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Baru Gold receives approval for PT Tambang Mas Sangihe work plan

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Global Mining Review,

Baru Gold Corp. has announced that the work plan and budget, Rencana Kerja & Angaran Belanja (RKAB), for PT Tambang Mas Sangihe (TMS) for 2021 has been formally approved by the Ministry of Energy and Mineral Resources.

The RKAB includes planning and proposed expenditures for construction, mining, production, community programmes, environmental rehabilitation, and geological and geotechnical investigations for 2021.

The RKAB is a formal annual requirement for all mining concessions in Indonesia, whether in the exploration or production phase, and the approval is a prerequisite to any activities being carried out in that particular year.

Baru Gold CEO, Terry Filbert, commented: “The company wishes to thank the Ministry of Energy and Mineral Resources for their very prompt approval of the 2021 RKAB. While the company awaits the upgrade of our licence to production status, this approval demonstrates strong support and commitment to the development of the project by the Indonesian government.”

The company has also announced that it has granted an aggregate amount of 3 125 000 stock options to officers, directors, employees and consultants of the company in accordance with the provisions of the company's stock option plan. The grant of the options is subject to the approval of the TSX Venture Exchange. Each option entitles the holder to purchase one common share of the company at an exercise price of CAN$0.155 for a 5-year period.

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