Welcome!

News Feed Item

Besra Releases Stage One Feasibility Study for Bau Gold Project in East Malaysia

TORONTO, ONTARIO -- (Marketwired) -- 01/20/14 -- Besra (TSX: BEZ)(ASX: BEZ)(OTCQX: BSRAF)(FRANKFURT: OP6) today filed its feasibility study for Stage One of its Bau project in Sarawak, East Malaysia. The feasibility study specifically covers the proposed open pit development at Jugan Hill to the northeastern end of the Bau Central gold trend and proposes average annual production of 116,000 oz per year from late 2015.


----------------------------------------------------------------------------
----------------------------------------------------------------------------
Key Results
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Total Capital                                                $   134,878,000
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Initial Capital                                              $    92,119,690
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Ongoing Capital                                              $    42,758,310
----------------------------------------------------------------------------
----------------------------------------------------------------------------
@ Gold Price                                                 $         1,300
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Operating Cost/Ore Tonne                                     $         36.84
----------------------------------------------------------------------------
----------------------------------------------------------------------------
All-in Sustaining Cost per Ounce                             $      1,159.18
----------------------------------------------------------------------------
----------------------------------------------------------------------------
All-in Cost per Ounce (incl. Resale)                         $      1,101.71
----------------------------------------------------------------------------
----------------------------------------------------------------------------
NPV @ 8%                                                     $    48,323,190
----------------------------------------------------------------------------
----------------------------------------------------------------------------
IRR                                                                    25.4%
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Besra CEO, John Seton, said, "The release of the Stage One feasibility study confirms that this is an exciting and economically viable project. I'd also like to make it clear that this is only Stage One of a sizable multi-mine project with significant potential for expansion for many years to come. We have already commenced pre-feasibility studies on adjacent deposits to increase mine life to 10-years. The fifteen kilometer long Bau gold field is open along strike and at depth at almost every deposit." Bau is a historic goldfield, which has been intermittently mined at surface for the past 150 years. Past production from these shallow pits is estimated to be around 3 million ounces.

Since 2006, Besra has been consolidating mining tenure over approximately 350 sq km of the most prospective parts of the goldfield and systematically exploring multiple gold deposits and prospective zones. Current JORC/NI 43-101 resources stand at 21,285,300 tonnes @ 1.64 g/t Au for 1,124,900 ounces (measured + indicated) and 51,329,000 tonnes @ 1.32 g/t Au for 2,181,600 ounces (inferred). These resources reflect a low discovery cost of US$6.00 per ounce.


----------------------------------------------------------------------------
----------------------------------------------------------------------------
Resource Category                                  Tonnes (t)    Grade (g/t)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Measured                                            3,405,600           1.52
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Indicated                                          17,879,700           1.67
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Measured + Indicated                               21,285,300           1.64
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Inferred                                           51,329,000           1.32
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Exploration

Seton said, "Exploration remains at relatively early stage, with multiple deposits at various stages of exploration development and many prospective zones as yet entirely unexplored. Geological potential for substantially higher-grade mineralisation has also been identified at depth. The exploration success rate suggests that continued exploration has the potential to progressively expand resources and reserves over decades to come; with the potential to establish Bau as one of the major goldfields of Asia."

To view accompanying map, visit the following link: http://media3.marketwire.com/docs/BEZmap.jpg

Jugan Hill has been well defined through drilling to the current depths, the depth extent is less well defined and there remains open-ended potential to increase the resource beyond the current depth. Geophysical surveys and soil sampling campaigns have identified some nearby anomalies that will require further work and exploration/resource drilling.

The remainder of the Bau goldfield contains thirty-six prospects or known deposits which are at the Inferred level or have suitable geological potential requiring an extensive amount of follow up work and exploration or resource drilling. The goldfield also needs to be tested at depth below these deposits/prospects to fully understand the significant depth potential in line with the Carlin similarity model and concept.

Metallurgy and Process

Both the historical and recent Besra metallurgical test work on the Jugan ore deposit have demonstrated that the majority of the gold is associated with arsenopyrite and pyrite with the remaining gold present in silicious gangue material. The recovery of gold from the ore requires a gold pre-concentration step in a treatment flow sheet comprising crushing, grinding, desliming, and flotation to produce a high gold grade concentrate. For the base case and preferred option the flotation concentrate will be filtered to about 10% moisture, packaged and sent to an outside smelting or gold refining operation.

The sale of a flotation concentrates offers the lowest capital expenditure, and the lowest operating expenditure as well as the highest return on investment compared with treating concentrates on site.

As a result, significant savings will be made on capital costs and financing of the development should be attainable on more attractive terms. Besra is in discussions with Asian companies for a smelter off-take agreement, several of which have tested and confirmed their ability to process the concentrate. An indicative offer has already been received from one of the four smelters with more expected in the coming weeks.

Sarawak, Malaysia

East Malaysia provides an encouraging environment for mining and foreign investment with a 0% gold royalty and 24% corporate income tax rate. Additionally, the Bau project is located 40 km via good roads from a deep-water port in the Sarawak state capital of Kuching, and within 30 km of Kuching International Airport. High quality infrastructure and services already exist and there is a supportive and skilled English-speaking workforce with good education levels and significant mining or quarrying experience.

Once in production, the Bau project is estimated to be one of the top fifteen gold producing properties in Asia (ranked according to JORC/NI43-101 resources). By moving into production now, Besra can generate significant cash flow to further improve the gold field resources and reserves and take advantage of the opportunity for growth alongside the development of site infrastructure. Besra expects the property will ultimately assume a more prominent position as exploration continues to convert large-scale geological potential into resources.

A copy of the feasibility study may be downloaded from www.besra.com/bau.

Besra Gold Inc.

John A G Seton, Chief Executive Officer

Besra -www.besra.com

Besra is a diversified gold mining company focused on the exploration, development and mining of mineral properties in South East Asia. The Company has four key properties; the Bau Goldfield in East Malaysia, Bong Mieu and Phuoc Son in Central Vietnam, and Capcapo in the Philippines. Besra expects to expand existing gold capacity in Vietnam over the next two years and is projecting new production capacity from Bau Central during late 2015.

Cautionary Note Regarding Forward-Looking Statements

Certain of the statements made and information contained herein is "looking information"" within the meaning of applicable securities laws, including statements concerning our plans at our producing mines and exploration projects, which involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, failure to establish estimated resources or to convert resources to mineable reserves; the grade and recovery of ore which is mined varying from estimates; capital and operating costs varying significantly from estimates; delays in obtaining or failure to obtain required governmental, environmental, or other project approvals; changes in national and local government legislation or regulations regarding environmental factors, royalties, taxation or foreign investment; political or economic instability; terrorism; inflation; changes in currency exchange rates; fluctuations in commodity prices; delays in the development of projects; shortage of personnel with the requisite knowledge and skills to design and execute exploration and development programs; difficulties in arranging contracts for drilling and other exploration and development services; dependency on equity market financings to fund programs and maintain and develop mineral properties; and risks associated with title to resource properties due to the difficulties of determining the validity of certain claims and other risks and uncertainties, including those described in each management's discussion and analysis released by the Company. In addition, forward-looking information is based on various assumptions including, without limitation, the expectations and beliefs of management; the assumed long-term price of gold; the availability of permits and surface rights; access to financing, equipment and labour and that the political environment in the jurisdictions within which the Company operates will continue to support the development of environmentally safe mining projects. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements, which speak only as of the date they are made. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

Technical Information

The technical information in this press release has been prepared under the supervision of Mr Graeme Fulton who is a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM), a "Competent Person", as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserve" and a "Qualified Person" as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. Mr Fulton is a full-time consultant to the Company and is not "independent" within the meaning of National Instrument 43-101. Mr Fulton consents to the inclusion in this press release of the technical information, in the form, and context in which it appears.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to provide true leadership. As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership abi...
After more than five years of DevOps, definitions are evolving, boundaries are expanding, ‘unicorns’ are no longer rare, enterprises are on board, and pundits are moving on. Can we now look at an evolution of DevOps? Should we? Is the foundation of DevOps ‘done’, or is there still too much left to do? What is mature, and what is still missing? What does the next 5 years of DevOps look like? In this Power Panel at DevOps Summit, moderated by DevOps Summit Conference Chair Andi Mann, panelists l...
The essence of cloud computing is that all consumable IT resources are delivered as services. In his session at 15th Cloud Expo, Yung Chou, Technology Evangelist at Microsoft, demonstrated the concepts and implementations of two important cloud computing deliveries: Infrastructure as a Service (IaaS) and Platform as a Service (PaaS). He discussed from business and technical viewpoints what exactly they are, why we care, how they are different and in what ways, and the strategies for IT to transi...
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
What sort of WebRTC based applications can we expect to see over the next year and beyond? One way to predict development trends is to see what sorts of applications startups are building. In his session at @ThingsExpo, Arin Sime, founder of WebRTC.ventures, will discuss the current and likely future trends in WebRTC application development based on real requests for custom applications from real customers, as well as other public sources of information,
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
Historically, some banking activities such as trading have been relying heavily on analytics and cutting edge algorithmic tools. The coming of age of powerful data analytics solutions combined with the development of intelligent algorithms have created new opportunities for financial institutions. In his session at 20th Cloud Expo, Sebastien Meunier, Head of Digital for North America at Chappuis Halder & Co., will discuss how these tools can be leveraged to develop a lasting competitive advanta...
TechTarget storage websites are the best online information resource for news, tips and expert advice for the storage, backup and disaster recovery markets. By creating abundant, high-quality editorial content across more than 140 highly targeted technology-specific websites, TechTarget attracts and nurtures communities of technology buyers researching their companies' information technology needs. By understanding these buyers' content consumption behaviors, TechTarget creates the purchase inte...
With the introduction of IoT and Smart Living in every aspect of our lives, one question has become relevant: What are the security implications? To answer this, first we have to look and explore the security models of the technologies that IoT is founded upon. In his session at @ThingsExpo, Nevi Kaja, a Research Engineer at Ford Motor Company, will discuss some of the security challenges of the IoT infrastructure and relate how these aspects impact Smart Living. The material will be delivered i...
In his session at @ThingsExpo, Eric Lachapelle, CEO of the Professional Evaluation and Certification Board (PECB), will provide an overview of various initiatives to certifiy the security of connected devices and future trends in ensuring public trust of IoT. Eric Lachapelle is the Chief Executive Officer of the Professional Evaluation and Certification Board (PECB), an international certification body. His role is to help companies and individuals to achieve professional, accredited and worldw...
My team embarked on building a data lake for our sales and marketing data to better understand customer journeys. This required building a hybrid data pipeline to connect our cloud CRM with the new Hadoop Data Lake. One challenge is that IT was not in a position to provide support until we proved value and marketing did not have the experience, so we embarked on the journey ourselves within the product marketing team for our line of business within Progress. In his session at @BigDataExpo, Sum...