On 20 January 2014, Besra Gold Inc. (ASX:BEZ – Besra or “the Company”) released an announcement relating to the release of the Feasibility Study for Stage 1 of the Bau Gold project located in Sarawak, Malaysia.

Further to that announcement the Company wishes to provide the following additional information.

  1.  As the reported Mineral Resources, are consistent with, and extracted from, the November 2012 resource announcement, which is an update of the February 2012 and August 2010 resource releases, Besra is also required to advise that: “This information was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.”
  2. Besra confirms that all the material assumptions underpinning the production target as stated in the 20 January 2014 Announcement continue to apply and have not materially changed. However, in satisfaction of the ASX Listing Rules 5.16 and 5.17, Besra restates these assumptions and includes other details and assumptions relating to forecast financial information. These are shown in an Addendum to this revised announcement.
  3. As this is a “first time” release of ore reserves for the Bau Project, Besra is required to satisfy the ASX Listing Rules 5.9.1, and supply more detailed or additional information to the original 20 January 2014 Announcement. This additional information is shown in the Addendum to this revised announcement.
  4. Additionally, in accordance with the ASX Listing Rules 5.9.2, Section 1 and Section 4 of Table 1 of Appendix 5A (JORC Code) are included in Appendix 1 of the Addendum.

The additional information indicated above has been included in this revised announcement as an Addendum to the original announcement.

A calculation error has been identified in some of the economic indicators and the associated corrections have been made in the original release attached. These are updates to the operating cost/tonne, all-in sustaining cost per tonne, all-in cost per ounce, NPV and IRR. Only these figures were affected by the calculation error and all other figures or assumptions remain the same, and in particular the reserves and production target.

The same figures have been corrected in the Feasibility Study which is also available for direct download (47 MB pdf).