Besra Targeting Gold Mine Development in East Malaysia

Besra has released preliminary results from a feasibility study for Stage 1 of its Bau gold project in Sarawak, East Malaysia, on the island of Borneo. Besra is a Canadian company, headquartered in Toronto, and has producing gold mines in Vietnam. The Bau feasibility study specifically covers a proposed open-pit development at Jugan Hill toward the northeastern end of the Bau Central gold trend.

The study calls for an 8,000-mt/d ore processing rate to produce a total of about 460,000 oz of gold in concentrate over an initial mine life of about four years. Initial capital expenditure to develop the project is estimated at $92 million. A crush, grind, and flotation process would produce a gold-rich concentrate to be shipped for smelting and refining.

Besra CEO John Seton said, “The initial four-year mine life will be extended as nearby deposits are developed, utilizing existing plant and infrastructure, and having the effect of further improving the project economics. A Stage 2 pre-feasibility study has already commenced, incorporating southwesterly extensions of the Jugan Hill deposit and adjacent deposits. Stage 2 is expected to extend the mine life to 12 years, increase total production to more than 1 million oz, and should at least replicate or exceed the financial returns of Stage 1.”

As featured in Womp 2014 Vol 01 -