Core Viewpoint - Besra Gold Inc. has issued a statement addressing misleading claims made by Quantum Metal Recovery Inc., emphasizing that Quantum's actions could harm shareholder value and that Besra's independent directors are exploring legal options to counter these misrepresentations [1][2]. Group 1: Misrepresentations and Legal Actions - Quantum has allegedly made material misrepresentations regarding Besra's operations and the status of the Bau Gold Project, which is not yet a producing mine [3][4]. - The lawsuit initiated by Quantum claims that Besra's board has acted oppressively towards Quantum's interests, despite Quantum's nominees having significant representation on the board [4][6]. - Besra's independent directors are concerned about Quantum's attempts to remove them, which they believe could lead to irreversible damage to shareholder value [1][2]. Group 2: Financial Obligations and Project Delays - Quantum has failed to remit funds under the gold purchase agreement (GPA), with a payment of approximately US$9.83 million due in December 2023 not received, leading to legal action from other shareholders [9]. - The renewal of Besra's mining tenements has been delayed, impacting the development of the Bau Gold Project, although renewals were initiated in 2024 [9][10]. Group 3: Governance and Shareholder Meeting - The upcoming special meeting of shareholders is scheduled for June 24, 2025, where critical decisions regarding board composition and governance will be made [2][22]. - Besra's independent directors are urging shareholders to vote against Quantum's nominees and to support the removal of Dato' Lim Khong Soon from the board [21][27]. Group 4: Quantum's Compliance Issues - Quantum has been accused of disregarding corporate and securities laws, including failing to comply with insider reporting obligations despite owning approximately 29.88% of Besra's voting securities [14][16]. - The Securities Commission of Malaysia has previously directed Quantum to cease offering its securities to the public due to legal violations [14].