Besra Delivers 3,438 Ounces of Gold to Redeem Fully Its Outstanding Gold Loan
TORONTO, ONTARIO -- (Marketwired) -- 06/04/13 -- Besra
(TSX:BEZ)(ASX:BEZ)(OTCQX:BSRAF)(FRANKFURT:OP6) - John Seton, Chief
Executive Officer of Besra, is pleased to announce that the Company
has made the final delivery of 3,438 ounces of gold under its Gold
Loan Notes settling a face value of approximately US$4.1 million.
The Gold Loan Notes matured on 31 May 2013, bearing an interest rate
of 8% per annum, and were secured by certain assets of the Company
(See Besra press release dated 21 June 2010). Note holders holding
approximately twenty-six percent (26%) of the outstanding principal
amount of original gold loan notes converted to the 8% Gold-Linked
notes, which will mature two years later on 6 May 2015.
Seton stated, "The gold loan was an innovative financing for some of
the capital costs for development of our Phuoc Son property in
Vietnam whilst avoiding a potentially large equity dilution. With
paying off the outstanding gold loan, we have simplified our debt,
and strengthened our balance sheet going forward."
Besra (www.besra.com) is a diversified gold company focused on four
advanced 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 production capacity in Vietnam
over the next two years and is projecting new production capacity
from Bau Central during late 2015 (start up and production forecasts
will depend on the result of the current Jugan feasibility, which is
scheduled for completion in 2013).
John A G Seton, Chief Executive Officer
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 labor 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.
Besra Gold Inc.
James W Hamilton
Vice-President Investor Relations
+1 (416) 572 2525
+1 (416) 572 4202 (FAX)
TF: 1 888 902 5522 (North America) / 800 308 602 (Australia)
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