Overview of ASX response by Besra Gold Inc

Besra Gold Inc (ASX: $BEZ) has responded to ASX queries regarding the remittance of US$9,827,854.60 by Quantum pursuant to the terms of the Gold Purchase Agreement (GPA) as disclosed in BEZ's 28 December 2023 announcement. The company confirmed that the remittance is considered information that a reasonable person would expect to have a material effect on the price or value of its securities.

Executive Commentary on ASX Queries

The company has confirmed that the delay in the remittance of the December Quantum GPA Instalment was monitored on a daily basis, and the market was informed of the delay in the March 2024 Quarterly Activities/Appendix 5B Cash Flow Report. Quantum has indicated progress in opening the necessary accounts and has committed to remitting the US$9.8m in May 2024, subject to the opening of a US$ bank account in Australia.

Summary of ASX Response and Outlook

Besra Gold Inc has acknowledged the significance of the remittance of funds from Quantum and has provided detailed responses to ASX queries. The company has outlined the ongoing delays and the steps taken to inform the market promptly. Looking ahead, the company anticipates the remittance of the US$9.8m in May 2024, contingent upon the successful opening of an Australian US$ bank account by Quantum. Besra Gold Inc remains committed to complying with the Listing Rules and ensuring timely and accurate disclosure of information.