RE:$$ ;There a really 4 majors presently involved in FG, Newmont, Barrick, NG and IAMG. Then you have OREA and Reunion (plus a few smaller private). Basically, the site permits for all these public entities except Montagne d’Or were all up together and the French gov did not immediately renew. I wonder why (new mining code arriving; Montagne d’Or mine permitting, French elections)?
OREA, I believe went to court to make sure that they were still recognized as the rightful holders of Montagne d’OR site (losing an exploration license is one thing, losing an entire potential gold mine!). The French court ruled in OREA’s favor and hence the continuing legal issue.
(To the person who asked me about why I said the court challenge should be known by the end of Sept’? It’s because a court date stated (2 months) is often not to the day, especially when you want to hear the actual decision announced. So, IMO, we will know by the end of Sept (again as often occurs I may be wrong). Courts work to their own interpretations of dates/periods set.
Further, people keep asking why would France delay these permits? Worse why would they not simply award NG/OREA the mine permit? IMHO, it about politics. Don’t think that jobs for 1000s, taxes in the millions, etc for FG will over come Macron’s desire to be reelected. When they tell you its not about politics, then its all about politics.
France is the bastion of the environmental movement and you are staring at a potential huge gold mine slap bang in the middle of the Rainforest. Think about it, if as the French gov’ you could delay making decisions on these licenses and Montagne d’Or, then what would you do with an April 2022 election approaching? This is why the French potential appeal is so interesting and whether it actually materializes or not.
I have posted earlier about my perceptions of NG's reaction/ pathways after a further French gov’ legal challenge (or none). I appear to be one of the few longs here and that is fine, it takes all opinions and aims to make a market. Again, as I have said before I think both traders and longs can make money from this stock. However, the sp numbers I see being speculated are clearly short term. IMO, they are way too low based on the catalysts for 2022 I posted earlier.
NG is obviously the potential cat amongst the pigeons. I know the OREA management is well aware of their ‘partners’ past gold history. Even if the worst comes to the worst and NG says French politics be damned, we bid as soon as the reports/apps are submitted, then this is likely to be one of the most interesting takeover struggles we have seen in recent gold history.
GLTA -
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