholder stock destruction over that period?
The French court would rule on this as entirely a legal and shareholder issue. This would ensure it had have nothing to do with Ukraine, Russia and Oligarch asset confiscation; all potential future legal issues that likely will come with this type of asset seizure.
Admittedly, OREA would have a nod and a wink from the Macron/gov’ as they have already refused the mine permit for environmental reasons – period! But they have not as yet had a ruling on the concession permits renewal, which the gov' has now challenged via the FSC. It would be easy to drop opposition to OREA’s permits in return for buying the entire concession legally awarded to OREA for a handsome price. Again, a win - win for France and OREA via a more legally sound court approach, rather than Russian asset confiscation.
Hopefully some out there find this a little interesting though apparently others get headaches - apologies.
GLTA - https://twitter.com/EarthsRare