Besra Gold Inc Announces New Leadership for Jugan Project
BEZ (BEZ) Share Update July 2024 Wednesday 31st
Besra Gold Inc Appoints New Managing Director for Jugan Project
Besra Gold Inc (ASX:BEZ) has announced the appointment of Matthew Antill as the new Managing Director of its Malaysian operating subsidiary, North Borneo Gold Sdn Bhd, to lead the Jugan Project towards commercialisation.
Instant Summary:
- Matthew Antill appointed as Managing Director of North Borneo Gold Sdn Bhd.
- Mr. Antill to lead the Jugan Project towards commercialisation.
- Over three decades of experience in mining and mine development.
- Former Chief Production and Mine Development Officer at Monument Mining Limited.
- Appointment effective from 1 November 2024, with a remuneration of A$400,000 per annum.
Appointment of Matthew Antill
Besra Gold Inc (Besra or the Company) is pleased to announce the appointment of Matthew Antill as Managing Director of its Malaysian operating subsidiary, North Borneo Gold Sdn Bhd. Mr. Antill will be responsible for moving the Jugan Project towards commercialisation, through Pilot Production and the delivery of the Definitive Feasibility Study.
Mr. Antill brings over three decades of experience in mining and mine development, with significant senior operational management experience. He has overseen studies in both open pit and underground operations, specializing in gold, including refractory and narrow vein operations.
Professional Background
Most recently, Mr. Antill served as Chief Production and Mine Development Officer at Monument Mining Limited, where he played a pivotal role in the commencement of multiple open pit mines and the commissioning of the ~1mtpa sulphide gold processing circuit at the Selinsing Gold Mine in Malaysia.
Prior to that, he was the General Manager Operations at Rox Resources in Western Australia, managing various studies and metallurgical test work for the Youanmi Gold Mine. His extensive experience also includes roles at Lafayette Mining Philippines, Fox Resource’s Radio Hill, Citic Pacific’s Sino Iron Project, and Saracen Metals’ Thunderbox Mine.
Terms of Appointment
Mr. Antill's appointment will commence on 1 November 2024. He will report to the Board of Besra and will be remunerated at the rate of A$400,000 per annum, plus superannuation. He will serve a three-month probationary period. Upon satisfactory completion of this period, he will be entitled to 1.2 million Besra performance rights.
The performance rights will be granted in three classes (Class A, B, and C), each with specific performance hurdles related to the Jugan Gold Project and the Bau Gold Project. These rights are subject to terms and conditions, including vesting criteria and expiry clauses.
The appointment of Matthew Antill is expected to positively impact Besra Gold Inc's stock as it brings in a seasoned professional with a proven track record in mine development. His expertise in gold mining and operational management will be crucial in advancing the Jugan Project towards commercialisation, potentially increasing investor confidence.
Investor Reaction:
Analysts are likely to react positively to this announcement, given Mr. Antill's extensive experience and successful track record in similar roles. His appointment is seen as a strategic move to ensure the successful development and commercialisation of the Jugan Project.
Conclusion:
Investors should keep an eye on the progress of the Jugan Project under Mr. Antill's leadership. His appointment is a significant step towards achieving the company's goals and could lead to substantial growth for Besra Gold Inc. Stay informed on further developments and consider the potential long-term benefits for your investment portfolio.