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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

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Comment by goldlover11on Jan 29, 2018 3:53pm
89 Views
Post# 27457342

RE:RE:RE:RE:N / R - FYI

RE:RE:RE:RE:N / R - FYI This came out today. The concerned shareholders seem to have done their homework.---------------------- EAST ASIA MINERALS CONCERNED SHAREHOLDERS' ADDITIONAL INFORMATION ABOUT THE CURRENT BOARD Vishal Gupta and Patrick Cronin, as concerned shareholders of East Asia Minerals Corp., have issued a proxy circular dated Jan. 12, 2018, and a supplement to the circular dated Jan. 23, 2018, urging you to create positive change for the company by voting for Mr. Gupta, Kim Oishi, Michael Hawkins, and Rick Huang at the upcoming annual meeting of shareholders of the company to be held on Feb. 1, 2018. The concerned shareholders urge you to vote the green or blue form of proxy or voting instruction form as soon as possible, and by no later than 10 a.m. on Jan. 30, 2018. In an effort to bring clarity to the convoluted and non-transparent conduct of the company's current board of directors, the concerned shareholders would like to highlight the following facts about Terry Filbert, the chief executive officer and the chairman of the board: According to the System for Electronic Disclosure by Insiders (SEDI), Mr. Filbert purchased all of his 230,000 shares of the company at an average price of 10.5 cents per share in October, 2017, once he had come to the realization that the concerned shareholders may bring a dissident action and propose an alternate board of directors at the company's next AGM. It is abundantly clear that since the board collectively owns only 230,000 shares of the company, the current directors don't have a material vested interest as shareholders of the company. As per the company's management information circular filed on SEDAR on Jan. 5, 2018, Mr. Filbert's current retainer from the company is estimated at $20,000 (U.S.) per month. It is the concerned shareholders' contention that Mr. Filbert, as the chief executive officer of the company and as the chairman of the board is expending all of the company's remaining funds and driving the company to insolvency for the following two reasons: To continue getting his excessive monthly retainer of $20,000 (U.S.) per month; To prevent any proper oversight/investigation of the company's financial and operational expenditures/activities under his stewardship. Below is an excerpt taken directly from the company's audited annual financial statements for the year ended Aug. 31, 2017, that clearly illustrates the extremely excessive general and administrative expenditure under the direction of the board and Mr. Filbert. In addition, the concerned shareholders would also like to note that the company was essentially dormant until January, 2017, which implies that the expenditure highlighted below was incurred by the company in only seven months from January, 2017, to August, 2017. The concerned shareholders would also like to point out that the board has recently been publishing negative commentary about Mr. Hawkins, who is one of the concerned shareholders' nominees. Below is an excerpt taken directly from a press release that the board published on Aug. 25, 2017: Now that Mr. Hawkins has agreed to be a part of the concerned shareholders' nominees and help provide proper operational guidance to progress the Miwah deposit, Mr. Filbert contends that Mr. Hawkins is not the right person to operate in Indonesia. It is quite apparent to the concerned shareholders that the company's current board is interested in one thing, and one thing only -- and that is preserving their own positions and preventing any oversight related to the expenditure of shareholders' capital at any and all costs. Time for you to make a positive change at East Asia Minerals The concerned shareholders' materials contain a detailed description of the concerned shareholders' concerns about the current management of the company and the incumbent directors, as well as the plans that the concerned shareholders' nominees have to move the company forward. The concerned shareholders urge you to vote for the concerned shareholders' nominees using either the blue form of proxy or voting instruction form mailed with the circular or the green form of proxy or voting instruction form filed on-line on SEDAR under the company's profile. Please vote your green or blue proxy or voting instruction form before Jan. 30, 2018, at 10 a.m. PT. For assistance with obtaining the "control number" required to vote your shares using a voting instruction form, non-registered shareholders should contact their broker or other intermediary or, in the case of non-objecting beneficial shareholders, Broadridge Financial Solutions, Inc. at ProxyRequest.ca@broadridge.com.
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