Orea Mining Corp OREAF

Metals & Mining Gold

Orea Mining Corp. is a Canada-based gold exploration and development company. The Company’s principal business activities are the acquisition, exploration and development of resource properties. In French Guiana, Orea holds a major interest in the world-class Montagne d’Or mine development project. The Montagne d’Or project is situated in western French Guiana and is comprised of over two mining concessions and over two exclusive exploration permits, covering an area of around 93.5 square kilometers (km2) and is accessible in all season forest road from the town of Saint-Laurent-du-Maroni, for approximately 120 kilometers (kms). It also owns 70% interest in Maripa, which is situated in French Guiana, France. The Antino project is engaged in gold exploration, which is situated in mining friendly Suriname, South America, approximately 275 kms southeast of the capital Paramaribo. The project consists of Rights to Exploitation of Gold (Suriname mining titles) covering across 200 km2.

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Orea Mining Corp > Confirming News Story, Court Win

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Comment by 123buyholdhopeon Jan 06, 2022 9:24am

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Post# 34288526

RE:Confirming News Story, Court Win

Thanks for posting the information GEO -

Unfortunately, whoever wrote the article forgot to focus on two issues.

1. that the French gov' (not NGO) has appealed the renewal of the Montagne d'Or permit to the Supreme Court of France late Sept 2021 (see OREA quote in my last post). This is the present legal standing in the French courts.

2. That Nordgold apparently isn't any longer interested in building out this mine over the next 3-4 years (baring more legal opposition in courts) costing them US$ 3-400 million, then taking 12 - 15 years to collect on.

NG want their damages now and they are likely to get them. They are coming back public after this FG mess and want a major cash on hand award to publically boost their bank account, while they already have other potential mines on the go.

Notice that the 'notice of intent' to pursue legal action is Sept 2020. They never had any intention of submitting the finished ESIA reports etc in 2021 but wanted everything in order re., valuation claims for this legal action.

You got to love those Russians in business even if they may have screwed OREA (oh, and me).

Severgroup and K.N. Holding v. France

Severgroup LLC and K.N. Holding OOO v. French Republic