ASX ANNOUNCEMENT
28 May 2024
ASX: BEZ
Besra Gold Inc (Besra, or the Company) refers to its ASX announcement dated 15 May
2024 and advises that the Company has today received confirmation from Quantum
Metal Recovery Inc (Quantum) that Quantum has successfully opened in Australia a
US$ bank account with the Commonwealth Bank of Australia (CBA).
As a consequence of the opening of this US$ bank account, Quantum will now be
able to meet the Malaysian regulatory (Sharia law) requirements and commence
sending US dollars from Malaysia directly to Quantum’s US$ CBA bank account.
Following receipt of these US dollars into Quantum’s Australian US$ bank account,
Quantum can then transfer US dollars into Besra’s existing Australian US$ bank account
in accordance with the Gold Purchase Agreement.
As further advised by Besra on 15 May 2024, following the receipt by Besra of the
outstanding US$9,827,854.60 deposit[1], the parties will renegotiate the weighted
average gold price to reflect current gold prices for the deposit amount.
Quantum has advised Besra that it intends to fulfill its commitment to deposit the
US$9,827,854.60 by remitting to Australia the deposit amount in five tranches, with the
last tranche to be received in mid-June 2024.
This announcement was authorised for release by the board of Besra Gold Inc.
Michael Higginson
Company Secretary
[1] Refer ASX announcement dated 28 December 2023