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Baru Gold Receives Approval for PT Tambang Mas Sangihe Work Plan & Budget and Grants Options
(TheNewswire) January 7, 2021 – TheNewswire - Vancouver, B...
About this update from Baru Gold Corp
[{"type":"text","content":"Baru Gold Receives Approval for PT Tambang Mas Sangihe Work Plan & Budget and Grants Options\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n January 7, 2021 –\n \n \n TheNewswire -\n \n \n Vancouver, British Columbia - B\n \n aru Gold Corporation\n(the “Company”)\n \n (\n \n \n TSXV:BARU\n \n \n )\n \n \n |\n \n \n (OTC:\n \n \n BARUF\n \n \n )\n \n is pleased to announce that the\nWork Plan & Budget Rencana Kerja & Angaran Belanja\n(“RKAB”) for PT Tambang Mas Sangihe (“TMS”) for 2021 has been\nformally approved by the Ministry of Energy and Mineral Resources\n \n .\n \n \n \n The RKAB includes planning and proposed expenditures for construction,\nmining, production, community programs, environmental rehabilitation,\nand geological and geotechnical investigations for 2021.\n \n \n The RKAB is a formal annual requirement for all mining concessions in\nIndonesia, whether in the exploration or production phase, and the\napproval is a prerequisite to any activities being carried out in that\nparticular year\n \n \n Baru Gold CEO, Mr Terry Filbert, commented,\n \n “The Company wishes to thank the\nMinistry of Energy and Mineral Resources for their very prompt\napproval of the 2021 RKAB. While the Company awaits the upgrade of our\nlicence to production status, this approval demonstrates strong\nsupport and commitment to the development of the project by the\nIndonesian government.\n \n \n ”\n \n \n \n \n The Company also announces that it has granted an\naggregate amount of 3,125,000 stock options to officers, directors,\nemployees and consultants of the Company in accordance with the\nprovisions of the Company's stock option plan. The grant of the\noptions is subject to the approval of the TSX Venture Exchange. Each\noption entitles the holder to purchase one common share of the company\nat an exercise price of $0.155 for a five-year period.\n \n \n \n \n ABOUT SANGIHE GOLD PROJECT\n \n \n \n The Sangihe gold-silver project is located on the island of Sangihe\noff the northern coast of Sulawesi and has an existing National\nInstrument 43-101 inferred mineral resource of 114,700 indicated and\n105,000 inferred ounces of gold as reported in the Company's\n\"Independent Technical Report on the Mineral Resource Estimates\nof the Binebase and Bawone Deposits,...