GREY:OREAF - Post by User
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123buyholdhopeon Dec 08, 2020 11:21am
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OREA - Court Decision
OREA - Court DecisionDid the sp repsond to this today? Will the other exploration concession holders in FG go to court to protect their projects? Will the French come to a long overdue decsion re. all FG gold exploration licences now? At least and at last some positve news for OREA and the FG mine pursuit. How would the ESIA reports submission by NG to France be received by the market and heaven forbid the award of a mining permit? Long term holders can but hope.
GLTA - https://twitter.com/EarthsRare
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Orea Receives Positive Court Opinion
on Montagne d’Or Mining Concessions Vancouver, BC, Canada, December 8, 2020, Orea Mining Corp. (“Orea”) (OREA: TSX) (OREAF: OTCQX) (3CG: FRA) is very pleased to report on a positive opinion by a reporting judge announcing that the French government’s deemed non-renewal of the Montagne d’Or mining concession is not valid. A final ruling is expected by the Administrative Court of Cayenne, French Guiana, on December 24, 2020. “Although the announcement is preliminary, court decisions generally tend to follow the opinion of the reporting judge” commented Rock Lefrancois, CEO of Orea. The Montagne d’Or joint-venture (owned 44.99% by Orea and 55.01% by Nord Gold SE (“Nordgold”)) (the “JV”) submitted renewal applications for a 25-year period for two core mining concessions in December 2016. In the absence of a timely decision on the renewal from the Minister of Economy in charge of mines, and in order to protect its rights, the JV filed proceedings in February and March 2019 in the Administrative Court of Cayenne in French Guiana to invalidate any implicit (deemed) refusal as a result of the French government having failed to respond within the legal deadline. The JV also requested that the Court order the Minister in charge of mines render a formal decision prolonging the concessions. In a hearing held at the Administrative Court of Cayenne on December 3, 2020, the public rapporteur (reporting judge), in charge of providing an independent and non-binding opinion on the case, recommended the cancellation of the implicit (deemed) refusal to renew the two concessions. The public rapporteur also recommended that the State issue its decision on the renewal applications within six months. The Administrative Court will render its decision on December 24, 2020. About Orea Mining Orea Mining is a leading gold exploration and development company operating in a prospective and underexplored segment of the Guiana Shield, South America. Its mission is to develop gold deposits with a reduced environmental footprint using innovative technologies, upholding the highest international standards for responsible mining. In French Guiana, Orea Mining holds a major interest in the world-class Montagne d’Or mine development project. It is also advancing the Maripa gold exploration project. For more about Orea Mining visit the company’s website at www.oreamining.com ON BEHALF OF THE BOARD: Rock Lefrancois
President & CEO | |