Orea Mining noted that together with not filling its audited annual financial statements, it won’t be able to publish management discussions, analysis and related officer certifications for the fiscal year ended Sept. 30, as required under Canadian securities laws. The Vancouver-based firm was expected to file the statements by Dec. 29, 2023.
Orea intended to acquire Norgold’s 55.01% interest in the Montagne d’Or gold project in French Guiana, but the Canadian government did not approve the deal.
Ottawa’s decision prompted Orea to abandon plans to become the only owner of the open pit gold project, which is expected to generate 214,000 ounces per year average over a 12-year mine life. Production over the first 10 years of the mine is pegged at 237,000 ounces annually average.
The company noted that it has since experienced a material reduction in staff, leaving it unable to pay its auditors.
Orea Mining added it is…
