Besra Gold Stock Price, News & Analysis

Besra Gold Inc. (BESAF) has issued a statement addressing misleading claims made by Quantum Metal Recovery Inc. The company criticizes Quantum's pattern of disregarding corporate laws and securities regulations. Key issues include Quantum's failure to remit $9.8M in promised funding by December 2023, unauthorized promotional videos making false claims about Besra's mining operations, and non-compliance with insider reporting obligations. Besra's mining tenements await renewal, preventing project development. The company faces a special shareholder meeting on June 24, 2025, where Quantum seeks to remove independent directors. Besra's board questions the qualifications of Quantum's nominated directors and warns that Quantum's actions risk destroying shareholder value. The company urges shareholders to vote for removing Dato' Lim Khong Soon as director and against Quantum's proposed board changes.

Besra Gold Inc. (ASX: BEZ) has announced a Special Meeting scheduled for June 24, 2025, at 11:30 am Sydney time, to be held at Hall Chadwick, Level 40, 2 Park Street, Sydney. The company is distributing Notice of Special Meeting documents to all shareholders and CDI holders, who are encouraged to participate in voting using either Proxy Forms or CDI Voting Instruction Forms. The recently appointed Chairman, David Potter, is available for contact regarding the meeting. The company has provided access to meeting documents through their website and included contact information for both the Company Secretary and North American representative.

Besra Gold Inc (ASX: BEZ) announced the resignation of Director Chang Loong Lee (Kenny Lee) from the company's Board. Lee, who had served as Director since September 2023, submitted his resignation citing the need to make way for a new Director who could potentially strengthen the Board. The newly appointed Chair, David Potter, acknowledged Lee's integrity in making this independent decision in the best interest of shareholders. Following this change, Besra's Board now consists of four Non-Executive Directors: David Potter (Chair), Jon Morda, Sean Williamson, and Dato' Lim Khong Soon.

Besra Gold Inc. (ASX: BEZ) has announced significant board changes with the appointment of two new independent directors. David Potter joins as the new Non-Executive Chair, bringing over 30 years of resource sector experience, while Sean Williamson, a corporate and securities lawyer, joins as Non-Executive Director. Jon Morda steps down as interim Chair but remains a Non-Executive Director, while Michael Higginson resigns as Director but continues as Chief Corporate Officer and Company Secretary.

Potter, with extensive operational and corporate experience, highlighted Besra's undervalued position, noting its 2.8Moz JORC-compliant gold resources and A$20m cash backing against a modest market cap of A$18m. He plans to focus on developing the Jugan deposit and improving relationships with Sarawak authorities. Williamson brings valuable experience from roles at Dundee Precious Metals and Iamgold, focusing on corporate governance and legal expertise.

Besra Gold Inc. (BESAF) has announced the postponement of its special shareholders' meeting from May 26, 2025, to June 23, 2025. The meeting was initially called to consider the removal of Dato Lim Khong Soon from the Board. In response, Quantum Metal Recovery Inc, controlled by Lim, has requested a separate shareholders' meeting to remove all directors except Lim and elect three new nominees.

The Board's decision to postpone the meeting aims to provide additional time for potential engagement with Quantum and to avoid a potential proxy contest. The record date for shareholder voting eligibility remains at 5:00 pm Melbourne time on May 5, 2025. Norton Rose Fulbright Canada LLP is serving as legal counsel to Besra for the Special Meeting.

Besra Gold Inc. (ASX: BEZ) has released its March 2025 Quarterly Activities Report, highlighting significant progress in the Jugan Bankable Feasibility Studies. The company reports several key developments: completion of an independent mineral resource estimate (MRE), accelerated drilling operations using two rigs for metallurgical and geotechnical core samples, and the dispatch of samples to specialized laboratories in Perth, Jakarta, and Newcastle for analysis. Additionally, Besra is conducting a strategic review of emerging and next-generation processing and tailings solutions for potential future implementation.

Besra Gold Inc. (ASX: BEZ) has released an announcement regarding an updated independent mineral resource estimate for its Jugan Project. The company has directed stakeholders to access the complete announcement through their official website, where detailed information about the resource estimate can be found.

Besra Gold Inc. (ASX: BEZ) has announced the adoption of an advance notice by-law for director nominations by shareholders. The by-law establishes a clear framework requiring shareholders to submit director nominations at least 30 days before annual meetings (40 days for notice and access cases), or 10 days after the first public announcement if the meeting is less than 50 days away.

For special meetings, nominations must be submitted within 15 days of the first public announcement. The company has postponed its Special Meeting from May 8 to May 26, 2025 (May 27 in Australia), with a record date of April 1, 2025. The Board will waive the nomination deadline until April 11, 2025, to ensure shareholders are not disadvantaged by the new by-law.

The by-law requires shareholder approval at the upcoming Special Meeting to remain effective, needing a majority vote for confirmation.

Besra Gold Inc (ASX: BEZ) acknowledged receipt of an ASX price query letter dated March 17, 2025. The company has indicated that a response to the questions raised in the ASX letter is available on their website. No specific details about the nature of the price query or the company's response were provided in the press release.