Besra Gold (ASX:BEZ) has signed a non-binding term sheet for a US$300M gold offtake facility with Quantum Metal Recovery, which the company believes to be one of the largest deals of its kind signed by an ASX listed junior.
Post-completion, the facility provides Besra with the money paid over a 30-month period against future production ounces, fully funding production at the Bau goldfield in Malaysia, and the appraisal of other deposits within the Bau corridor.
Quantum Metal Recovery is one of the largest gold distributors in Malaysia in its capacity as a bullion dealer, linking bullion buyers and sellers.
Besra Gold says the transaction should be completed within the 2nd quarter CY23.