HIGHLIGHTS

Cash of A$30.27m at 31 March 2023, with the recommencement of further payments by Quantum under the US$300m Gold Purchase Agreement (GPA) expected to re-commence in June/July 2024.
The December 2023 US$9.8m deposit is to be paid by Quantum in May 2024 following the anticipated opening of US$ bank account in Australia and the deposit will be adjusted so that the weighted average gold price for the $US9.8m reflects current gold prices.
Current cash position more than satisfies the funding requirements to complete the Jugan Definitive Feasibility Study (DFS) (being initiated in the second half of 2024), including the construction, commissioning and operation of the Pilot Plant, as well as pre- development activities in other key Bau Gold Field corridor concessions.
First shipment of processing equipment for the Jugan Pilot Plant has arrived from Yantai-Jinpeng’s foundry and the second shipment is scheduled to depart China in May 2024.
Lodgement of renewals and transfer of concessions to reflect Besra’s 98.5% beneficial ownership of Bau Corridor concessions are being finalised.
Free-gold discovered for the first time in Bekajang’s BKDDH-27, now found in a further 3 drill holes.
Drilling results highlight potential for wider styles of mineralisation within the Jugan precinct, including potential deeper regional gold mineralisation.
The merit of recently commenced infill and sterilisation drilling programs at Jugan has indicated both potential additional mineralisation and sterilised designated areas.
Innovative mining techniques, including the introduction of AI, water management and conservation and green mining practices to co-exist with tourism and urbanisation at Bau
The Board of Besra Gold Inc (ASX: BEZ) (Besra or the Company) is pleased to provide this Quarterly Activities Report for the Quarter ended 31 March 2024 (Quarter), which accompanies the Quarterly Cash Flow Report.

Jugan Project

Concentrate Beneficiation

Stage 2 of bulk sample processing of mineralisation from the Jugan Project site continued during the Quarter, following a review of the Stage 1 results and amendments to the scope of works. As outlined in an ASX announcement dated 22 December 2023[1], bulk samples of mineralisation from the Jugan Project site were processed at a third-party facility, selected for its capability to process similar style refractory gold mineralisation as found at Jugan. Results from the Stage 2 testing are expected towards the end of the June quarter 2024.

Consistent with Besra’s preference to ultimately value-add to the Jugan Project by producing its own dore? gold, the Company has also despatched concentrate samples to an internationally recognised service provider for bio-oxidation trials, with initial results anticipated within 3-4 months.

Separately, Sheyang Florrea Chemical’s Indonesian subsidiary has been engaged to undertake reagent trials of representative bulk samples of Jugan mineralisation. Reagents are used to preferentially enhance and/or suppress target elements to optimise gold concentrate composition, which has an important bearing on the concentrate’s market value by minimising “penalty element” price reductions including for excess concentrations of elements such as arsenic and mercury.

These independent, off-site, metallurgical studies will provide results over the coming months which should benefit and enable the fast-tracking of processing trials at the Jugan Pilot Plant once it is commissioned

Jugan Pilot Plant Activities

see & read more on
https://www.besra.com/march-2024-quarterly-activities-report-2/