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references: https://e360.yale.edu/features/prabowo-subianto-indonesia-nickel-mining-rainforest https://medium.com/@faktamenarik81/natural-resources-in-the-sulawesi-islands-5705c2f3e2a6 https://stockhouse.com/opinion/interviews/2024/07/30/a-world-class-copper-opportunity-peru "On the Indonesian island of Sulawesi, over a third of the forests now lie within nickel mining concession areas, according to a study published this month by Mighty Earth, a global advocacy group which works in the country." While this article is about deforestration and Nickle, this Island of Sulawesi has an abundance of minerals:
"Minerals: Sulawesi is rich in mineral resources, including gold, copper, nickel, and coal. The island is home to several large-scale mining operations that have helped drive the Indonesian economy" Island of Sangihe is in North Sulawesi and if the minerals is similar throughout the area, Baru with only 10% drilled could very well be sitting on a potential billion dollar property. Back to the article on forestration. If the government is going to start prioritizing some part of economic growth and global reliance away from China, deforestration to get to minerals may get a different political policy. Miwah "Resource Model (NI 43-101, I.Taylor,2011) defined an Inferred Resource of 103.9Mt at 0.94g/t Au and 2.68g/t Ag containing 3.14Moz Au and 8.95Moz Ag" could very well be removed from being forest protected and become a major mine operation. And there could be more than 3.14M oz....hasn't been fully drilled out yet. Taking a page out of the Coppernico Metals interview, if 5M oz results in 900M market cap with takeover potential, add Miwah + Sangihe with drilling in each to further current resources could net 5M+ oz. From $5.31M market cap to $900M market cap is not a next day event, but worth every penny to generate 180x return is likely less risky than other juniors who have to drill to define any type of resource. Miwah and Sangihe has an initial resource defined...the risk that hangs on Baru is the government issuing permits and removing forest production. With the new President and government coming in play in October, Baru could be a very different company than what it was in the past 2-3 years.
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