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East Asia Provides Update on Miwah Gold Project
Vancouver, British Columbia--(Newsfile Corp. - November 8, 2017) - East Asia Minerals Corpor...
About this update from Baru Gold Corp
[{"type":"text","content":"East Asia Provides Update on Miwah Gold ProjectVancouver, British Columbia--(Newsfile Corp. - November 8, 2017) - East Asia Minerals Corporation (TSXV: EAS) (the \"Company\") provides the following update on the Miwah project in Indonesia.The Miwah project is located in the Province of Aceh approximately 130 km southeast of Banda Aceh, with the total area of 30,000Ha (\"Miwah Project\").  The Company holds an 85% indirect equity interest in the Miwah project.  The Miwah project lies within three contiguous Izin Usaha Pertambangan Eksplorasi (\"IUP Exploration\"), which the Company is party to through cooperation agreements with its partners.  The IUPs were initially issued in the form of Mining Concession (Kuasa Pertambangan) and were converted into IUPs in November 2009 by the Regent of Pidie Regency of the Province of Aceh, Indonesia. The remaining 15 percent interest in the Miwah project is held by unaffiliated Indonesian corporations.The IUP Exploration does not grant its holder the complete set of permits or licences required to carry out mining activity.  In order to conduct mining activity, the IUP holder is separately responsible for upgrading the IUP Exploration to the IUP Operation Production, applying and receiving any other permits required, which may include, but are not limited to, environmental license, forestry access permits and land owner consents.The Company previously was unable to fund certain annual payments, including the deadrents, property taxes and other payment obligation and has not completed its environmental impact analysis and feasibility study, and perform the required activities on the Miwah Project due to Indonesian governmental forestry related restrictions.  The Company continues to ascertain the legal status of these IUPs Exploration under the laws and regulations of Indonesia.In furtherance of its efforts on the Miwah project, the Company has been holding various meetings with federal and regional government officials discussing the process required to bring the Miwah Project current and in compliance with both local and federal authorities. A review and evaluation on the Miwah Project may be conducted by the regional government officials in order to resolve the status of the IUPs Exploration. Sangihe ProjectThe Sangihe gold-copper project is located on the...