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Hopefully this succeeds, and deblocks the court discussion positively.
Then we're golden (what it's in the name)
Orea Mining
@OreaMining
·
34s
Orea has initiated negotiations with Nordgold to Obtain 100% of the Montagne d'Or Gold Deposit. The prospect of owning 100% of Montagne d’Or is an immense opportunity for Orea and its shareholders, hence the company is prioritizing its financial resources to that objective.
Looking good!!!
Another Looser pic , just eatn up all the House $$ put on it , will this one ever learn …..lmao
Low 3’s today, how soon will 2’s come?
News Releases
Orea Closes First Tranche of Private Placement
June 17, 2022
View PDF
Vancouver, BC, Canada, June 17, 2022, Orea Mining Corp. (“Orea”) (OREA: TSX) (OREAF: OTCQX) (3CG: FSE) is pleased to announce that it has closed the first tranche of its previously announced private placement (the “First Tranche”) (see news release dated June 13, 2022), raising gross proceeds of CAD$215,000 through the issuance of 4,300,000 units of Orea (each a “Unit”) at a price of CAD$0.05 per Unit. Each Unit is comprised of one common share of Orea (a “Share”) and a full warrant. Each warrant entitles the holder, on exercise, to purchase one Share at a price of CAD$0.10 for a period of 18 months from the closing date of the First Tranche. One insider of Orea participated in the First Tranche. A total of CAD$12,000 is being paid as finders’ fees in connection with the First Tranche.
The proceeds from the First Tranche will be used primarily to fund an action plan, that Orea management and its advisors have initiated, in response to the sanctions imposed by the United States on Nord Gold plc (“Nordgold”), Orea’s joint-venture partner (see press release of June 7, 2022).
The securities offered have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.
ON BEHALF OF THE BOARD:
Rock Lefrançois
President & CEO
For more information contact:
Investor Relations
(604) 634-0970 or
1 888-818-1364
ir@oreamining.com
what are your thoughts on the sanctions coming in july, can orea pull it off?
I also have plenty but keeping a watchful eye on $OREAF
I'm already in pretty deep but might do the same.
I'll add as funds permit OREAF
delayed until August, bullish
Orea Provides Update on Appeal Status of Montagne d'Or Gold Deposit Mining Titles
Vancouver, BC, Canada, May 10, 2022, Orea Mining Corp. (“Orea”) (OREA: TSX) (OREAF: OTCQX) (3CG: FSE) reports that it was informed that the Supreme Court of France (Conseil d’Etat) has admitted the final appeal of the French Government on the renewal of the Montagne d’Or project mining titles, located in French Guiana, France, owned 44.99% by Orea and 55.01% by Nord Gold plc (the “JV”).
As announced on October 7, 2021, the French Government filed a request before the Supreme Court to hear a final appeal on the renewal of the Montagne d’Or project mining titles, which are renewable for a term of up to 25 years. Two French courts previously ruled in favor of the JV and ordered the renewal of the mining titles.
Additional updates will be provided by Orea when available.
About Montagne d’Or
Montagne d’Or is a permitting-stage open pit gold deposit that hosts Measured Mineral Resources of 10.3 Mt at 1.804 g/t gold (600,000 oz), Indicated Mineral Resources of 74.8 Mt at 1.350 g/t gold (3.25 Moz) and additional Inferred Mineral Resources of 20.2 Mt at 1.48 g/t gold (960,000 oz), prepared in accordance with the requirements of National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”). The Mineral Resources are confined within a pit shell defined by a gold price of US$1,300/oz and a cut-off grade of 0.4 g/t gold. Mineral Reserves have also been defined with Proven Mineral Reserves of 8.25 Mt at 1.99 g/t gold (530,000 oz) and Probable Mineral Reserves of 45.87 Mt at 1.50 g/t gold (2.2 Moz). The Proven and Probable Mineral Reserves were estimated using a gold price of US$1,200 per ounce at varied cut-off grades from 0.552 to 0.665 g/t gold, dependent on lithological rock types, economics and estimated metallurgical recovery. Montagne d’Or ore can be readily processed to recover the contained gold and silver values using unit operations considered standard to the industry. For more information, see Orea’s news release titled “Columbus Gold Announces Positive Bankable Feasibility Study for Montagne d’Or Gold Project, French Guiana” dated March 20, 2017 and filed on SEDAR and the technical report prepared in accordance with the requirements of NI 43-101 titled “NI 43-101 Technical Report, Bankable Feasibility Study - Montagne d’Or Project, French Guiana” by SRK Consulting for Columbus Gold (now Orea Mining) and Nordgold with an Effective Date of March 6, 2017, and a report date of April 28, 2017, which was filed on SEDAR on April 28, 2017.
Qualified Person
Rock Lefrançois, President & Chief Executive Officer of Orea and Qualified Person under National Instrument 43-101, has reviewed this news release and is responsible for the technical information reported herein, including verification of the data disclosed.
About Orea Mining Corp.
Orea is a leading gold exploration and development company operating in a prospective and underexplored segment of the Guiana Shield, South America. Its mission is to develop gold deposits with a reduced environmental footprint using innovative technologies, upholding the highest international standards for responsible mining. In French Guiana, Orea holds a major interest in the world-class Montagne d’Or mine development project and is also advancing the Maripa gold exploration project. In Suriname, Orea is advancing the Antino gold exploration project through its option agreement to acquire up to a 75% interest.
For more about Orea visit the company’s website at www.oreamining.com
ON BEHALF OF THE BOARD:
Rock Lefrançois
President & CEO
For more information contact:
Investor Relations
(604) 634-0970 or
1 888-818-1364
ir@oreamining.com
what is wrong with this sh..tty miner, why is such a bad performance while gold/silver rallying?
anybody knows why?
Maybe not…great!
MC-ERSKY
@MCErsky
·
Apr 24
$OREAF French election is over. Orea Mining now expects court decision on 5Million Oz of gold to happen at any time. Currently at very LT support. Great time to load. Small float. Owns 45% of mine. Already won the court case, just waiting on final appeal to be rejected or not.
OREAF watching twitter, only way I'll know out come
Swing4TheFence
@Swing4The
$OREAF Remember this stock hit close to $1.40 when they discovered the mine several years back, now that they know how much gold is underneath(5mil ounces) $2 seems pretty reasonable. Give us our court victory!!!
1:16 PM · Apr 26, 2022·
Orea Mining
@OreaMining
·
19m
The Antino Project is Orea’s latest venture in the Guiana Shield. Orea aims to begin drilling on select resource definition targets in 2022.
Learn more about the Antino Project in the April 2022 presentation ?? http://bitly.ws/pYmG
$OREA $OREA.TO $OREAF
Orea Signs Formal Option Agreement for Antino Gold Project
in Suriname and Commences Exploration
Vancouver, BC, Canada, March 17, 2022, Orea Mining Corp. (“Orea”) (OREA: TSX) (OREAF: OTCQX) (3CG: FSE) is pleased to announce that it has entered into a Formal Option Agreement (“FOA”) to acquire up to a 75% interest in the Antino Gold Project (“Antino”), located in Suriname, South America.
As announced on July 6, 2021, a Binding Term Sheet (“BTS”) was signed to acquire up to a 75% interest in an advanced-stage gold exploration project located in a significant alluvial and small-scale open pit gold mining district in Suriname;
The FOA has been fully executed;
An airborne LiDAR (Light Detection and Ranging) survey covering 110 square kilometers has provided high-resolution topographic data and orthophotos for project development; and
Geological mapping and core relogging of the main open pit mining areas is underway.
Rock Lefrançois, President & CEO of Orea, commented “We are very excited to ramp up our field work and commence exploration at Antino, starting with a low-cost geological model for the planning of the first phase of drilling on priority resource definition targets.”
About Antino
Antino is an advanced stage gold exploration project located in mining friendly Suriname, South America, 275 kilometers southeast of the capital Paramaribo. The project consists of Rights to Exploitation of Gold (Suriname mining titles) covering 200 square kilometers. Under Suriname mining regulations, the mining titles allow for exploration and mining without any additional permits. The project is located in a significant area of alluvial and small-scale open pit gold mining at the intersection of major gold deformation zones known as CGSZ and NSSZ. Past exploration conducted by Canadian junior exploration companies during 1993-97 and 2006-07, including over 30,000 meters of drilling, has provided an excellent database and identified several targets for immediate resource development. A large portion of the project remains underexplored. Accommodations, communications, equipment, machinery, security and personnel have been established at Antino by the optionor, facilitating logistics for exploration.
Antino project location map is available at the following link:
www.oreamining.com/i/nr/2022-03-17-map-antino-location.pdf
Earn-in Terms
Orea to acquire up to a 75% interest and become operator of Antino through three option stages as follows:
First Option Stage for 51% Interest
Orea to acquire an initial 51% interest in Antino within three years of the Commencement Date (defined below) by:
Making cash payments totaling US$1,650,000, of which only US$350,000 is payable within the first year;
Issuing common shares of Orea totaling 3,400,000;
Incurring a minimum of US$6,000,000 in exploration expenditures; and
Completing a NI 43-101 Technical Report containing a minimum of 500,000 oz of gold in any category.
Second Option Stage for an Additional 19% Interest for a Total of 70%
Orea to acquire an additional 19% interest in Antino, for a total of 70%, within two years of completion of the First Option Stage by:
Making cash payments totaling US$1,500,000;
Issuing common shares of Orea totaling 200,000;
Incurring a minimum of US$10,000,000 in exploration expenditures; and
Completing a positive preliminary economic assessment (PEA).
In the event that Orea does not proceed with the completion of the Second Option Stage, Orea will transfer its interest in Antino back to the optionor.
Third Option Stage for an Additional 5% for a Total of 75%
Orea to acquire an additional 5% interest in Antino, for a total of 75%, within three years of completion of the Second Option Stage by:
Incurring a minimum of US$10,000,000 in exploration expenditures; and
Completing a bankable feasibility study (BFS).
The Commencement Date starts when certain conditions have been met, including receiving regulatory approvals required to consummate the transaction, such as stock exchange approval and approvals required by any Government Agency under applicable law.
Upon successful earn-in of Antino, Orea and the Optionor will form a joint venture with the objective of accelerating Antino into commercial production.
Qualified Person
Rock Lefrançois, President & Chief Executive Officer of Orea and Qualified Person under National Instrument 43-101, has reviewed this news release and is responsible for the technical information reported herein, including verification of the data disclosed.
About Orea Mining Corp.
Orea is a leading gold exploration and development company operating in a prospective and underexplored segment of the Guiana Shield, South America. Its mission is to develop gold deposits with a reduced environmental footprint using innovative technologies, upholding the highest international standards for responsible mining. In French Guiana, Orea holds a major interest in the world-class Montagne d’Or mine development project and is also advancing the Maripa gold exploration project. In Suriname, Orea is advancing the Antino gold exploration project through its option agreement to acquire up to a 75% interest.
For more about Orea visit the company’s website at www.oreamining.com
ON BEHALF OF THE BOARD:
Rock Lefrançois
President & CEO
For more information contact:
Investor Relations
(604) 634-0970 or
1 888-818-1364
ir@oreamining.com
50-50 at best
Hmmm. So what are our chances? 50-50? Let's hope we get a final ruling soon!
Well thats clear as mud. Next week may be real bad for us.
shareholder vote: Optional:
Vote all proposals in accordance with voting recommendations
To set the number of Directors at four (4).
Vote Recommendation:For
1
To set the number of Directors at four (4).
Vote Recommendation:
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For
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Election of Directors :
Vote Directors Individually
showing combined election of directors, radio button options
Election of Director: Marie-Hélène Bérard
Election of Director: Oleg Pelevin
Election of Director: Peter Gianulis
Election of Director: Robert Giustra
Vote Recommendation: For
Election of Director: Marie-Hélène Bérard
Election of Director: Oleg Pelevin
Election of Director: Peter Gianulis
Election of Director: Robert Giustra
Vote Recommendation:
For
For All
Withhold All
Appointment of Dale Matheson Carr-Hilton Labonte LLP, Chartered Accountants ("DMCL") as Auditors of the Company for the ensuing year and authorizing the Directors to fix their remuneration.
Vote Recommendation:For
3
Appointment of Dale Matheson Carr-Hilton Labonte LLP, Chartered Accountants ("DMCL") as Auditors of the Company for the ensuing year and authorizing the Directors to fix their remuneration.
Vote Recommendation:
For
For
Withhold
To consider any permitted amendment to or variation of any matter identified in this Notice and to transact such other business as may properly come before the Meeting or any adjournment thereof. Management is not currently aware of any other matters that could come before the Meeting.
Vote Recommendation:For
4
To consider any permitted amendment to or variation of any matter identified in this Notice and to transact such other business as may properly come before the Meeting or any adjournment thereof. Management is not currently aware of any other matters that could come before the Meeting.
Vote Recommendation:
For
For
Against
OREAF golden soon
That’s exactly what I said, they’re using diamond impregnated drill bits to drill gold core samples.
ok u have no clue, its gold not diamonds
The wording can be misinterpreted, they’re using diamond drill bits not drilling FOR diamonds.
Orea Drills 5.39 g/t Gold Over 24.3 Meters at the Maripa Gold Project in French Guiana
Vancouver, BC, Canada, February 22, 2022, Orea Mining Corp. (“Orea”) (OREA: TSX) (OREAF: OTCQX) (3CG: FSE) is pleased to report on the first results of the 2022 diamond drilling program at the Maripa Gold Project (“Maripa”), located in eastern French Guiana, France. As announced on February 15, 2022, Orea has entered into an agreement with a subsidiary of IAMGOLD Corporation (“IAMGOLD”) to purchase a 100% interest in Maripa.
Permits for 10,000 meters of diamond drilling on Maripa were approved by the Direction Générale des Territoires et de la Mer (“DGTM”), which regulates mining and exploration activities in French Guiana;
Orea completed 6 diamond drill holes as an initial reconnaissance of the Changement Gold Zone, which has been traced over a strike extent of 1.5 km;
Gold assay results were received for a fence of 4 drill holes centered on the main pit of the former Changement mine; and
Drill holes CHT-22-060B and CHT-22-061 returned important gold mineralized intersections below the main pit:
4.13 g/t gold over 8.1 meters (CHT-22-060B from 27.4 to 35.5 m);
5.39 g/t gold over 24.3 meters (CHT-22-061from 106.4 to 130.7 m); and
Visible gold (“VG”) was observed in both intersections.
Rock Lefrancois, President & CEO of Orea commented “We are extremely pleased with the initial drill results, which have confirmed significant economic potential at Changement, one of the five identified targets at Maripa.”
Changement Gold Zone
The Changement Gold Zone, located at the northern end of Maripa, is one of five partially drill-defined gold zones at Maripa. The Changement area was subject to placer gold mining from 1859 to 1950. All creeks peripheral to the deposit have been worked over time. Underground hard rock mining was recorded as early as 1880 and the deposit was exploited at surface by three shallow open pits from 1985 to 1996. Total declared historical placer and hard rock gold production is estimated to be approximately 100,000 ounces, with 42,000 ounces from hard rock. The Changement gold mineralization was interpreted to be localized within two subparallel north-northwest striking, moderately west dipping, shear zones of 10 to 25 meters in width cutting Paramaca Formation mafic volcano-sedimentary sequences. Gold mineralization is associated with quartz veining and sulfides, mainly as pyrite. The deposit has been traced by drilling to shallow depths over a lateral (strike) distance of 1,250 meters. A total of 63 diamond drill holes (4,500 meters) were completed by the French geological survey (BRGM, 1978-1998) and by IAMGOLD (2002-2004). Most of the drilling was confined to the weathered saprolite layer.
Prospecting by Orea in 2019 identified numerous abandoned mine shafts and adits excavated by illegal artisanal miners, located some 650 to 850 meters to the south of the former Changement mine main pit. Stockpiles of rock extracted from the mine workings consist of mineralized quartz-pyrite veins and mafic volcanic wall rock. Select samples of the mineralized material returned numerous high-grade assays including 115.70, 83.48, 68.43, 42.60, 29.57, 15.51, 14.70, 9.42, 6.05, 5.98, 52.33, 17.20, 16.99, 14.64, 14.50, 9.75, 9.00, 7.36 and 6.83 g/t gold (see news releases dated November 26, 2019). The discoveries extended the Changement gold mineralized trend another 250 meters to the south.
2022 Drilling Program
As announced on January 14, 2022, Orea commenced a diamond drilling program at the Changement Gold Zone, with 1,000 meters of drilling to be completed in January and February. This initial drilling phase was conducted between January 15th and February 8th. Six (6) drill holes, for a total of 911.5 meters, were completed (refer to the Changement Drill Hole Location and Changement Drill Hole Section 1100 maps at the links below).
CHT-22-059, -060, -060B and -061 served as a continuous fence of drill holes centred on the former Changement mine main pit with the objective to trace at depth the principal gold mineralized structure exploited at surface and to test for any subsidiary gold mineralized zones. Hole CHT-22-060B was drilled as a twin of hole CHT-22-060 due to poor core recovery in quartz veining zones within the weathered saprolite layer.
Gold assay results were received for drill holes CHT-22-059, -060, -060B and -061 (up to 130.7 m). Drill holes CHT-22-060B and CHT-22-061 confirmed the depth extension of the principal gold mineralized structure exploited in the main pit:
CHT-22-060B cut a sulfide mineralized quartz veining zone from 28 to 49 meters (21 m) hole depth within the weathered saprolite layer. Specks of VG were observed at one location. The zone returned an intersection averaging 4.13 grams per tonne (g/t) gold over 8.1 meters from 27.4 to 35.5 meters hole depth (25 meters vertical depth).
CHT-22-061 cut a shear zone with intense alteration from 67 to 130 meters (63 m) hole depth containing two sections of sulfide mineralized quartz veins from 67 to 93 meters (26 m) and 106 to 130 meters (24 m). Specks of VG were observed at three locations in the latter section, which returned an intersection averaging 5.39 g/t gold over 24.3 meters from 106.4 to 130.7 meters hole depth (90 meters vertical depth).
The dominant structural fabric in drill hole CHT-22-061 is close to 90° to the core axis indicating that the true width of the gold mineralized zone approximates core length. Oriented core measurements confirmed that the dominant structural fabric in the gold mineralized zone strikes northwest-southeast and dips moderately to the west.
Highlights of results received for drill holes CHT-22-059, -060, -060B and -061 are as follows (true width = approximate core length):
HOLE #
INTERCEPT (M)
GRADE
CORE LENGTH
COMMENTS
FROM
TO
(G/T GOLD)
(M)
CHT-22-059
no significant results
CHT-22-060
0
13.5
1.30
13.5
45% core recovery
19.8
25.0
3.54
5.2
60% core recovery
CHT-22-060B
2.5
11.2
1.04
8.7
45% core recovery
27.4
35.5
4.13
8.1
80% core recovery
46.8
57.0
1.15
10.2
95% core recovery
CHT-22-061
106.4
130.7
5.39
24.3
100% core recovery
incl.
106.4
111.5
7.70
5.1
incl.
119.6
120.6
71.41
1.0
CHT-22-062 and CHT-22-063, drilled 850 meters and 650 meters south of the main pit, respectively, targeted high-grade gold veins exploited by artisanal miners and the southern extent of the principal gold mineralized structure exploited by open pit. Gold assay results are pending for these holes.
Maripa and Changement maps are available at the following links:
Orea Project Locations:
www.oreamining.com/i/nr/2022-02-22-map-maripa-location.pdf
Maripa Project Geology:
www.oreamining.com/i/nr/2022-02-22-map-maripa-geo.pdf
Changement Drill Hole Location:
www.oreamining.com/i/nr/2022-02-22-map-maripa-changement.pdf
Changement Drill Hole Section 1100:
www.oreamining.com/i/nr/2022-02-22-map-maripa-changement-section1100.pdf
About Maripa
Maripa is located in eastern French Guiana along a paved national road, approximately 60 kilometers south of the capital city of Cayenne. The project is comprised of up to five contiguous exploration permits that cover an area of 120 square kilometers, namely the Changement, Maripa, Orapu, Crique Véoux (pending) and Maripa Sud-Est permits.
Past exploration at Maripa includes 134 diamond drill holes, for a total of 9,000 meters, which partially defined 5 broad gold zones; namely, from north to south, Changement, Filon Dron, Maripa Sud-Est, Rhyodacite and Filon Scieur. Drilling was limited to shallow depths within the weathered saprolite layer with all 5 prospects returning drill hole intersections of economic interest with demonstrated potential for expansion and mineral resource delineation. Gold mineralization is associated with shear-tension quartz vein systems and vein stockworks localized along major fault zones marking a regional deformation corridor known as the Northern Guiana Trough (“NGT”).
Initial prospecting by Orea in 2019 and 2020 in the northern half of Maripa led to the discovery of 5 new quartz-gold vein systems with high-grade gold potential in the vicinity of the Changement and Filon Dron gold zones.
In October-November 2020, Orea completed 8 diamond drill holes, for 1,168 meters, which tested 4 separate targets identified in the central part of the Maripa Gold Project (see news release date January 27, 2021). Six (6) of the 8 drill holes served to test the depth and lateral extent of 3 gold mineralized shear-hosted vein systems traced at surface in and around the Filon Dron gold zone. Four (4) drill holes intersected wide shear zones marked by quartz veining, strong hydrothermal alteration, and sulfide mineralization over 18 to 27 meters, which returned gold values.
Technical Info, QA/QC and Qualified Person
Orea obtained all permits required to conduct drilling operations on Maripa. Mining work declarations (“DOTM”) to conduct 10,000 meters of diamond drilling on Maripa were submitted to and approved by the DGTM.
Diamond drill holes were bored with HQ-size core (63.5 mm) in the upper weathered saprolite zone and telescoped to NQ size core (47.6 mm) in fresh rock. The core was placed in heavy PVC plastic core boxes with covers and transported by Orea personnel to the Company’s Matoury logging facilities, located at the outskirts of Cayenne along National Road 2 (RN2), 65 km by road north of the Maripa project. Orea personnel were present on site at all times during the drilling program.
The core was photographed for reference and logged by Orea geologists who also identified the sampling intervals. Samples were collected by sawing the core in half; sample lengths vary between 0.7 and 1.3 meter. Individual half-core samples were sealed in heavy duty cellophane plastic bags and placed by batch in sealed polypropylene bags and delivered by Orea personnel to the Filab Amsud depot in Cayenne for trucking to Filab Amsud laboratory in Paramaribo, Suriname, an ISO 9001:2015 accredited laboratory. The remaining half-core is stored in sturdy core racks at the Matoury logging facility. Samples were assayed for gold by the fire-assay method using an atomic absorption finish on a 50-gram pulp split. Samples assaying above 5 g/t gold are systematically re-analyzed with gravimetry finish. Mineralized sections were also analyzed by ICP-MS multi-element analysis, including copper.
A quality assurance and quality control program (QA/QC) was implemented by Orea and Filab Amsud to ensure the accuracy and reproducibility of the analytical method and results. The QA/QC program includes the insertion of gold standards, blanks and field duplicates in each laboratory assay batch. Check assaying of select gold mineralized sections was performed by screen metallics method for better reproducibility when metallic gold is present in the sample to overcome the “nugget effect”. In this method, a 500g sample is screened to 140 mesh (106µ). The fraction plus fraction is fire assayed for gold and a duplicate assay is performed on the minus fraction. The size fraction weights, coarse and fine fraction gold content and total gold content are reported.
The drilling program was conducted under the supervision Rock Lefrançois, President & Chief Executive Officer of Orea and Qualified Person under National Instrument 43-101, has reviewed this news release and is responsible for the technical information reported herein, including verification of the data disclosed.
About Orea Mining Corp.
Orea is a leading gold exploration and development company operating in a prospective and underexplored segment of the Guiana Shield, South America. Its mission is to develop gold deposits with a reduced environmental footprint using innovative technologies, upholding the highest international standards for responsible mining. In French Guiana, Orea holds a major interest in the world-class Montagne d’Or mine development project and is also advancing the Maripa and Suriname gold exploration projects.
For more about Orea visit the company’s website at www.oreamining.com
ON BEHALF OF THE BOARD:
Rock Lefrançois
President & CEO
For more information contact:
Investor Relations
(604) 634-0970 or
1 888-818-1364
ir@oreamining.com
And, I'm not too sure there was an issue with "automatic" with Orea. They still have to comply with all permitting and licensing requirements, etc
agree, I'm still trying to wrap my noggin around it myself.
That seemed like a lot of doublespeak to me.
February 18, 2022 - 3:48 pm
Vancouver, BC, Canada, February 18, 2022, Orea Mining Corp. (“Orea”) (OREA: TSX) (OREAF: OTCQX) (3CG: FSE) reports that today the French Constitutional Court (Conseil Constitutionnel) deliberated on a section of the French Mining Code relating to the renewal of historical mining titles and ruled that the “automatic” renewal provision associated with these mining titles does not comply with the French Constitution.
This ruling was issued in response to a constitutional law question raised in unrelated proceedings, brought before the Constitutional Court by NGO France Nature Environnement (“FNE”), in relation to another mining company, and is NOT related to the current proceeding before the French courts concerning the renewal of the Montagne d’Or gold project mining titles owned 44.99% by Orea and 55.01% by Nord Gold plc (the “JV”).
Four companies currently hold 16 historical mining titles in French Guiana, including the JV controlling the Montagne d’Or gold project, and are therefore potentially impacted by the Constitutional Court decision; however, in its ruling the Constitutional Court also indicated that its ruling will only apply to pending judicial proceedings where a definitive decision has not been issued.
It is therefore possible that the above noted ruling does not invalidate previous judicial decisions in favour of Orea and the JV, concerning the Montagne d’Or gold project, specifically the decision of the Court of Appeal in Bordeaux rejecting the French Government’s appeal and request for a stay of execution of the court rulings of December 24, 2020, which ordered the renewal of the Montagne d’Or gold project mining titles (see new release dated July 22, 2021).
Orea and the JV’s case concerning the Montagne d’Or mining titles is presently at the French Supreme Court. There is no certainty that the Supreme Court will not consider the Constitutional Court’s ruling, when deciding if it should hear the final attempt for an appeal that was requested by the French Government against the decision of the Court of Appeal in Bordeaux (see new release dated October 7, 2021), concerning the Montagne d’Or gold project; however, the Supreme Court has already denied a petition by FNE to join the French Government’s appeal (see new release dated January 10, 2022).
Additional updates will be provided by Orea when available.
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