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Baru Gold Corp V.BARU

Alternate Symbol(s):  BARUF

Baru Gold Corp. is a Canada-based junior gold developer with NI 43-101 gold resources in Indonesia. 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

Comment by goldnerdon Oct 09, 2023 11:57pm
198 Views
Post# 35676440

RE:BARU.v - 300% move by end of year

RE:BARU.v - 300% move by end of year Unfortunately I can't share your joyful outlook as I just came upon this: Breaking News: PT. Tambang Mas Sangihe, the Indonesian Subsidiary of Baru Gold Corporation has been sued by Sangihese villagers affected by the gold mining for depriving them of their civil rights as granted in the Indonesian Constitution. The plaintiffs state that neither the Contract of Work between the company and the Indonesian Republic nor the Environmental Permit has binding force for them as they were reached unlawfully bypassing the sovereignity and rights of the affected communities. The lawsuit has been registered in the Sangihese Capital Tahuna on October 3rd, 2023 with number 117/Pdt.G/2023/PN Thn. The plaintiffs are asking for a total of USD 6,580,788.- in compensation for material losses and a total of USD 95,373,750 in compensation for immaterial harm. In order to prevent further losses to the Plaintiffs during the case until a legally binding decision is obtained, the Plaintiffs request that the Tahuna Regency Court issue a Stipulation of Suspension of Implementation of the Decision of the Head of the North Sulawesi Investment and PTSP Office (Co-Defendant II) Number 503/DPMPTSPD/IL/182/IX/2020 dated 25 September 2020 concerning the Granting of Environmental Permit for Gold Mining Activities of PT Tambang Mas Sangihe in Kab. Kepl. Sangihe, North Sulawesi Province, as well as the Cessation of All Production Operations of PT. TMS and its allies in Sangihe Regency, North Sulawesi Province, until the decision of this case has permanent legal force.


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