Baru Gold Corp V.BARU

BARU.v - Mexico Mike has posted!

[brodeur]

Surely we must be getting closer to having the mining license restored? It has been around a year since that process started, which was supposed to take a few weeks. I know the turmoil at the ministry is the problem here, but even so, one would think Indonesia will get its act together enough to enable business to resume? Given that gold is threatening to break out to yet another new high in the weeks ahead, it would be perfect timing to have some good news. Thereafter I believe the arrangements with at least one of the local mining companies can then proceed and provide some much-needed cash and income to BARU as gold production commences. I would add that these illegal miners were making good money using crude operations and with a much lower gold price on this property. So it would be reasonable to expect a very solid cash flow from the JV operations if/when they are able to legally get underway.
I would like to hear an update from the company to see if there is any concrete validation to support my optimism. As well, I would like an update on the situation to get the financial reporting back into compliance. The money was raised in a PP to do so a while back and again, I think it is reasonable that we can expect some good news soon with that issue.
I can still see a scenario where BARU stock rises very quickly if they can get the ducks lined up. And with the potential for exploration to resume in this highly prospective property package I could see further upside from there, in what may amount to a very speculative market for junior gold stories later this year. I have not given up and have not sold a share. I will try to get in touch with management for an update.
cheers!
mike

[jdunlop]

Thanks for posting brodeur, l'm not enormoued with mikes predictions. He manages to get it wrong frequently, just another talking head.