Baru Gold Corp has increased its non-brokered private placement from $240,000 to $338,589 to support working capital following additional investor interest. The company also provided a summary of its Sangihe Gold Project resources, which include over 200,000 oz of gold and 3 million oz of silver.
Lion Energy has commenced rig mobilisation for the Bula-Karang-1 exploration well in Indonesia's East Seram PSC. The well targets 12 million barrels of oil on a P50 basis, with partner OPIC funding 88% of the estimated US$6.7 million cost.
Baru Gold Corp. has entered a forbearance agreement with Mercer Street Global Opportunity Fund regarding a matured CDN $816,110 convertible loan, extending the repayment deadline to July 17, 2027. In exchange, the company will issue 6,528,879 bonus warrants and reduce the loan interest rate to 16.67% per annum, while rendering the loan unsecured. The release also restates historical gold and silver resources for the Sangihe Gold Project.
Baru Gold Corp has completed a non-brokered private placement for aggregate proceeds of $336,625 CAD, issuing 7,480,555 units. The company also reiterated its existing gold and silver resource estimates for the Sangihe Gold Project in Indonesia, noting an intention to proceed to production without a formal feasibility study.
Baru Gold Corp has increased the size of its non-brokered private placement to up to 7,480,555 units, aiming for gross proceeds of up to $336,625 CAD. The announcement also restates the Sangihe Gold Project's mineral resource estimates, which include over 200,000 oz of gold and 3 million oz of silver.
Baru Gold Corp has announced a private placement of up to 7,000,000 common shares at $0.045 per share, aiming to raise approximately $315,000 CAD to fund operations for the next three months. The release also provides a summary of the Sangihe Gold Project's existing NI 43-101 resource estimates, noting over 200,000 oz of gold and 3 million oz of silver.
Baru Gold has awarded a contract for the design and construction of an automated electrowinning elution column plant for the Sangihe Gold Project in Indonesia. The modular plant is designed to initially produce 1,500 ounces of gold per month with scalability to 3,000 ounces. Notably, the company intends to move to production without first establishing mineral reserves via a feasibility study.
Baru Gold has identified antimony mineralization within its Sangihe Gold Project in Indonesia after reviewing historical drill core data. The company plans to revise its exploration program to expand the gold resource and delineate the antimony, which is now considered a critical mineral.
