Australian gold junior Besra secures up to US$300M to build a mine in Malaysia Besra
- Besra Gold today announced the execution of a non-binding term sheet for the provision of up to US$300M gold pre-purchase drawdown and offtake funding agreement signed with its major shareholder Quantum Metal Recovery, one of the largest gold distributors in Malaysia.
According to a company press release, post-completion, the facility provides up to a US$300M deposit, to be paid over 30 months against future production ounces, enabling Besra to fully fund production at the Bau gold project in Malaysia and the appraisal of other deposits within the Bau goldfield corridor.
Upon implementation of a pilot plant and further successful updates to the feasibility studies, Besra plans to utilize the funds raised to commence commercial-scale production within 12-18 months.
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