Ok. I see. Pilot plant construction is now expected in Q3. A...

Ok. I see. Pilot plant construction is now expected in Q3. A little disappointed but not surprised given we are only 2 weeks away from Q2. Still, we are miles ahead of SXG ($400mil MC fully diluted compared to BEZ's $60mil with off-take agreement and pre-payment deals signed).

One important piece of info that I think many of us have not paid attention to is: after the first 120k oz of gold delivery, BEZ only need to deliver maximum 65% of its gold production to the off-take agreement and leave us at least 35% of gold production to
sell to 3rd parties at much higher spot price. This is very important piece of details that i have missed. In fact i have been thinking about this for sometime.





BEZ can seek another off-take partner for this 35% gold production now if it chooses to do so (i guess it only needs to sign more off-takes if it needs more funding for CAPEX. If the money from QM is enough for CAPEX, then i dont see BEZ need to sign off-take). If BEZ sells that 35% gold production on spot market, it would deliver a very very handsome EXTRA profit to BEZ of which QUANTUM is a 30% shareholder. I am very happy to see this detail today. I will surely come back to this 35% gold production that BESRA can sell to spot market. It is a huge PLUS for BESRA. QUANTUM still receives 3mil oz but spread over a longer timeframe. 3mil oz is a gigantic amount of gold and is a mind-blowing amount of money (AUD $10bil at current gold price and God knows how much it is worth 5 years, 10 years later given gold price has grown at average 11% per year over the last 10-20 years.