Japan closed all 76 of its gold mines during World War II and reallocated personnel to base metal mines and factories. After the war, it only re-opened 12 of the mines, leaving the other 64 closed to this day.
It wasn’t until 2012 that Japan allowed foreign mining companies to come to its shores for the first time in its history.
That’s when entrepreneur John Proust formed Japan Gold (TSXV: JG; US-OTC: JGLDF) and assembled a portfolio of 12 gold projects, which contain 42 of the 64 gold mines that were closed during the war. The projects are on Japan’s three largest islands: Kyushu, Hokkaido and Honshu.
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