Baru Gold Corp. (TSX-Venture:BARU) is looking for gold in the volcanic ash of Indonesia.
The company is in the process of acquiring land on Sangihe Island and has a license for production on 42,000 hectares. Baru Gold provided local landowners with an update this morning on the land acquisition process on the project and compensation offered.
COVID-19 and a typhoon have caused recent delays, but Baru Gold expects the land acquisitions to be completed in the coming weeks as there is strong support for the project by island residents and the government.
Baru Gold management plans to operate the Sangihe gold mine in a sustainable manner that is transparent, legal and ethical, and for the benefit of all parties.
Baru Gold Corporation, formerly East Asia Minerals, is positioning itself to become Indonesia’s new gold producer. We are a dynamic junior gold developer with NI43-101 gold resources in Indonesia, one of the top ten gold producer countries in the world.
With sufficient funds and strong retail and institutional shareholder support, Baru Gold is well positioned to take advantage of the increased interest in gold and precious metals with both exploration upsides and operation cashflow in 2021.
The stock was up 10% in late morning trading.