RE:RE:RE:RE:RE:Maripa drilling this month, results by March or earlier"With your negative bias I find it hard to believe you are a long-term holder.
Your thoughts echo those who short OREA which position nearly tripled from Dec 15 to 31st. A bet gone awry at this moment." Well, all I can say is that I have been a holder since about 2015. I have bought and sold small amounts of shares while building a larger position (CGT to OREA) over time (around 800,000). I think you can find my posts dating back a long way on this forum. I don’t short micro caps.
Nor do I indulge (usually) in 1- or 2-line posts as they do nothing to help me in my analyses. I use my posts to help me build my ongoing theses for holding a stock.
"The drill bit at Maripa and Marcon's appeal to the Supreme Court will determine the winners in this mining spec space. I like the odds of a win in both arenas, the short bet has turned to a big loss now." I think we need to nail something down here. Shareholders need to get away from the belief that somehow a French court renewing the FG exploration permits, means that they have implicitly confirmed a right to later mine these projects. Nothing could be farther from the truth. All such a legal rendition would do is allow further costly exploration and feasibility analysis by hopeful explorers.
Then, on mine application/submission the French gov’ can just deny permission based on environmental concerns (exactly what happened to montagne d'Or). While the F-R 1989 Treaty (which NG is the first entity to test in FG) is not going to apply any environmental criteria (watch this aspect of the treaty change after this case) any later court challenges (2
nd half of this decade?) from FG explorers denied a permit, are probably going to the Hague Court of Arbitration. This ‘politically aware’ body will be using Climate Change and Environmentalism in their assessment criteria. Explorers in such a situation might get sunken costs if lucky (I could go much farther with this aspect but I won’t bore people).
Nordgold press forward by footing all costs at Montagne d'Or leaving OREA opportunities at Maripa and Suriname. Again, based on the evidence we have Infront of us NG is going nowhere with Montagne d’Or. Nor is France/Macron going to change their stance on the FG Rainforest and environmentalism. Do you think that OREA after this will still explore Maripa? Suriname? Where do the millions they need to develop this come from – can you say astronomic dilution?
Your question why do I hold? Because I am still hoping that NG will somehow involve OREAs 45% in the claim and I can get out with a double! I will not be returning to FG again.
GLTA -
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