Baru Gold Corp V.BARU

RE:RE:RE:RE:Baru Gold Continues Samples 72.0 g/t Gold and 97.0 g/t Silv

[jdunlop]

In addition to the good news regarding sample results issued today, I spoke with Terry this morning for an update on the progress to get the mine into operation. The ongoing bunfight with the SSI group that is basically representing the illegal miners had another round of court hearings. In Terry's estimation all of the issues raised by SSI have been formally dismissed/debunked by evidence presented. Terry believes the ruling will be issued within a month that completely resolves the drama for once and for all. However, the media ran another 'article' that was basically text from the SSI website to suggest that heavy equipment has been banned from operating at Sangihe. This sort of nonsense has been used several times since the dispute kicked off, and the media accepts a false narrative without confirmation. The misinformation is part of a campaign to enable SSI to raise money in donations from wealthy individuals that think they are 'saving the environment' by opposing mine development. It has indeed contributed to a delay to get the operation up and running but will not amount to any long term problem. Terry reiterated that the mine is fully permitted, including equipment import/export documents, drill permits for the exploration program and the right to operate heavy equipment on the project. They have contracted a private barge to transport equipment and investigated using the local ferry service, however that is tied up while safety standards are reviewed. The bottom line to all of this is its common to have a lot of minor issues and hoops to jump through in Indonesia on a project like this. Terry is in Jakarta right now to better manage all of it and see this through. In addition, he has started buying additional surface rights for other parts of the property to allow greater scope of operations for the final mine development process and future expansion.

This is a 3rd party newsletter that is shared with permission:

 

The only other info that I asked about was the outstanding 5 cent warrants from the original restructuring of the share structure. These warrants were extended and repriced to 15 cents so they are still outstanding but currently out of the money. Terry is hopeful the final stages of development are completed prior to the warrant expiry so that the share price will increase enough to have those warrants converted, and inject additional cash in the treasury.

I continue to hold my core position in the stock. Baru runs a paid ad on this website.
cheers!
mike