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Baru Gold Corp Completes Land Tax Payments for Sangihe Gold Project, Clearing Path to Production Operations
(TheNewswire) June 24, 20224 – TheNewswire - VANCOUVER, B.C. - Baru Gold Corp. ...
About this update from Baru Gold Corp
[{"type":"text","content":"Baru Gold Corp Completes Land Tax Payments for Sangihe Gold Project, Clearing Path to Production Operations\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n June 24, 20224 – TheNewswire -\n \n\n VANCOUVER, B.C. - Baru Gold Corp.\n \n\n (\n \n\n BARU: TSX.V | BARUF: OTCQB\n \n\n )\n \n\n (the “Company” or “Baru”) and its\nsubsidiary PT. Tambang Mas Sangihe (“TMS” or the “Company”)\n \n\n is pleased to anno\n \n\n unce to\nshareholders that the outstanding land use taxes on the Sangihe Gold\nProject have been paid.\n \n\n\n\n Land use tax payments made by the Company totalled\napproximately CAD$940,000 (11.2 billion Rp). Paying this land use tax\nwas the key obstacle in obtaining approval for the upgrade from\nExploration to Production Operations. With this milestone achieved,\nthe Company now meets both the technical and financial requirements\nset by the Indonesian Ministry of Energy and Mineral Resources to\nreceive the upgrade.\n \n\n\n\n The upgrade to Production Operations is guaranteed by\nIndonesian law in accordance with the Company’s Contract of Work.\nShareholders will be notified when the upgrade is issued.\n \n\n\n\n Baru continues to make rapid progress finalizing the\nUSD$100 million financing package announced on May 15, 2025. Draft\nagreements and documentation have been prepared and will be exchanged\nover the next few days.\n \n\n Given the current speed\nof progress,\n \n\n the Company remains confident in\nclosing the financing within the next several weeks.\n \n\n\n\n Mr. Terry Filbert, CEO of Baru Gold, commented,\n \n\n \"\n \n\n With regulatory and financing milestones\nadvancing in tandem, the Company plans to begin operations as soon as\npossible. Once the Production Operations upgrade is issued, I\nanticipate having the financial means to scale production faster than\npreviously anticipated.\n \n\n I\nwould personally like to thank those that provided the funding\nnecessary to pay the nearly 1 million dollars in land use taxes. Their\nfinancial support is an expression of confidence in the Sangihe Gold\nProject and a significant step forward for the Company and all its\nstakeholders.\"\n \n\n\n\n ABOUT SANGIHE GOLD PROJECT\n \n\n\n\n\n\n The Sangihe Gold Project\n(“Sangihe”) is located on t...