BEZ: Annual Information Form
Original announcement by asx on
- Company
- Besra Gold Inc.
- Ticker
- BEZ
- Exchange
- ASX
- Region
- Sarawak, East Malaysia
- Primary commodity
- Gold
- Secondary commodities
- Arsenic, Antimony, Sulfur
- Document categories
- Resource update, Metallurgy, Other
- Extracted
- 2026-09-29 17:16:31 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Besra Gold Inc. has released its Annual Information Form for the year ended June 30, 2026, detailing its operations, financial position, and risks. The company reported an updated Mineral Resource Estimate for its Bau Gold Project in Malaysia, totaling 2.28 million ounces of gold, which reflects a decrease in total contained gold but an increase in measured resources and overall grade. Key mining lease ML 05/2012/1D for the Jugan deposit received conditional renewal. However, the company faces ongoing challenges including a cease trade order, multiple legal proceedings, and uncertainties regarding funding from its major shareholder, Quantum.
Reasoning: The Annual Information Form presents a mixed outlook, with positive resource updates and permitting milestones offset by a reduction in overall contained gold, significant legal and regulatory challenges, and funding uncertainties. The refractory nature of the ore and limited recent metallurgical testwork also pose technical risks.
Positive factors
- Updated Mineral Resource Estimate for the Bau Gold Project, increasing measured resources and overall grade.
- Conditional renewal of key mining lease ML 05/2012/1D for the Jugan deposit.
- Compliance with NI 43-101 and JORC 2012 reporting standards.
Negative factors
- Overall decrease in total contained gold and tonnage in the Bau Gold Project MRE.
- Significant portion of resources remain in the Inferred category across multiple deposits.
- Ongoing cease trade order (CTO) from the Ontario Securities Commission.
- Multiple legal proceedings against the company and its directors.
- Uncertainty regarding future funding from major shareholder Quantum due to insolvency proceedings.
- Refractory nature of gold mineralization requiring complex processing routes.
- Metallurgical testwork primarily based on modelling or historical bench-scale tests, with no recent follow-up studies.
Facts used in scoring: 26
Classification and evidence
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The AIF states that disclosure regarding mineral properties was prepared in accordance with National Instrument 43-101.
Evidence · text
“Disclosure regarding the Company’s mineral properties, including with respect to mineral reserve and mineral resource estimates included in this AIF, was prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).”
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: The Mineral Resource classification for the Bau Gold Project is in accordance with the 2012 Edition of the JORC Code.
Evidence · text
“The Mineral Resource classification has been reviewed and the MRE has been classified in the Measured, Indicated and Inferred categories in accordance with the 2012 Edition of the Joint Ore Reserves Committee (“JORC”) Code.”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The MREs were completed by independent consultant Widenbar & Associates Pty Ltd.
Evidence · text
“The MRE was completed by independent consultant Widenbar and reflects more current and representative estimation assumptions”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: Cut-off grades for open pit, crown pillar, and underground material are clearly stated for the Bau Gold Project MRE.
Evidence · text
“Open pit material uses a 0.3 g/t Au cutoff, crown pillar a 0.6 g/t and underground has a cut-off of 1.2 g/t.”
Category Upgradepositive
Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal.
Why it applies: The updated MRE for the Bau Gold Project delivers an increase in the measured resource.
Evidence · text
“The updated MRE represents a decrease in the total contained gold and tonnage, however, it delivers an increase in both the measured resource and the overall grade.”
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: The updated MRE for the Bau Gold Project delivers an increase in the overall grade.
Evidence · text
“The updated MRE represents a decrease in the total contained gold and tonnage, however, it delivers an increase in both the measured resource and the overall grade.”
Contained Metal Declinenegative
Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.
Why it applies: The updated MRE for the Bau Gold Project represents a decrease in the total contained gold.
Evidence · text
“The updated MRE represents a decrease in the total contained gold and tonnage, however, it delivers an increase in both the measured resource and the overall grade.”
Tonnage Declinenegative
Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down.
Why it applies: The updated MRE for the Bau Gold Project represents a decrease in total tonnage.
Evidence · text
“The updated MRE represents a decrease in the total contained gold and tonnage, however, it delivers an increase in both the measured resource and the overall grade.”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: A significant portion of the Bau Gold Project's total resource (40.5 Mt) is classified as Inferred.
Evidence · table
“40.5”
Context: Inferred
All Inferrednegative
100% of resource is Inferred category — very early stage, no engineering confidence.
Why it applies: The Sirenggok, Pejiru-Bogag, Pejiru Extension, Kapor, and Boring deposits are entirely classified as Inferred resources.
Evidence · text
“Widenbar (2025) noted all mineralised blocks at Sirenggok have been classified in the Inferred category... Widenbar (2025) noted that all mineralised blocks at Pejiru have been classified Inferred category”
Refractory Orenegative
Ore requires oxidation/pressure treatment before recovery — a processing and recovery risk.
Why it applies: The gold mineralization across Sirenggok, Bekajang, and Pejiru deposits is described as sub-microscopic and refractory, requiring oxidative pre-treatment.
Evidence · text
“Gold is overwhelmingly sub-microscopic (refractory) hosted preferentially in arsenopyrite... Direct whole-ore cyanidation is not viable for Bekajang due to refractory/sub-microscopic Au... Gold occurs as sub-microscopic (refractory) and fine native gold”
Bench Scale Onlynegative
Only preliminary bench tests completed — no locked-cycle or pilot work.
Why it applies: Metallurgical testwork for Sirenggok and Bekajang is based on modelling, and Pejiru relies on historical bench-scale leach tests with no recent follow-up studies.
Evidence · text
“Modelling indicates high flotation recoveries (~94%) for Sirenggok... AMTEL’s modelling indicates (order-of-magnitude) flotation recoveries in the ~41–65% range for Bekajang... AMTEL’s whole-ore NaCN leach on Pejiru material returned ~40–50% extraction... No recent follow-up metallurgical and processing studies have been undertaken.”
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document announces an updated Mineral Resource Estimate for the Bau Gold Project.
Evidence · text
“On 21 October 2025, the Company announced an updated MRE for the Bau Gold Project of 53.0 million tonnes at 1.3 g/t gold, containing approximately 2.28 million ounces of gold.”
Permitting Risknegative · Story-specific tag
No canonical definition is currently available.
Why it applies: The renewal of mining lease ML 05/2012/1D is conditional, and discussions are ongoing for other concessions, indicating potential permitting delays or changes.
Evidence · text
“On 25 February 2026 the Company announced that mining lease ML 05/2012/1D, concerning the Jugan deposit, would be conditionally renewed by the Sarawak Government for a three-year term, with details of the renewal conditions to follow. ... Discussions continue with Sarawak Government authorities involving concession management and renewal processes for the Company’s interests elsewhere along the Bau Goldfield Corridor”
Legal Proceedingsnegative · Story-specific tag
No canonical definition is currently available.
Why it applies: The company is involved in multiple legal proceedings, including claims of oppression and breach of fiduciary duties.
Evidence · text
“On 27 September 2024, the Board advised that the Company has received a Statement of Claim in respect of the commencement of legal proceedings in the Superior Court of Justice (Commercial List) (Ontario) against Besra along with other defendants”
Cease Trade Ordernegative · Story-specific tag
No canonical definition is currently available.
Why it applies: A cease trade order was issued by the OSC against the Company due to late filing of interim financial statements.
Evidence · text
“On 21 February 2025, the Ontario Securities Commission (“OSC”) issued a cease trade order (“CTO”) in respect of Besra’s securities due to the late filing of interim financial statements and related management’s discussion and analysis for the period ended 31 December 2024”
Funding Risknegative · Story-specific tag
No canonical definition is currently available.
Why it applies: No funds have been received under the Gold Purchase Agreement since November 2023, and there are uncertainties due to Quantum Group insolvency proceedings.
Evidence · text
“Besra received no further drawdowns from Quantum under the GPA during the fiscal year, cumulative deposits received remained at US$25,646,326. ... No amounts have been received pursuant to the GPA since the Company’s receipt of $10,646,326 from Quantum pursuant to the GPA in November 2023.”
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: the document describes a mill_cil route ("CIL")
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: the document describes a gravity route ("gravity")
POX/BIOX Routeneutral
Pressure or bio-oxidation for refractory ore — high CAPEX and OPEX.
Why it applies: the document describes a pox_biox route ("POX")
Single Domain Onlynegative
Testing limited to one composite or domain — representativeness not established.
Why it applies: only one composite was tested
Extracted facts
Stored fact records: 26. Some facts used in scoring do not have a stored record.
Resource Estimates (23)
measuredBau Gold Project · goldTonnes: 3900000Grade: 1.68Grade Unit: g/tContained Metal: 209000Contained Unit: ozView all detailsHide details
Identity
- Project
- Bau Gold Project
- Commodity
- gold
- Region
- sarawak, east malaysia
- Reported Region
- Sarawak, East Malaysia
- Ticker
- BEZ
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Widenbar & Associates Pty Ltd
- Resource group id
- resource:344a5634fea7f8bb0d8d
- Mining method
- combined
Resource Data
- Category
- measured
- Tonnes
- 3900000
- Grade
- 1.68
- Grade Unit
- g/t
- Contained Metal
- 209000
- Contained Unit
- oz
- Cutoff Grade
- 0.3
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-21
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-28T00:00:00.000Z
Reasoning: The Measured resource category indicates high geological confidence and forms a robust basis for future economic studies, contributing positively to the project's de-risking.
Positive factors
- Highest confidence category (Measured) for a significant portion of the resource.
- Grade of 1.68 g/t Au is strong for an open pit scenario.
- Part of an updated MRE that increased overall grade and measured resources.
Evidence · table
“1.68”
Context: 3.9
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: The resource is classified as Measured, indicating the highest level of geological confidence.
Evidence · table
“3.9”
Context: Measured
indicatedBau Gold Project · goldTonnes: 8700000Grade: 1.67Grade Unit: g/tContained Metal: 467000Contained Unit: ozView all detailsHide details
Identity
- Project
- Bau Gold Project
- Commodity
- gold
- Region
- sarawak, east malaysia
- Reported Region
- Sarawak, East Malaysia
- Ticker
- BEZ
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Widenbar & Associates Pty Ltd
- Resource group id
- resource:14df22646550336f14ff
- Mining method
- combined
Resource Data
- Category
- indicated
- Tonnes
- 8700000
- Grade
- 1.67
- Grade Unit
- g/t
- Contained Metal
- 467000
- Contained Unit
- oz
- Cutoff Grade
- 0.3
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-21
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-28T00:00:00.000Z
Reasoning: The Indicated resource category supports mine planning and economic viability assessments, representing a good level of confidence for the project.
Positive factors
- Indicated resource category provides reasonable geological confidence for mine planning.
- Grade of 1.67 g/t Au is strong for an open pit scenario.
- Part of an updated MRE that increased overall grade and measured resources.
Evidence · table
“1.67”
Context: 8.7
inferredBau Gold Project · goldTonnes: 40500000Grade: 1.24Grade Unit: g/tContained Metal: 1609000Contained Unit: ozView all detailsHide details
Identity
- Project
- Bau Gold Project
- Commodity
- gold
- Region
- sarawak, east malaysia
- Reported Region
- Sarawak, East Malaysia
- Ticker
- BEZ
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Widenbar & Associates Pty Ltd
- Resource group id
- resource:e1249f27a08699b9b75d
- Mining method
- combined
Resource Data
- Category
- inferred
- Tonnes
- 40500000
- Grade
- 1.24
- Grade Unit
- g/t
- Contained Metal
- 1609000
- Contained Unit
- oz
- Cutoff Grade
- 0.3
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-21
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-28T00:00:00.000Z
Reasoning: While the Inferred resource adds to the overall contained metal, its lower confidence level means further drilling is required to upgrade it to higher categories before it can be fully incorporated into economic studies.
Positive factors
- Significant tonnage in the Inferred category indicates future exploration potential.
- Part of an updated MRE that increased overall grade and measured resources.
Negative factors
- Inferred category has lower geological confidence and cannot support economic studies alone.
Evidence · table
“1.24”
Context: 40.5
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“40.5”
Context: Inferred
Fact 4Bau Gold Project · goldTonnes: 53000000Grade: 1.3Grade Unit: g/tContained Metal: 2285000Contained Unit: ozView all detailsHide details
Identity
- Project
- Bau Gold Project
- Commodity
- gold
- Region
- sarawak, east malaysia
- Reported Region
- Sarawak, East Malaysia
- Ticker
- BEZ
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Widenbar & Associates Pty Ltd
- Resource group id
- resource:3b3e897a4b31fae82ca9
- Mining method
- combined
Resource Data
- Tonnes
- 53000000
- Grade
- 1.3
- Grade Unit
- g/t
- Contained Metal
- 2285000
- Contained Unit
- oz
- Cutoff Grade
- 0.3
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-21
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-28T00:00:00.000Z
Reasoning: The updated total resource provides a comprehensive overview, but the reduction in contained metal and tonnage, despite grade improvement, indicates a mixed outcome for the project's overall scale.
Positive factors
- Updated MRE provides a current baseline for the project.
- Increase in overall grade and measured resources is a positive development.
Negative factors
- Overall decrease in total contained gold and tonnage compared to prior estimates.
- Significant portion of the resource remains in the Inferred category.
Evidence · text
“On 21 October 2025, the Company announced an updated MRE for the Bau Gold Project of 53.0 million tonnes at 1.3 g/t gold, containing approximately 2.28 million ounces of gold.”
Tags used in scoring
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document announces an updated Mineral Resource Estimate for the Bau Gold Project.
Evidence · text
“On 21 October 2025, the Company announced an updated MRE for the Bau Gold Project of 53.0 million tonnes at 1.3 g/t gold, containing approximately 2.28 million ounces of gold.”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredBau Gold Project · goldTonnes: 8630000Grade: 0.99Grade Unit: g/tContained Metal: 275400Contained Unit: ozView all detailsHide details
Identity
- Project
- Bau Gold Project
- Commodity
- gold
- Region
- sarawak, east malaysia
- Reported Region
- Sarawak, East Malaysia
- Ticker
- BEZ
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Widenbar
- Resource group id
- resource:ed3c2e096f667c8615ec
- Deposit or zone
- Sirenggok
- Mining method
- combined
Resource Data
- Category
- inferred
- Tonnes
- 8630000
- Grade
- 0.99
- Grade Unit
- g/t
- Contained Metal
- 275400
- Contained Unit
- oz
- Cutoff Grade
- 0.3
- Cutoff Unit
- g/t
Prior Estimate
- Resource Date
- 2025-10-21
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-28T00:00:00.000Z
Reasoning: The Sirenggok deposit, while contributing to the overall resource, is entirely in the Inferred category with moderate grade, suggesting it requires significant further work to increase confidence and economic viability.
Positive factors
- Contributes to the overall Bau Gold Project resource base.
Negative factors
- All mineralized blocks are classified as Inferred, indicating low confidence.
- Relatively limited downhole survey and density data preclude higher classification.
- Grade of 0.99 g/t Au is moderate for an open pit scenario.
Evidence · table
“0.99”
Context: 8,630,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“8,630,000”
Context: Inferred
indicatedBau Gold Project · goldTonnes: 374500Grade: 2.73Grade Unit: g/tContained Metal: 32900Contained Unit: ozView all detailsHide details
Identity
- Project
- Bau Gold Project
- Commodity
- gold
- Region
- sarawak, east malaysia
- Reported Region
- Sarawak, East Malaysia
- Ticker
- BEZ
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Widenbar
- Resource group id
- resource:aa16593cb11c943d9a6f
- Deposit or zone
- Bekajang BYG-Krian
- Mining method
- combined
Resource Data
- Category
- indicated
- Tonnes
- 374500
- Grade
- 2.73
- Grade Unit
- g/t
- Contained Metal
- 32900
- Contained Unit
- oz
- Cutoff Grade
- 0.3
- Cutoff Unit
- g/t
Prior Estimate
- Resource Date
- 2025-10-21
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-28T00:00:00.000Z
Reasoning: The BYG-Krian Indicated resource at Bekajang shows good grade and confidence, making it a positive component of the overall project.
Positive factors
- Indicated resource category provides reasonable geological confidence.
- High grade of 2.73 g/t Au is strong for an open pit scenario.
Evidence · table
“2.73”
Context: 374,500
inferredBau Gold Project · goldTonnes: 100100Grade: 1.62Grade Unit: g/tContained Metal: 5200Contained Unit: ozView all detailsHide details
Identity
- Project
- Bau Gold Project
- Commodity
- gold
- Region
- sarawak, east malaysia
- Reported Region
- Sarawak, East Malaysia
- Ticker
- BEZ
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Widenbar
- Resource group id
- resource:24e40310de466867ac69
- Deposit or zone
- Bekajang BYG-Krian
- Mining method
- combined
Resource Data
- Category
- inferred
- Tonnes
- 100100
- Grade
- 1.62
- Grade Unit
- g/t
- Contained Metal
- 5200
- Contained Unit
- oz
- Cutoff Grade
- 0.3
- Cutoff Unit
- g/t
Prior Estimate
- Resource Date
- 2025-10-21
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-28T00:00:00.000Z
Reasoning: The BYG-Krian Inferred resource adds to the total, but its lower confidence and moderate grade mean it requires further work to be considered economically viable.
Positive factors
- Contributes to the overall resource base.
Negative factors
- Inferred category indicates lower confidence.
- Grade of 1.62 g/t Au is moderate for an open pit scenario.
Evidence · table
“1.62”
Context: 100,100
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“100,100”
Context: BYG-Krian
inferredBau Gold Project · goldTonnes: 5286000Grade: 1.11Grade Unit: g/tContained Metal: 188200Contained Unit: ozView all detailsHide details
Identity
- Project
- Bau Gold Project
- Commodity
- gold
- Region
- sarawak, east malaysia
- Reported Region
- Sarawak, East Malaysia
- Ticker
- BEZ
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Widenbar
- Resource group id
- resource:29bde079834fc1ace07d
- Deposit or zone
- Bekajang South
- Mining method
- combined
Resource Data
- Category
- inferred
- Tonnes
- 5286000
- Grade
- 1.11
- Grade Unit
- g/t
- Contained Metal
- 188200
- Contained Unit
- oz
- Cutoff Grade
- 0.3
- Cutoff Unit
- g/t
Prior Estimate
- Resource Date
- 2025-10-21
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-28T00:00:00.000Z
Reasoning: The Bekajang South Inferred resource adds to the total, but its lower confidence and moderate grade mean it requires further work to be considered economically viable.
Positive factors
- Contributes to the overall resource base.
Negative factors
- Inferred category indicates lower confidence.
- Grade of 1.11 g/t Au is moderate for an open pit scenario.
Evidence · table
“1.11”
Context: 5,286,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“5,286,000”
Context: Bekajang South
inferredBau Gold Project · goldTonnes: 1753400Grade: 2.26Grade Unit: g/tContained Metal: 127500Contained Unit: ozView all detailsHide details
Identity
- Project
- Bau Gold Project
- Commodity
- gold
- Region
- sarawak, east malaysia
- Reported Region
- Sarawak, East Malaysia
- Ticker
- BEZ
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Widenbar
- Resource group id
- resource:0ebf70a8b183b0521d5a
- Deposit or zone
- Bekajang North
- Mining method
- combined
Resource Data
- Category
- inferred
- Tonnes
- 1753400
- Grade
- 2.26
- Grade Unit
- g/t
- Contained Metal
- 127500
- Contained Unit
- oz
- Cutoff Grade
- 0.3
- Cutoff Unit
- g/t
Prior Estimate
- Resource Date
- 2025-10-21
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-28T00:00:00.000Z
Reasoning: The Bekajang North Inferred resource has a strong grade, but its lower confidence level means further work is needed to confirm economic viability.
Positive factors
- Grade of 2.26 g/t Au is strong for an open pit scenario.
Negative factors
- Inferred category indicates lower confidence.
Evidence · table
“2.26”
Context: 1,753,400
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“1,753,400”
Context: Bekajang North
inferredBau Gold Project · goldTonnes: 1032400Grade: 1.37Grade Unit: g/tContained Metal: 45600Contained Unit: ozView all detailsHide details
Identity
- Project
- Bau Gold Project
- Commodity
- gold
- Region
- sarawak, east malaysia
- Reported Region
- Sarawak, East Malaysia
- Ticker
- BEZ
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Widenbar
- Resource group id
- resource:3d249d8cfb25358ba45f
- Deposit or zone
- Bekajang Tailings
- Mining method
- combined
Resource Data
- Category
- inferred
- Tonnes
- 1032400
- Grade
- 1.37
- Grade Unit
- g/t
- Contained Metal
- 45600
- Contained Unit
- oz
- Cutoff Grade
- 0.3
- Cutoff Unit
- g/t
Prior Estimate
- Resource Date
- 2025-10-21
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-28T00:00:00.000Z
Reasoning: The Bekajang Tailings Inferred resource offers potential for future recovery, but its lower confidence and moderate grade require further evaluation.
Positive factors
- Tailings resource represents potential for reprocessing and adds to the overall resource base.
Negative factors
- Inferred category indicates lower confidence.
- Grade of 1.37 g/t Au is moderate for an open pit scenario.
Evidence · table
“1.37”
Context: 1,032,400
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“1,032,400”
Context: Tailings
inferredBau Gold Project · goldTonnes: 11218900Grade: 1.09Grade Unit: g/tContained Metal: 393200Contained Unit: ozView all detailsHide details
Identity
- Project
- Bau Gold Project
- Commodity
- gold
- Region
- sarawak, east malaysia
- Reported Region
- Sarawak, East Malaysia
- Ticker
- BEZ
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, jorc
- QP Signed
- Yes
- Qualified person names
- Widenbar
- Resource group id
- resource:cfa93699a6024bb530b1
- Deposit or zone
- Pejiru-Bogag
- Mining method
- combined
Resource Data
- Category
- inferred
- Tonnes
- 11218900
- Grade
- 1.09
- Grade Unit
- g/t
- Contained Metal
- 393200
- Contained Unit
- oz
- Cutoff Grade
- 0.3
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-21
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-28T00:00:00.000Z
Reasoning: The Pejiru-Bogag Inferred resource contributes a substantial amount of gold to the overall project, but its lower confidence level requires further work to de-risk.
Positive factors
- Significant tonnage in the Inferred category indicates future exploration potential.
Negative factors
- Inferred category indicates lower confidence.
- Grade of 1.09 g/t Au is moderate for an open pit scenario.
Evidence · table
“1.09”
Context: 11,218,900
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“11,218,900”
Context: Pejiru-Bogag
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredBau Gold Project · goldTonnes: 5455600Grade: 1.09Grade Unit: g/tContained Metal: 191000Contained Unit: ozView all detailsHide details
Identity
- Project
- Bau Gold Project
- Commodity
- gold
- Region
- sarawak, east malaysia
- Reported Region
- Sarawak, East Malaysia
- Ticker
- BEZ
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, jorc
- QP Signed
- Yes
- Qualified person names
- Widenbar
- Resource group id
- resource:53faeaafb2b25cce70dd
- Deposit or zone
- Pejiru Extension
- Mining method
- combined
Resource Data
- Category
- inferred
- Tonnes
- 5455600
- Grade
- 1.09
- Grade Unit
- g/t
- Contained Metal
- 191000
- Contained Unit
- oz
- Cutoff Grade
- 0.3
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-21
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-28T00:00:00.000Z
Reasoning: The Pejiru Extension Inferred resource adds to the total, but its lower confidence and moderate grade mean it requires further work to be considered economically viable.
Positive factors
- Contributes to the overall resource base.
Negative factors
- Inferred category indicates lower confidence.
- Grade of 1.09 g/t Au is moderate for an open pit scenario.
Evidence · table
“1.09”
Context: 5,455,600
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“5,455,600”
Context: Pejiru Extension
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredBau Gold Project · goldTonnes: 4254400Grade: 1.88Grade Unit: g/tContained Metal: 257400Contained Unit: ozView all detailsHide details
Identity
- Project
- Bau Gold Project
- Commodity
- gold
- Region
- sarawak, east malaysia
- Reported Region
- Sarawak, East Malaysia
- Ticker
- BEZ
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, jorc
- QP Signed
- Yes
- Qualified person names
- Widenbar
- Resource group id
- resource:2435e875b7ba0bee53da
- Deposit or zone
- Kapor
- Mining method
- combined
Resource Data
- Category
- inferred
- Tonnes
- 4254400
- Grade
- 1.88
- Grade Unit
- g/t
- Contained Metal
- 257400
- Contained Unit
- oz
- Cutoff Grade
- 0.3
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-21
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-28T00:00:00.000Z
Reasoning: The Kapor Inferred resource has a strong grade, but its lower confidence and noted higher arsenic levels suggest potential processing complexities that need further investigation.
Positive factors
- Grade of 1.88 g/t Au is strong for an open pit scenario.
Negative factors
- Inferred category indicates lower confidence.
- Higher arsenic levels noted, which could pose processing challenges.
Evidence · table
“1.88”
Context: 4,254,400
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“4,254,400”
Context: Kapor
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredBau Gold Project · goldTonnes: 1446900Grade: 1.03Grade Unit: g/tContained Metal: 47700Contained Unit: ozView all detailsHide details
Identity
- Project
- Bau Gold Project
- Commodity
- gold
- Region
- sarawak, east malaysia
- Reported Region
- Sarawak, East Malaysia
- Ticker
- BEZ
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, jorc
- QP Signed
- Yes
- Qualified person names
- Widenbar
- Resource group id
- resource:6c6c87aa54a16399c820
- Deposit or zone
- Boring
- Mining method
- combined
Resource Data
- Category
- inferred
- Tonnes
- 1446900
- Grade
- 1.03
- Grade Unit
- g/t
- Contained Metal
- 47700
- Contained Unit
- oz
- Cutoff Grade
- 0.3
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-21
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-28T00:00:00.000Z
Reasoning: The Boring Inferred resource adds to the total, but its lower confidence and moderate grade mean it requires further work to be considered economically viable.
Positive factors
- Contributes to the overall resource base.
Negative factors
- Inferred category indicates lower confidence.
- Grade of 1.03 g/t Au is moderate for an open pit scenario.
Evidence · table
“1.03”
Context: 1,446,900
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“1,446,900”
Context: Boring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
measuredBau Gold Project · goldTonnes: 3870000Grade: 1.68Grade Unit: g/tContained Metal: 209000Contained Unit: ozView all detailsHide details
Identity
- Project
- Bau Gold Project
- Commodity
- gold
- Region
- sarawak, east malaysia
- Reported Region
- Sarawak, East Malaysia
- Ticker
- BEZ
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Widenbar and Associates Pty Ltd
- Resource group id
- resource:0e16bfb0ed07303e96a6
- Deposit or zone
- Jugan Hill
- Mining method
- combined
Resource Data
- Category
- measured
- Tonnes
- 3870000
- Grade
- 1.68
- Grade Unit
- g/t
- Contained Metal
- 209000
- Contained Unit
- oz
- Cutoff Grade
- 0.3
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-03
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-28T00:00:00.000Z
Reasoning: The Measured resource category indicates high geological confidence and forms a robust basis for future economic studies, contributing positively to the project's de-risking.
Positive factors
- Highest confidence category (Measured) for a significant portion of the resource.
- Grade of 1.68 g/t Au is strong for an open pit scenario.
Evidence · table
“1.68”
Context: 3.87
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: The resource is classified as Measured, indicating the highest level of geological confidence.
Evidence · table
“3.87”
Context: Measured
indicatedBau Gold Project · goldTonnes: 8320000Grade: 1.62Grade Unit: g/tContained Metal: 434000Contained Unit: ozView all detailsHide details
Identity
- Project
- Bau Gold Project
- Commodity
- gold
- Region
- sarawak, east malaysia
- Reported Region
- Sarawak, East Malaysia
- Ticker
- BEZ
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Widenbar and Associates Pty Ltd
- Resource group id
- resource:5c347686f7f70b18c0b3
- Deposit or zone
- Jugan Hill
- Mining method
- combined
Resource Data
- Category
- indicated
- Tonnes
- 8320000
- Grade
- 1.62
- Grade Unit
- g/t
- Contained Metal
- 434000
- Contained Unit
- oz
- Cutoff Grade
- 0.3
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-03
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-28T00:00:00.000Z
Reasoning: The Indicated resource category supports mine planning and economic viability assessments, representing a good level of confidence for the project.
Positive factors
- Indicated resource category provides reasonable geological confidence for mine planning.
- Grade of 1.62 g/t Au is strong for an open pit scenario.
Evidence · table
“1.62”
Context: 8.32
inferredBau Gold Project · goldTonnes: 1280000Grade: 1.9Grade Unit: g/tContained Metal: 78000Contained Unit: ozView all detailsHide details
Identity
- Project
- Bau Gold Project
- Commodity
- gold
- Region
- sarawak, east malaysia
- Reported Region
- Sarawak, East Malaysia
- Ticker
- BEZ
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Widenbar and Associates Pty Ltd
- Resource group id
- resource:a264429f25a6bf1b7f35
- Deposit or zone
- Jugan Hill
- Mining method
- combined
Resource Data
- Category
- inferred
- Tonnes
- 1280000
- Grade
- 1.9
- Grade Unit
- g/t
- Contained Metal
- 78000
- Contained Unit
- oz
- Cutoff Grade
- 0.3
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-03
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-28T00:00:00.000Z
Reasoning: The Inferred resource at Jugan Hill has a strong grade, but its lower confidence level means further work is needed to confirm economic viability.
Positive factors
- Grade of 1.90 g/t Au is strong for an open pit scenario.
Negative factors
- Inferred category indicates lower confidence.
Evidence · table
“1.90”
Context: 1.28
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“1.28”
Context: Inferred
indicatedTaiton BYG portion of the · goldTonnes: 374500Grade: 2.73Grade Unit: g/tView all detailsHide details
Identity
- Project
- Taiton BYG portion of the
- Commodity
- gold
- Ticker
- BEZ
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, jorc
- Resource group id
- resource:899418a8ab4ad09669c2
- Mining method
- combined
Resource Data
- Category
- indicated
- Tonnes
- 374500
- Grade
- 2.73
- Grade Unit
- g/t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-28T00:00:00.000Z
Reasoning: Expanded from multi-commodity resource table for completeness.
Negative factors
- Fact expanded from resource table columns (model omitted this commodity).
Evidence · table
“2.73”
Context: 374,500
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredTaiton BYG portion of the · goldTonnes: 100100Grade: 1.62Grade Unit: g/tView all detailsHide details
Identity
- Project
- Taiton BYG portion of the
- Commodity
- gold
- Ticker
- BEZ
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, jorc
- Resource group id
- resource:fa5eeb27900e4cf0dae7
- Mining method
- combined
Resource Data
- Category
- inferred
- Tonnes
- 100100
- Grade
- 1.62
- Grade Unit
- g/t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-28T00:00:00.000Z
Reasoning: Expanded from multi-commodity resource table for completeness.
Negative factors
- Fact expanded from resource table columns (model omitted this commodity).
Evidence · table
“1.62”
Context: 100,100
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredTaiton BYG portion of the · goldTonnes: 5286000Grade: 1.11Grade Unit: g/tView all detailsHide details
Identity
- Project
- Taiton BYG portion of the
- Commodity
- gold
- Ticker
- BEZ
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, jorc
- Resource group id
- resource:7e5efdb17b722a5b5fb4
- Mining method
- combined
Resource Data
- Category
- inferred
- Tonnes
- 5286000
- Grade
- 1.11
- Grade Unit
- g/t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-28T00:00:00.000Z
Reasoning: Expanded from multi-commodity resource table for completeness.
Negative factors
- Fact expanded from resource table columns (model omitted this commodity).
Evidence · table
“1.11”
Context: 5,286,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredTaiton BYG portion of the · goldTonnes: 1753400Grade: 2.26Grade Unit: g/tView all detailsHide details
Identity
- Project
- Taiton BYG portion of the
- Commodity
- gold
- Ticker
- BEZ
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, jorc
- Resource group id
- resource:7be68cac6a95bf2d191e
- Mining method
- combined
Resource Data
- Category
- inferred
- Tonnes
- 1753400
- Grade
- 2.26
- Grade Unit
- g/t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-28T00:00:00.000Z
Reasoning: Expanded from multi-commodity resource table for completeness.
Negative factors
- Fact expanded from resource table columns (model omitted this commodity).
Evidence · table
“2.26”
Context: 1,753,400
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredTaiton BYG portion of the · goldTonnes: 0Grade: 0Grade Unit: g/tView all detailsHide details
Identity
- Project
- Taiton BYG portion of the
- Commodity
- gold
- Ticker
- BEZ
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, jorc
- Resource group id
- resource:05e6363cba2344e0c625
- Mining method
- combined
Resource Data
- Category
- inferred
- Tonnes
- 0
- Grade
- 0
- Grade Unit
- g/t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-28T00:00:00.000Z
Reasoning: Expanded from multi-commodity resource table for completeness.
Negative factors
- Fact expanded from resource table columns (model omitted this commodity).
Evidence · table
“0”
Context: 0
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredTaiton BYG portion of the · goldTonnes: 1032400Grade: 1.37Grade Unit: g/tView all detailsHide details
Identity
- Project
- Taiton BYG portion of the
- Commodity
- gold
- Ticker
- BEZ
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, jorc
- Resource group id
- resource:a6f3743e24c23c797c15
- Mining method
- combined
Resource Data
- Category
- inferred
- Tonnes
- 1032400
- Grade
- 1.37
- Grade Unit
- g/t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-28T00:00:00.000Z
Reasoning: Expanded from multi-commodity resource table for completeness.
Negative factors
- Fact expanded from resource table columns (model omitted this commodity).
Evidence · table
“1.37”
Context: 1,032,400
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Metallurgical Results (3)
modellingBau Gold Project · goldRecovery: 95 %View all detailsHide details
Identity
- Project
- Bau Gold Project
- Commodity
- gold
- Region
- sarawak, east malaysia
- Reported Region
- Sarawak, East Malaysia
- Ticker
- BEZ
Test Work
- Program Status
- scoping
- Test Type
- modelling
- Processing Route
- flotation with tails leach and oxidative pre-treatment (POX or BIOX)
- Sample
- sub-microscopic (refractory) gold hosted preferentially in arsenopyrite, secondarily in pyrite
Recovery
- Recovery
- 95 %
- Recovery Basis
- theoretical
- Mass Pull
- 3.5 %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-28T00:00:00.000Z
Reasoning: The Sirenggok deposit shows high theoretical gold recovery but is refractory, necessitating complex processing. The reliance on modelling and lack of recent testwork reduce the confidence in these results.
Positive factors
- High indicated recovery of ~95% for gold.
- Low mass pull of ~3.5% for flotation, indicating good selectivity.
Negative factors
- Recovery is based on modelling, not actual testwork, reducing confidence.
- Gold is refractory, requiring complex and costly oxidative pre-treatment (POX or BIOX).
- No recent follow-up metallurgical and processing studies have been undertaken.
Evidence · text
“Modelling indicates high flotation recoveries (~94%) for Sirenggok with a low mass pull (~3.5%); leaching the flotation tails adds ~+1% recovery (i.e., small incremental benefit vs flotation alone).”
Tags used in scoring
POX/BIOX Routeneutral
Pressure or bio-oxidation for refractory ore — high CAPEX and OPEX.
Why it applies: processing_route matches the pox_biox signal
modellingBau Gold Project · goldRecovery: 76 %View all detailsHide details
Identity
- Project
- Bau Gold Project
- Commodity
- gold
- Region
- sarawak, east malaysia
- Reported Region
- Sarawak, East Malaysia
- Ticker
- BEZ
Test Work
- Program Status
- scoping
- Test Type
- modelling
- Processing Route
- flotation with tails leach and oxidative pre-treatment (POX or BIOX)
- Sample
- sub-microscopic (refractory) Au predominantly in arsenopyrite/pyrite, minor stibnite, carbonate-rich host rocks
Recovery
- Recovery
- 76 %
- Recovery Basis
- theoretical
- Mass Pull
- 5 %
Reagents
- Reagent Notes
- Acidulation before POX will be required due to carbonate gangue; stibnite can be a nuisance in POX.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-28T00:00:00.000Z
Reasoning: The Bekajang deposit presents significant metallurgical challenges due to refractory gold, carbonate gangue, and stibnite, requiring complex and potentially costly processing. The reliance on modelling for recovery estimates further reduces confidence.
Positive factors
- Low mass pull of ~1–5% for flotation, indicating good selectivity.
Negative factors
- Recovery is based on modelling, not actual testwork, reducing confidence.
- Gold is refractory, requiring complex and costly oxidative pre-treatment (POX or BIOX).
- Carbonate gangue requires acidulation before POX, adding complexity and cost.
- Stibnite presence can be a nuisance in POX, indicating potential processing challenges.
- Recovery range of 49-76% is moderate to weak for a mill route.
Evidence · text
“AMTEL’s modelling indicates (order-of-magnitude) flotation recoveries in the ~41–65% range for Bekajang domains at the study grind, with low mass pulls (~1–5%) and an additional ~+8–11% Au recovery if leaching flotation tails.”
Tags used in scoring
POX/BIOX Routeneutral
Pressure or bio-oxidation for refractory ore — high CAPEX and OPEX.
Why it applies: processing_route matches the pox_biox signal
Low Recoverynegative
Recovery below the weak band for the commodity and processing route.
Why it applies: 76% is below the weak band (80%)
whole-ore NaCN leachBau Gold Project · goldRecovery: 75 %View all detailsHide details
Identity
- Project
- Bau Gold Project
- Commodity
- gold
- Region
- sarawak, east malaysia
- Reported Region
- Sarawak, East Malaysia
- Ticker
- BEZ
Test Work
- Program Status
- scoping
- Test Type
- whole-ore NaCN leach
- Processing Route
- sulphide flotation with CN leach of flotation tails
- Sample
- sub-microscopic (refractory) and fine native gold; pyrite is principal Au carrier; calcite dominant gangue
Recovery
- Recovery
- 75 %
- Recovery Basis
- actual_test
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-28T00:00:00.000Z
Reasoning: The Pejiru deposit shows moderate gold recovery with a recommended flowsheet, but the refractory nature of the gold and reliance on historical, bench-scale testwork indicate further metallurgical de-risking is needed.
Positive factors
- Overall gold recovery of ~75% is a reasonable planning basis for the recommended flowsheet.
Negative factors
- Gold is refractory, requiring complex processing (sulphide flotation with tails leach).
- Direct whole-ore cyanidation is not recommended.
- Historical testwork, with no recent follow-up studies.
- Bench-scale testwork only.
Evidence · text
“Overall gold recovery ~75% is a reasonable planning basis for Pejiru with a flotation + tails-leach flowsheet.”
Tags used in scoring
Low Recoverynegative
Recovery below the weak band for the commodity and processing route.
Why it applies: 75% is below the weak band (80%)
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.