Reverse Mergers & Low Float Plays

[Potse]

QMEI...acquired 9.72% of Besra Gold......

I picked up some more shares of QMEI today at around 74-75 cents. Although QMEI has not made any US-filings or social media disclosures yet regarding this acquisition, it appears QMEI has acquired 9.72% of Besra Gold. This company trades on the Australian stock exchange and is primarily focused on gold mining in Malaysia. Besra's exploration targets look like they have (or potentially have) significant deposits of gold.

QMEI acquired these shares from another company, at a more than 450% premium to what Besra was trading at around the time of the acquisition. Date of the acquisition was August 11. According to the filing disclosures in Australia, QMEI paid $5M in cash for this position. Quantum Metal Recovery is a subsidiary that QMEI registered last year.

Besra issued a press release this morning.......

Besra Gold Inc. (“Besra” or “Company”) is pleased to welcome Quantum Metal Recovery Inc. (“Quantum”) as a substantial shareholder of the Company following its acquisition of Besra CDIs from Pangaea Resources Limited[1].

Quantum is a US based corporation and part of a group whose principals are based in Malaysia, with strong relationships to Sarawak stakeholders including within the district of Bau.

Besra’s Bau Gold Project is defined by a gold mineralisation system covering an approximately 8km x 15km corridor, centred on the township of Bau. Within this corridor Besra has identified total Resources of 72.6Mt @ 1.4 g/t for 3.3Moz[2] of gold, involving a number of discrete deposits together with an Exploration Target ranging between 4.9Moz and 9.32Moz[3] (on a 100% basis).

Besra’s CEO Ray Shaw commented: “Quantum’s share acquisition recognises the significant gold endowment at Bau and the potential the district has to be a significant gold producer in Asia. The Company looks forward to working with Quantum to advance its exploration and project development activities at Bau”

This announcement was authorised for release by the Chairman of Besra Gold Inc.

https://www.besra.com/welcome-to-quantum-metal-recovery-inc/

Australia disclosure of QMEI's position.......

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02557021-6A1105742?access_token=83ff96335c2d45a094df02a206a39ff4