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$2.20 oceanagold corporation

“In December, the Company met with Philippine Government...

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wooshaa

2,172 Posts.

175

20/02/21

13:39

Post #: 51180202
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Originally posted by Sentia717: ↑

I am not sure what spectacles you had on when you read that announcement released back on December 7th 2020 but i saw no mention of having finalised the paperwork. Here is the full text of that announcement :

OCEANAGOLD COMMENTS ON DIDIPIO MINE FTAA RENEWAL PROGRESS
(BRISBANE) OceanaGold Corporation (TSX: OGC) (ASX: OGC) (the “Company”) has been notified that the
Office of the President of the Philippines has instructed the Department of Environment and Natural Resources
(“DENR”) to engage with the Company and the Department of Finance (“DoF”) to finalise the renewal of the
Financial or Technical Assistance Agreement (“FTAA”).
This follows the recent granting of a Certification of Non-Overlap (“CNO”) to the Company which states that
the FTAA area is outside of ancestral domain of the Indigenous Cultural Communities/Indigenous Peoples.
The Company’s FTAA has the strong endorsement of the residents in the local communities in and around the
Didipio Mine including Indigenous Peoples. The Company looks forward to the continued engagement with the
national government with the goal of finalising the FTAA renewal.
As a contractor of the Philippine Government and a responsible multinational miner, the Company is ready and
waiting to restart the Didipio operations and to continue contributing to the Philippines’ post-COVID-19
recovery.
The Company will continue to update the market around the FTAA renewal process when appropriate to do
so.
- ENDS

So I think you would have to say that the announcement indicates that the Office of the President has told the DENR that it is okay to get in touch with OGC and work on sorting out the renewal of the FTAA. Nothing finalised at that stage. That is what they are doing in the weeks and months since early December. The positive out of all that is the firm intention by the Office of the President to have the DENR get the job done.
We await developments with interest.

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“In December, the Company met with Philippine Government officials, as instructed by the Office of the
President, to finalise the terms and conditions of the FTAA renewal. We expect the renewal will be returned
to the Office of the President for review and approval in the near-term.

OCEANAGOLD CORPORATION (ASX:OGC) - Ann: OGC Reports Prelim Full Year and Q4 2020 Operational Results, 50250659, page-1 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

Last edited by wooshaa: 20/02/21

OGC Price at posting: $1.98 Sentiment: None Disclosure: Held
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