Besra Gold Inc BSRAF

RE:RE:Record Breaking Quarter Sees Besra Meet 2013 Gold Production Guidance

[Ticker28]

I agree, it is over corrected.  While they have challenges as all miners in this sector do, Besra will survive because of the cash flow generation from their flagship properties, cost reduction, and plant upgrading to process more ore.  

• They have reduced their all in cash costs by more than I expected.  I don't have the exact number in front of me now but it was north of me$100/oz.  It is inline with other developed miners in the sector.  
• 2 feasability studies will be completed soon with Bau being bankable.  The new deposit in Vietnam is near Phuc Son plant so a new processing plant is not required,  just upgrade existing to put through more tonnes per day.  
• Should be north of 100k oz per annum as these are put into action.  Lots of good fundamentals.
• While royalty rates are far from perfect relations with Vietnamese are not in jeopardy.  They should be vindicated from the tax claim and possibly achieve more competitive royalty rates.

Besra is attached to Gold so any significant recovery in spot price bodes well for them.  They should emerge a stronger company through the cycle.
I wouldn't tell someone to purchase or not but there would hardly be a better time.  17 million wouldn't even cover the equipment costs nevermind value of deposits.