Besra Gold Inc. Announces Market Update
Besra Gold Inc. (ASX: BEZ) has issued a market update addressing unauthorized communications made by Quantum Metal Sdn Bhd, a company associated with director Dato Lim Khong Soon. The company identified two specific unauthorized communications containing factually incorrect and potentially misleading statements:
1. An unauthorized video uploaded to Facebook on February 12, 2025, which incorrectly claimed "Studies confirmed 3.3 million ounces of gold" at the Bau Project (Jugan Hill Deposit). Besra clarifies that its actual JORC-compliant mineral resource is approximately 2.85 million ounces (with 0.96 million ounces at Jugan Hill).
2. An unauthorized notice posted on Quantum Metal's website on February 20, 2025, falsely claiming "delivery of physical gold to QM will be completed within three years from the date the agreement was signed."
Besra has requested removal of these communications and is investigating circumstances surrounding CDI transfers from Quantum Metal Recovery Inc.
Besra Gold Inc. (ASX: BEZ) ha pubblicato un aggiornamento di mercato riguardante comunicazioni non autorizzate effettuate da Quantum Metal Sdn Bhd, una società associata al direttore Dato Lim Khong Soon. L'azienda ha identificato due comunicazioni non autorizzate specifiche contenenti affermazioni fattualmente errate e potenzialmente fuorvianti:
1. Un video non autorizzato caricato su Facebook il 12 febbraio 2025, che affermava erroneamente "Studi confermati 3,3 milioni di once d'oro" presso il Bau Project (Jugan Hill Deposit). Besra chiarisce che la sua risorsa mineraria conforme al JORC è di circa 2,85 milioni di once (con 0,96 milioni di once a Jugan Hill).
2. Un avviso non autorizzato pubblicato sul sito web di Quantum Metal il 20 febbraio 2025, che dichiarava falsamente "la consegna di oro fisico a QM sarà completata entro tre anni dalla data di firma dell'accordo."
Besra ha richiesto la rimozione di queste comunicazioni e sta indagando sulle circostanze che circondano i trasferimenti CDI da Quantum Metal Recovery Inc.
Besra Gold Inc. (ASX: BEZ) ha emitido un comunicado de mercado abordando las comunicaciones no autorizadas realizadas por Quantum Metal Sdn Bhd, una empresa asociada con el director Dato Lim Khong Soon. La empresa identificó dos comunicaciones no autorizadas específicas que contenían afirmaciones factualmente incorrectas y potencialmente engañosas:
1. Un video no autorizado subido a Facebook el 12 de febrero de 2025, que afirmaba incorrectamente "Estudios confirmaron 3,3 millones de onzas de oro" en el Proyecto Bau (Jugan Hill Deposit). Besra aclara que su recurso mineral conforme a JORC es de aproximadamente 2,85 millones de onzas (con 0,96 millones de onzas en Jugan Hill).
2. Un aviso no autorizado publicado en el sitio web de Quantum Metal el 20 de febrero de 2025, que afirmaba falsamente "la entrega de oro físico a QM se completará dentro de tres años a partir de la fecha en que se firmó el acuerdo."
Besra ha solicitado la eliminación de estas comunicaciones y está investigando las circunstancias que rodean las transferencias CDI de Quantum Metal Recovery Inc.
Besra Gold Inc. (ASX: BEZ)는 이사 Dato Lim Khong Soon과 관련된 회사인 Quantum Metal Sdn Bhd가 만든 무단 커뮤니케이션에 대한 시장 업데이트를 발표했습니다. 회사는 사실적으로 부정확하고 잠재적으로 오해의 소지가 있는 두 가지 특정 무단 커뮤니케이션을 확인했습니다:
1. 2025년 2월 12일 페이스북에 업로드된 무단 비디오로, "연구 결과 330만 온스의 금이 확인되었다"고 잘못 주장했습니다. Besra는 실제 JORC 준수 광물 자원이 약 285만 온스 (Jugan Hill에서 96만 온스 포함)이라고 설명합니다.
2. 2025년 2월 20일 Quantum Metal 웹사이트에 게시된 무단 공지로, "QM에 대한 물리적 금의 배송은 계약 체결일로부터 3년 이내에 완료될 것"이라고 잘못 주장했습니다.
Besra는 이러한 커뮤니케이션의 삭제를 요청했으며 Quantum Metal Recovery Inc.의 CDI 전송과 관련된 상황을 조사하고 있습니다.
Besra Gold Inc. (ASX: BEZ) a publié une mise à jour du marché concernant des communications non autorisées faites par Quantum Metal Sdn Bhd, une société associée au directeur Dato Lim Khong Soon. La société a identifié deux communications non autorisées spécifiques contenant des déclarations factuellement incorrectes et potentiellement trompeuses :
1. Une vidéo non autorisée téléchargée sur Facebook le 12 février 2025, qui affirmait à tort "Des études ont confirmé 3,3 millions d'onces d'or" au projet Bau (Jugan Hill Deposit). Besra précise que sa ressource minérale conforme aux normes JORC est d'environ 2,85 millions d'onces (dont 0,96 million d'onces à Jugan Hill).
2. Un avis non autorisé publié sur le site de Quantum Metal le 20 février 2025, affirmant faussement "la livraison d'or physique à QM sera complétée dans les trois ans suivant la date de signature de l'accord."
Besra a demandé la suppression de ces communications et enquête sur les circonstances entourant les transferts CDI de Quantum Metal Recovery Inc.
Besra Gold Inc. (ASX: BEZ) hat ein Marktupdate veröffentlicht, das sich mit unbefugten Mitteilungen von Quantum Metal Sdn Bhd, einer mit dem Direktor Dato Lim Khong Soon verbundenen Firma, befasst. Das Unternehmen hat zwei spezifische unbefugte Mitteilungen identifiziert, die faktisch inkorrekte und potenziell irreführende Aussagen enthalten:
1. Ein unbefugtes Video, das am 12. Februar 2025 auf Facebook hochgeladen wurde und fälschlicherweise behauptete: "Studien bestätigten 3,3 Millionen Unzen Gold" im Bau-Projekt (Jugan Hill Deposit). Besra stellt klar, dass ihre tatsächlich JORC-konforme Mineralressource etwa 2,85 Millionen Unzen beträgt (davon 0,96 Millionen Unzen in Jugan Hill).
2. Eine unbefugte Mitteilung, die am 20. Februar 2025 auf der Website von Quantum Metal veröffentlicht wurde und fälschlicherweise behauptete: "Die Lieferung von physischem Gold an QM wird innerhalb von drei Jahren nach Unterzeichnung des Vertrags abgeschlossen sein."
Besra hat die Entfernung dieser Mitteilungen beantragt und untersucht die Umstände rund um die CDI-Übertragungen von Quantum Metal Recovery Inc.
- None.
- Unauthorized misleading communications about company resources and operations
- False claims about gold resources (3.3M oz vs actual 2.85M oz)
- Unauthorized statements about gold delivery timelines with no reasonable basis
- Potential internal governance issues with a director's associated company
Melbourne, Victoria, Australia--(Newsfile Corp. - February 24, 2025) - Besra Gold Inc (ASX: BEZ) (Besra or the Company) is aware of certain statements that have been made by Quantum Metal Sdn Bhd (Quantum Metals), a company associated with Dato Lim Khong Soon, a director of the Company, in relation to the Company and its business (Unauthorised Communications).
The Unauthorised Communications contain a number of statements in relation to the Company and its business that are factually incorrect and potentially misleading.
The Company has requested for the Unauthorised Communications to be removed, and for Quantum Metal to retract the statements made in the Unauthorised Communications.
Besra wishes to clarify the incorrect statements that were made in the Unauthorised Communications by providing the following corrections.
Unauthorised Video
The Company has become aware of a video that has been uploaded to Facebook on 12 February 2025 that was presented by a purported consultant to Quantum Metal's Philippines team (Unauthorised Video) which features:
Besra's logo;
footage taken at Besra's Malaysian office (referred to by Ms Escudero as "our office"); and
footage taken at Besra's Bau Project.
The Unauthorised Video was neither authorised by, nor prepared with the permission of, Besra.
The Unauthorised Video contains a number of factual inaccuracies and misleading statements with respect to Besra and its operations, including that "Studies confirmed 3.3 million ounces of gold" has been found at the Bau Project (Jugan Hill Deposit).
These statements are not factually accurate. The Company has established a JORC compliant mineral resource within the area covered by the Bau Project of approximately 2.85 million ounces (of which 0.96 million ounces relates to the Jugan Hill Deposit), details of which are set out below:
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3448/242231_df63f8a214415aa6_001full.jpg
In contrast it is noted that the video refers to the Jugan Hill Deposit and states that there is "3.3 million ounces of gold resource on this site alone". It is noted that the actual 2.85 million ounce resource is less than the 3.3 million ounces that has been presented in the Unauthorised Video. It is further misleading to state that studies confirm that that quantum of gold exists at the Bau Project, or can be commercially exploited by the Company.
The Company therefore wishes to confirm that it does not endorse the Unauthorised Video or the statements made in that video.
Unauthorised Notice
The Company is aware of a notice posted on Quantum Metal's website on 20 February 2025 titled "Clarification on Promissory Notes, Payment Timeline, and Regulatory Findings" (Unauthorised Notice).
The Unauthorised Notice was neither authorised by, nor prepared with the permission of, Besra.
The Unauthorised Post contains statements with respect to the Company and its operations that were not authorised by Besra's Board. These statements are factually inaccurate and misleading, in particular with respect to the statement that: "delivery of physical gold to QM will be completed within three years from the date the agreement was signed".
Such a claim has never been made by the Company and there is no reasonable basis for the Company to make such a claim. This results in statements with respect to promissory notes referred to in the Unauthorised Notice being backed by tangible assets to be both incorrect and misleading.
The Company therefore wishes to confirm that it does not endorse the Unauthorised Notice or the statements made in that notice.
Next steps
As is noted above, the Company has requested the relevant parties to remove the Unauthorised Communications and retract the incorrect statements that were made in the Unauthorised Communications.
The Company will continue to explore its options with respect to the above matters.
In addition to the above, the Board is investigating circumstances surrounding the transfer of CDIs from Quantum Metal Recovery Inc. In that regard, Dato Lim has confirmed that there has been no change of beneficial ownership of any CDIs held by Quantum Metal Recovery Inc and hence no Appendix 3Y is required.
The Company confirms that it is in compliance with listing rule 3.1.
This announcement was authorised for release by the Board.
Michael Higginson
Director and Company Secretary
The information in this announcement that relates to estimates of Mineral Resources has been extracted from the ASX release titled "March 2024 Quarterly Activities Report" dated 30 April 2024 available at www.besra.com.au (Resource Statement). For the purposes of ASX Listing Rule 5.23, the Company confirms that it is not aware of any new information or data that materially affects the information included in the Resource Statement and that all material assumptions and technical parameters underpinning the estimates in the Resource Statement continue to apply and have not materially changed.
N. America
James Hamilton
M 1-416-471-4494
E jim@besra.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/242231
FAQ
What unauthorized communications did Besra Gold (BESAF) address in its February 2025 market update?
How much gold resource does Besra Gold (BESAF) actually have at the Bau Project?
What action is Besra Gold (BESAF) taking regarding the unauthorized communications from Quantum Metal?
Who is associated with the unauthorized communications about Besra Gold (BESAF)?
What false claims were made about Besra Gold's (BESAF) gold delivery timeline?
