Reverse Mergers & Low Float Plays

[Potse]

QMEI(.555)...added to position......

The Board of Besra Gold Inc (ASX: BEZ) (ARBN 141 335 686) (“Besra” or “Company”) is pleased to advise the market that it is in advanced discussions with its substantial shareholder, Quantum Metals Recovery Inc (“QM”), pursuant to which it is proposed that QM will provide up to US$300 million in financial support, commencing as soon as CY2023, by way of a gold offtake purchase facility.

The proposed facility, if implemented, would enable Besra to advance exploration and development planning, and to expedite production at the Bau Gold Project in Sarawak, Malaysia. It is currently proposed that stream deliveries would be based on gold production from Bau, with Besra to receive 90% of the spot gold price for each ounce delivered subject to a monthly cap.

I picked up some more shares of QMEI today. The 2023 Q1 report was filed last week. The revenue ($108M) and net income ($6.8M) in that quarter were excellent. Besra Gold is currently under a voluntary trading halt in Australia, pending some type of imminent announcement about the above $300M financial support.

Quantum Metal held its 10th anniversary celebration in late January, during which the CEO went up on stage and talked for about 15 minutes. As I have mentioned previously, the language/accent differences and video/audio quality of QMEI-related videos often make it difficult to clearly understand the CEO. I have seen two videos of his anniversary speech taken from different angles and distances, but the close captioning and transcript features on the videos did not really help me understand what he was saying.

But based on what I did hear, and my interpretation of what I think I heard, it is my belief that QMEI is planning on having an audit completed by an international firm in the second quarter of calendar 2023. During the speech he definitely used the word "uplisting". I think there is a definite possibility that QMEI intends to either upgrade to a higher tier at OTC Markets or begin the process of becoming fully-reporting.