Orea Mining Corp OREAF

OREA Montagne d'Or update

[123buyholdhope]

 
Reunion just had its exploration permits in FG renewed by French authorities; the first of several companies in FG waiting for their permits to be renewed. French gov’ is clearly concerned with keeping a hold on the renewal of Montagne d’Or permits.
 
Exploring in FG is one thing, actually building a major mine is another and making decisions about such a project is easier if the holding companies no longer hold the licenses. By the way, if the Montagne d’OR is stopped then, IMHO, watch the other explorers (permitted or not) leave FG pronto, and illegal mining see a major increase.  

However, we should know more about the Montagne pemit issue around July 16, 2021.
 
Orea Provides Update on the Renewal Status of the Montagne d'Or Mining Concessions
 
VANCOUVER, BC, July 7, 2021 /PRNewswire/ - Orea Mining Corp. ("Orea") (TSX: OREA) (OTCQX: OREAF) (FRA: 3CG) on February 11, 2021, Orea reported that the French Government filed an appeal with the Administrative Court of Appeal of Bordeaux, to set aside the French Court of Cayenne rulings of December 24, 2020, which ordered the renewal, within six months, of the Montagne d'Or mining concessions (owned 44.99% by Orea and 55.01% by Nord Gold SE [the "JV"]). In addition, the French government also filed a request for a stay of execution to temporarily suspend the execution of the French Court rulings of December 24, 2020.

The parties presented their pleadings before the Administrative Court of Appeal in Bordeaux, France yesterday July 6, 2021. Rulings by the Administrative Court of Appeal of Bordeaux are expected on or about July 16, 2021.

Orea remains of the opinion that the JV is entitled to the renewal of the Montagne d'Or concessions.

GLTA
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