Investorideas.com

Call 800 665 0411 to learn about our services

Search   Follow Investorideas on Twitter   Investorideas is on Facebook   Investorideas is on Youtube   Investorideas is on Pinterest  Investorideas is on stocktwits   Investorideas is on tumblr   Investorideas is on LinkedIn   Investorideas Instagram   Investorideas Telegram   Investorideas Gettr   Investorideas RSS



Share on StockTwits

Gold Stock News - Besra Gold (ASX: BEZ) Is in Discussions with Major Shareholder, Quantum Metals to Fund Production and Provide Off Take Purchase Agreement

 

Perth, Western Australia - November 25, 2022 (Newsfile Corp.) (Investorideas.com Newswire) The Board of Besra Gold Inc (ASX: BEZ) (ARBN 141 335 686) ("Besra" or "Company") is pleased to advise the market that it is in advanced discussions with its substantial shareholder, Quantum Metals Recovery Inc ("QM"), pursuant to which it is proposed that QM will provide up to US$300 million in financial support, commencing as soon as CY2023, by way of a gold offtake purchase facility.

The proposed facility, if implemented, would enable Besra to advance exploration and development planning, and expedite production at the Bau Gold Project in Sarawak, Malaysia. It is currently proposed that stream deliveries would be based on gold production from Bau, with Besra to receive 90% of the spot gold price for each ounce delivered subject to a monthly cap.

While no agreement has yet been reached, any agreement would be subject to Besra board, shareholder and regulatory approval including compliance with ASX listing rules.

The board considers that such funding may significantly diminish its need to source ongoing funds from the traditional equity and debt markets and would represent a significant milestone for Besra and QM in realising their shared vision of building the Company into a regionally significant gold producer.

The Company will provide further updates to the markets when appropriate.

Besra confirms that its trading halt will remain in place pending the announcement of a proposed capital raising.

This announcement has been approved for release by the Board of Directors.

Andrew Worland

Chairman

For further information:

Australasia

Ray Shaw
Chief Executive Officer
Email: ray.shaw@besra.com

North America

James Hamilton
Investor Relations Services
Mobile:+1 416 471 4494
Email: jim@besra.com

Forward looking statements

This Announcement contains forward-looking statements which may be identified by words such as "believes", "estimates", "expects', "intends", "may", "will", "would", "could", or "should" and other similar words that involve risks and uncertainties. These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that, as at the date of this announcement, are expected to take place.

Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, the Directors and management of the Company. These and other factors could cause actual results to differ materially from those expressed in any forward-looking statements.

The Company has no intention to update or revise forward-looking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this announcement, except where required by law.

The Company cannot and does not give assurances that the results, performance or achievements expressed or implied in the forward-looking statements contained in this announcement will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements.

ASX : BEZ
ARBN : 141 335 686

E: hq@besra.com
T: +61 89 429 8888
W: www.besra.com

A: 45 Ventnor Ave, Perth,
Western Australia, 6005.

More Info:

Investorideas.com Newswire

This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders


Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com

Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp






Gold Mining Stocks - Gold Mining Stocks Directory, Gold Stocks News, Research and Resources

Gold-MiningStocks.com - investing ideas in gold and mining stocks

Like Gold Stocks? View our Gold / Mining Stocks Directory

Get News on Mining Stocks