Besra Announces Temporary Suspension of Bong Mieu Mine Operations
TORONTO, ONTARIO -- (Marketwired) -- 11/18/13 -- Besra
(TSX:BEZ)(ASX:BEZ)(OTCQX:BSRAF)(FRANKFURT:OP6) today announced the
temporary suspension of its operations at Bong Mieu in central
Vietnam from 14.00 on 16th November 2013.
The Company has had to suspend operations after several landslides
cut roads between the site and the provincial capital of Tam Ky,
preventing employees and supplies from accessing the site.
The main transport road within the site has also suffered substantial
damage and is presently unusable.
The landslides and road closures are a direct result of extremely
heavy rains caused by two typhoons that have passed over or near
central Vietnam in the last month. Typhoon Nari hit Da Nang City on
15 October and more recently tropical storm Haiyan (formerly Super
Typhoon Haiyan) passed by the central coast around 10th November.
Heavy rainfall from Tropical Depression Podul that passed through the
province on 15 November also caused widespread flooding in Quang Nam
Because of the extent of the damage, the Company is unable to give a
definite date when operations will recommence. It is working with
local authorities and will provide further information as it becomes
available. In the meantime, the Company is investigating cover under
its production interruption insurance.
Besra Gold Inc
John A G Seton, Chief Executive Officer
Besra - www.besra.com
Besra 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).
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.
Besra Gold Inc.
James W Hamilton
+1 (416) 572 2525 or TF: 1 888 902 5522 (North America)
+1 (416) 572 4202 (FAX)
Besra Gold Inc.
+64 9 9121765 or TF: 800 308 602 (Australia)
M: +64 21675660
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