RE:NordGold's French action newsDid not access the article as its in the pay for section.
My view, don’t pay the so-called buzz much attention. Nordgold has its own legal team and won’t be bringing in any outside funders or French legal wizards. Nor will the French Gov who have their own reps.
As to any ‘lively interest’ in Paris– why? Only 3 arbitrators usually are involved in C of Arb process and maybe not at all in this French Court action.
Then, only Nordgold has access to the 1989 Russo France Investment Treaty; the rest of the possible gold legal process seekers in FG like Auplata don’t. They most likely will have to go via the C or Arb which is beholding to nations who support it (e.g., France) and they will feel the environmental ‘push’ to acknowledge the apparent Rainforest abuse of Montagne d’Or (remember Macron really got animated when he saw the UN racial discrimnation Dept got involved in the NGO call to ban Montange d'Or).
Nobody is going to rush to the C of Arb and most explorers/majors likely will walk away from legal action. Maybe, this will also be in the hope that someone more mining friendly will defeat Macron in the election in April 2022 (unlikely) and breath some life into the now dead FG gold exploration sector.
Obviously, it is crickets out there from Nordgold and OREA. But IMHO, something is going on. For OREA to sit and do nothing is tantamount to shareholder abuse. However, no unaffiliated party is going to buy OREA’s 45%. Therefore, may be OREA is looking to work together with NG in the investment lawsuit? Or, maybe OREA is looking to counter sue NG for not having informed/negotiated with them before destroying OREA’s US$ 3.4 bill asset (equivalent damages claim as NG = approx.., US$360 mill)?
OREA needs either to be an ‘asset’ to NG in their legal process pursuit or they need to be the biggest pain in the …? they can be for the Russians, as they pursue their US$ 500 mill damages. Remember, OREA claim they were blindsided by NG’s move, so the gloves had better be off now - way off!
GLTA -
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