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.
