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@ronme, that is an awesome post, full of details and facts....

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02/01/24

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Originally posted by ronme: ↑

Andrew this is not a loan whereby you make set payments.
The agreement says amounts up to USD 10mio when they need it approximately monthly.
We have pointed out before that BEZ said they would like to update the JORC resource first from 3mio to something like 4 to 9 mio Oz and then update the feasibility study to make the mine more economically viable.
To date they have only conducted relatively shallow drilling. They want to drill deeper and see what's there below.
I have spoken to both BEZ and a resource ( geologist) analyst with 35 years mining experience from US gold mines in Indonesia and he backed up their rough assertion that they expect they would need about USD 200 to USD 250m to build an underground gold mine.
At present they only have a shallow gold resource which suggests an open pit mine which is much cheaper and shallower.
This is why I expect the current funds from Quantum are for the pilot plant and surrounding infrastructure and also to bring in several more diamond drill rigs to do heaps more drilling first.
Because as the founder of Quantum said at the meeting that Quantum have signed an MOU with the state government to build a JV owned gold refinery in Sarawak.
so both the state government and Quantum want BEZ and it's in their interests to first prove up more gold to make a mine and a gold refinery economically viable.
Everyone in Sarawak wants BEZ to be a big successful gold producer.
The Sarawak government has even said they want the proposed mine and refinery to be a tourist attraction for the state.
They are all working in unison to make this happen and Sarawak uses British legal law system being part of the commonwealth so no Vietnam type issues like what previously happened to BEZ version one 10 years ago.
Agreements are agreements in Malaysia and especially when the Chairman of Quantum is the previously retired chief of the Royal Malaysian police force or their version of the Federal police.

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@ronme, that is an awesome post, full of details and facts.

Cheers.

BEZ Price at posting: 14.5¢ Sentiment: Buy Disclosure: Held
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@ronme, that is an awesome post, full of details and facts....

Issues emerging as Australian companies tackle critical minerals challenge

Ragnar impressed by 11.55 metre pegmatite in Sweden, anticipating further mineralisation

Week 41 Wrap: HotCopper asks “Back to Mongolia?” for Elixir; US CPI comes in at 2.4%; eyes still on China

ASX Market Open: ASX200 to open flattish after Wall Street weakens on hot US inflation data | October 11, 2024

Defence MOU for propulsion systems pushes Aurora Lab shares higher

NRW Holdings inks $109M deal with BHP for works at Jimblebar

Cauldron Energy reports "excellent" uranium assays in latest drill run

Tigers Realm's US$49M sale of Russian assets – to a Kremlin-adjacent billionaire – set to go ahead

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Sunshine Metals kicks off copper gold drilling at Truncheon; Highway East targets

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@ronme, that is an awesome post, full of details and facts....

Top Stories

Issues emerging as Australian companies tackle critical minerals challenge

Ragnar impressed by 11.55 metre pegmatite in Sweden, anticipating further mineralisation

Week 41 Wrap: HotCopper asks “Back to Mongolia?” for Elixir; US CPI comes in at 2.4%; eyes still on China

ASX Market Open: ASX200 to open flattish after Wall Street weakens on hot US inflation data | October 11, 2024

Defence MOU for propulsion systems pushes Aurora Lab shares higher

NRW Holdings inks $109M deal with BHP for works at Jimblebar

Cauldron Energy reports "excellent" uranium assays in latest drill run

Tigers Realm's US$49M sale of Russian assets – to a Kremlin-adjacent billionaire – set to go ahead

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Sunshine Metals kicks off copper gold drilling at Truncheon; Highway East targets

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Buyers (Bids)

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