Furthermore, it is in negotiations with four separate parties that have completed or are significantly advanced with due diligence on a variety of financing approaches. One proposal has been received with others expected imminently. No assurances can be given that the financing will proceed on terms acceptable to the Company, or at all. Financing would be subject to all necessary regulatory approvals including the
If a binding commitment for a fundraising is not entered into in the next month, the Directors will consider suspending operations until such a commitment is obtained. The Directors may also consider a formal restructuring of the Company under applicable insolvency legislation.
Dewatering of the flooded mine at its
Company representatives are meeting with its insurer's loss adjusters in
A full update on financial and operational performance will be issued to the markets next week in the form of the Company's Q3 2014.
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
Cautionary Note Regarding Forward-Looking Statements
Certain of the statements made and information contained herein is "Forward-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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Besra Gold Inc.James W HamiltonInvestor Relations +1 (416) 572 2525 Toll Free: 1 888 902 5522 ( North America) email@example.com Besra Gold Inc. Steve Wilson, Corporate Communications +64 9 9121765 Mobile: +64 21675660 Toll Free: 800 308 602 ( Australia) firstname.lastname@example.org Source: Besra Gold Inc.