Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Founders Metals Inc V.FDR

Alternate Symbol(s):  FDMIF

Founders Metals Inc. is a Canada-based exploration company focused on advancing the Antino Gold Project located in Suriname, South America, in the heart of the Guiana Shield. The fully permitted Antino Gold project covers over 20,000 hectares (ha) with historical production of over half a million ounces of gold. The Antino Gold Project is a resource definition stage gold exploration project located in southeastern Suriname, within the Guiana Shield Gold Belt. The project is approximately 275 kilometers (km) from the capital city of Paramaribo and is accessible by air to the Antino Camp airstrip or by barge along the Maroni/Lawa River bordering French Guiana. The Project covers a significant area of alluvial and small-scale saprolite open pit gold mining with approximately 500,000 ounces (oz).


TSXV:FDR - Post by User

Comment by arctanon Sep 05, 2023 11:12am
85 Views
Post# 35619858

RE:Why did Orea let this land package go?

RE:Why did Orea let this land package go? Orea has had its own complicated problems since early last year, because its flagship Montagne d'Or deposit in French Guiana was a 55-45 JV partnership with Nordgold, a Russian gold mining company. As you can imagine, since the Russia-Ukraine war began in early 2022, sanctions on Russian companies by the French, US, and Canadian governments have naturally created major problems for Orea's joint work on the project with Nordgold. Under the circumstances, it is not a simple matter either to continue as a JV, sell their share in the project, or buy out Nordgold's share. Orea has been trying to do the latter, buy out Nordgold's share of the project, since last year, but as you can imagine that plan has also run into repeated roadblocks and delays with multiple governments. These are the circumstances under which Orea agreed to sell its stake in Antino to Founders late last year. It was bad fortune for Orea but good fortune for Founders. To be fair, Orea probably did not have a lot of good options in their situation since last year. They must feel their stake in Montagne d'Or is drastically undervalued due to the unfortunate situation with the Russian JV, and they didn't want to sell it for pennies on the dollar. But that meant they had to raise cash from somewhere, and Antino was the other asset they were able to sell.
<< Previous
Bullboard Posts
Next >>