Besra Gold : Q3 2022 Financial Results in compliance with Canadian Filing

For personal use only

BESRA GOLD INC.

CONDENSED INTERIM CONSOLIDATED FINANCIAL

STATEMENTS

FOR THE THREE AND NINE MONTHS ENDED 31 MARCH

2022

(In United States dollars)

(Unaudited)

NOTICE TO THE READER

The accompanying unaudited interim consolidated financial statements of the Company have been prepared by and are the responsibility of management. The unaudited interim consolidated financial statements have not been reviewed by the Company's auditors.

For personal use only

BESRA GOLD INC.

Condensed Interim Consolidated Statement of Financial Position

	in USD		Notes			As at		As at
				31 March 2022		30 June 2021
	ASSETS
	Current
	Cash and cash equivalents					2,213,018	11,146
	Tax and other receivables					9,406	25,511
	Prepaid expenses					3		7,486
						2,222,427	44,143
	Non-current
	Property plant and equipment					3,434	14,235
	Exploration & evaluation	4			18,288,438	17,506,422
						18,291,872	17,520,657
	TOTAL ASSETS					20,514,299	17,564,800
	LIABILITIES
	Current
	Trade and other payables	5			699,862	5,538,254
	Derivative liability	7			-	21,778,785
	Loans and borrowings	6			240,776	4,793,593
						940,638	32,110,632
	Non-current
	Loans and borrowings	6			54,082	251,592
	TOTAL LIABILITIES					994,720	32,362,224
	EQUITY
	Issued capital	9			182,816,338	141,517,358
	Reserves	10		2,707,000	-
	Deficit					(165,128,983)	(154,874,482)
						20,394,355	(13,357,124)
	Non-controlling interest					(874,776)	(1,440,300)
	TOTAL EQUITY					19,519,579	(14,797,424)
	TOTAL LIABILITIES AND EQUITY					20,514,299	17,564,800

The accompanying notes are an integral part of these condensed interim consolidated financial statements.

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For personal use only

BESRA GOLD INC. Condensed Interim Consolidated Statement of Profit (Loss) and Comprehensive Profit (Loss)

	in USD	Note	Three Months to	Nine Months to
			31 March	31 March
			2022	2021	2022	2021
	Revenue		-	-	-	-
	Corporate and administrative
	expense		326,392	518,579	1,270,280	2,103,168
	Creditor settlements	5	-	-	(2,738,130)	-
	Exploration expense		173,400	14,601	70,019	(128,253)
	Depreciation and amortization		3,600	7,200	10,800	18,217
	Finance charges	11	-	31,630	(425,241)	142,512
	Derivative fair value revaluation		-	173,100	(593,230)	900,947
	Fair value loss on settlement of
	loans	6	-	-	4,609,328	-
	Share based payments	10	-	-	2,707,000	-
	LOSS BEFORE INCOME TAX		503,392	715,926	4,910,826	3,036,321
	Income tax (recovery)	8	-	-	-	-
	LOSS FOR THE PERIOD		503,392	715,926	4,910,826	3,036,321
	COMPREHENSIVE LOSS FOR
	THE PERIOD		503,392	715,926	4,910,826	3,036,321
	Comprehensive (profit) loss for the
	period attributable to:
	Shareholders of the parent		500,813	717,815	4,906,147	3,052,952
	Non-controlling interests		2,579	(1,889)	4,678	16,631
	Basic and diluted loss per share	12	0.002	0.003	0.019	0.012

The accompanying notes are an integral part of these condensed interim consolidated financial statements.

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For personal use only

BESRA GOLD INC.

Condensed Interim Consolidated Statement of Cash Flows

	in USD	Notes	Nine Months Ended		Nine Months Ended
			31 March 2022		31 March 2021
	OPERATING ACTIVITES
	Comprehensive Profit (loss) for the period		(4,910,826)		(3,036,321)
	Items not affecting Cash
	Creditor settlements	5	(2,738,130)		-
	Depreciation & amortization		10,800		18,217
	Fair value loss on settlement of loans	6	4,609,328		-
	Finances costs (recovered) charged		(869,676)		(2,742)
	Forex adjustments		(79,083)		-
	Derivative revaluation	13	(593,230)		900,947
	Share based payments	10	2,707,000		-
	Changes in non-cash working capital
	balances
	Trade and other receivables and other
	financial assets		23,588		2,484
	Trade and other payables		(1,763,267)		664,628
	Cash used in operating activities		(3,603,496)		(1,297,190)
	INVESTING ACTIVITIES
	Exploration and evaluation costs	4	(782,016)		-
	Cash used in investing activities		(782,016)		-
	FINANCING ACTIVITIES
	Proceeds from share capital	9	7,383,122		-
	Proceeds from financing loan	13	398,948		1,484,630
	Repayment of loans	13	(1,239,785)		(192,203)
	Cash provided by financing activities		6,542,284		1,292,427
	Increase in cash during the period		2,156,772		(4,763)
	Cash - beginning of the period		11,146		31,260
	Effect of exchange rate on cash		45,100	-	(830)1,130
	Cash - end of the period		2,213,018		25,667

The accompanying notes are an integral part of these condensed interim consolidated financial statements.

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For personal use only

BESRA GOLD INC.

Condensed Interim Consolidated Statement of Changes in Equity

	in USD			Issued	Reserves		Accumulated	Non-		Total Equity
						Capital			Losses	Controlling
										Interest
	Balance	at	1	July	141,517,358	-	(154,874,482)	(1,440,300)		(14,797,424)
2021
	Contributions from
	Owners				41,879,559	-	-	-	41,879,559
	Issue of share capital
	Share issue costs			(580,579)	-	-	-	(580,579)
	Total contributions		182,816,338	-	(154,874,482)	(1,440,300)	26,501,556
	from Owners
	Share based			-	2,707,000	-	-	2,707,000
	payments
	Adjustment for change	-	-	(570,202)	570,202	-
	in Minority Interest
	Acquisition of Minority	-	-	(4,778,150)	-	(4,778,150)
	Interest
	Total comprehensive	-	-	(4,906,147)	(4,678)		(4,910,826)
	profit (loss)
	Balance	at	31		182,816,338	2,707,000	(165,128,983)	(874,776)	19,519,579
	March 2022
	Balance	at	1	July 141,517,358	(20,563,257)		(121,011,748)	(1,425,108)		(1,482,755)
2020
	Comprehensive profit	-	-	(3,052,952)	16,631	(3,036,321)
	(loss)
	Balance at 31 March	141,517,358	(20,563,257)		(124,064,700)	(1,408,477)		(4,519,076)
2021

The accompanying notes are an integral part of these condensed interim consolidated financial statements.

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