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Baru Gold Corp V.BARU

Alternate Symbol(s):  BARUF

Baru Gold Corp. is a Canada-based mineral resource exploration company. The Company is focused on developing and producing precious metals projects in Indonesia. The Company’s focus is on developing precious metals projects with significant resource upside potential and near-term production capabilities. The Company’s Sangihe Gold project mineral tenement consists of one block covering the southern half of Sangihe Island, located between the northern tip of Sulawesi Island (Indonesia) and the southern tip of Mindanao (Philippines). The Sangihe Project covers 42,000ha; this includes the Bawone, Binebase prospects on the eastern part of the island and Taware prospect in the south-central region with infrastructure in place. The Company has a 70% interest in the Sangihe project.


TSXV:BARU - Post by User

Bullboard Posts
Comment by lockstock99on Aug 05, 2010 7:57pm
543 Views
Post# 17326341

RE: RE: Thank you!

RE: RE: Thank you!I googled indonesia mining moratorium and apparently this was known for sometime, at least in June and there are some mentions of it in April. I only learned of it today, as apparently did some other investors. I don't understand why the company didn't specifically discuss it in their discussion of  current permitting issues they just put on the web site. I also don't understand why the Coffins didn't at least alert their subscribers this was a potential issue. From what I read this is not a hypothetical, this is something that is going to happen officially in return for a  $1 billion dollar "green bribe". Like many, I am going to try to find out more in the next few days but there is concern in my mind. EAS will be an open pit mine in a protected forest and I don't see how they can escape at least the 2 year moratorium- the 2 year is not the issue but whether the moratorium is a step to a permanent ban. I have had a couple of stocks in Ecuador and Canada (Aurora) that were pole axed by a mining moratorium. I could have/ should have sold at $8 , at this point I am still up but very concerned.
Bullboard Posts