Besra secures conditional lease renewal for Jugan deposit in Malaysia

Core Viewpoint - Besra Gold has received conditional approval from the Sarawak Government for the renewal of mining lease ML 05/2012/1D, which is crucial for the company's operations in the Bau Gold Project in East Malaysia [1] Group 1: Lease Renewal and Its Importance - The renewal of the mining lease ensures continuity of tenure over a key area for Besra's regional operations [1] - This renewal is a significant step in addressing risks associated with the company's plans for the Bau Gold Project [3] - The company aims to engage with local authorities to clarify the conditions of the lease renewal and align regulatory requirements with project planning [3][4] Group 2: Project Details and Historical Context - The Bau property is a brownfield project where Besra holds a 98.5% interest, adjusting to 93.8% on an equity basis, and has historically produced over three million ounces of gold [2] - Besra collaborates with a Malaysian company in a consortium that holds significant Bumiputra interests, covering much of the historic goldfield [2] Group 3: Strategic Implications and Future Plans - The lease renewal is viewed as a milestone that reduces project risk and is essential for advancing towards commercial development at Bau [5] - The company plans to allocate resources for systematic assessments across the Bau corridor to enhance its portfolio responsibly [5] - Besra expresses appreciation for the Sarawak Government's engagement and looks forward to ongoing dialogue regarding remaining renewal applications [6]