Besra Gold Inc is seeking to list on the Australian Securities Exchange (ASX) and has lodged its Prospectus to raise between A$10 million and A$12.5 million, by the issue of between 50,000,000 and 62,500,000 Chess Depository Interests (“CDIs”) (each CDI will represent one common share in Besra) by Besra at A$0.20 per CDI (“Offer”). The Offer is being arranged by Canaccord Genuity (Australia) Limited.
The Prospectus is available to qualified investors at https://besraoffer.thereachagency.com
Funds raised pursuant to the Offer will be used to significantly advance drilling and development plans at the Company’s Bau gold project in East Malaysia.
The Bau gold project covers an 8 km x 15 km heavily gold-endowed fairway, with 6 major deposits and >20 additional prospects.
Bau hosts a potentially world class, large scale, advanced and shallow gold asset: including a JORC 2012 Resource of 72.4Mt @ 1.43g/t Gold for 3.3Moz and an Exploration Target of a further 87 – 112Mt @ 1.72 – 2.55g/t Gold for 4.9 – 9.3Moz 1.
Besra has spent over US$40m (A$62m) on Bau historically, creating a comprehensive data-based including >250,000m of drilling.
1) The potential quantity and grade of the Exploration Targets is conceptual in nature; there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration work will result in the estimation of a Mineral Resource.