The
Under the terms of the GPA, the Company has agreed to sell to Quantum a quantity of refined gold from the
Pursuant to the Facility, Quantum has now committed to Besra a total of
As per the GPA, Besra is entitled to deploy the proceeds of the Facility for a variety of uses, including exploration, feasibility studies, mine development purposes and working capital. Commissioning of the pilot plant and updating the 2012 Bau Feasibility Study are Besra's primary objectives.
The Company reminds CDI holders that the Facility is not debt, is interest free and is expected to remove the need for dilutive equity financing and project/corporate debt that would encumber Besra with hedging requirements and/or onerous covenants.
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