South East Asia-based gold mining company Olympus Pacific Minerals has made a major change to its future direction, adopting a new name to more appropriately refer to the region in which it operates. The company will now be known as Besra Gold.
“The Besra is a bird of prey indigenous to South East Asia - a tenacious, fast flying hawk with acute vision. These are traits to which we as a company aspire”, says the company’s chief executive officer John Seton.
“We are embarking on a new key stage of our development plan. We’ve already successfully made the shift from exploration to producer and our two operating gold mines in Vietnam are continuing to deliver ounces, we’re increasing throughput and achieving higher recovery rates.”
Besra says it is committed to bringing its Bau goldfield project in East Malaysia online in the goal of becoming a significant gold producer. In September the company confirmed an intersection measuring 24.5 metres @ 7.15 grams/tonne gold from 317.5 metres at the project’s Jugan Hill deposit, adding further expectations of high gold grades at depth.
The same drill hole also intersected 11.5 metres @ 10.42 grams/tonne gold from 320 metres down-hole. Other highlights included 2 metres @ 5.23 grams/tonne gold from 251 metres and 7 metres @ 2.7 grams/tonne gold from 111 metres. Jugan Hill is one of several known gold deposits within the historic Bau goldfield.
“We’ve got a great team, we’ve got great projects and we’re about to take flight. Bau is going to be a game changer for us. We believe Besra is truly an exciting opportunity for investors looking for undervalued growth companies in the gold sector,” says John Seton.
He says the company felt it was on the verge of a bold expansion and the name-change coincided with strategic plans to evolve into a major player in the gold sector.