Quantum Metal Recovery Inc. Takes Action Against Besra Gold After Controversial ASX Announcement
In a dramatic turn of events in the mining sector, Quantum Metal Recovery Inc. (QMRI), the largest stakeholder in Besra Gold Inc., has mounted a strong response against Besra's recent announcement on the Australian Securities Exchange (ASX). On May 22, 2025, Besra released a document titled 'Market Update Clarification of Quantum Presentation,' accompanied by a Management Information Circular that QMRI has vehemently contested. The company labels these documents as biased, incendiary, and, in certain instances, potentially harmful to its reputation.
The roots of this dispute trace back to May 15, 2025, when QMRI formally commenced legal proceedings in Ontario's Superior Court of Justice. Their aim? To facilitate the replacement of the current Besra board. The Notice of Application has been made publicly accessible, emphasizing QMRI's determination to either affect change through an upcoming shareholders' meeting or via a court directive if necessary.
As part of their commitment to protecting shareholder interests, QMRI has proposed the nomination of three independent directors who bring substantial industry expertise in mining. The nominees include
QMRI asserts that contrary to the claims made in the Management Circular, their nominees to the Besra board maintain a professional separation from both QMRI and Dato Lim, being selected independently by a recruitment agency for their relevant industry knowledge and experience with international mining projects, specifically those involving gold.
The situation escalates with concerns raised by QMRI regarding the stagnation of progress on the Bau Gold Project, a venture that promises significant returns for shareholders. QMRI believes that appointing its proposed nominees would inject much-needed transparency, expertise, and oversight into the company's operations, effectively aligning it with contractual commitments and the expectations of its stakeholders.
The legal wrangling looks set to unfold further as QMRI aims to bolster its influence within Besra, ensuring that the needs of shareholders are prioritized and that the company adheres to its obligations. Watch this space for updates on the developments in this gripping corporate narrative.
To view complete details and access the legal filings, you can click here.
For media inquiries, contact the Corporate Communications Department at Quantum Metal Recovery Inc.
Email: [email protected]
Source: Quantum Metal Recovery Inc.
The roots of this dispute trace back to May 15, 2025, when QMRI formally commenced legal proceedings in Ontario's Superior Court of Justice. Their aim? To facilitate the replacement of the current Besra board. The Notice of Application has been made publicly accessible, emphasizing QMRI's determination to either affect change through an upcoming shareholders' meeting or via a court directive if necessary.
As part of their commitment to protecting shareholder interests, QMRI has proposed the nomination of three independent directors who bring substantial industry expertise in mining. The nominees include
- - Mr. David Izzard: A Certified Practicing Accountant with a strong track record in commercial, strategic, and financial management within listed companies.
- - Dr. Matthew Greentree: A seasoned mining executive and geologist, boasting over 25 years in exploration and development and formerly the Managing Director and CEO of Ausgold Limited.
- - Dr. William John Blake: A qualified Mining Engineer and former CEO with extensive international mining experience across Asia-Pacific and the Americas, amounting to over 35 years.
QMRI asserts that contrary to the claims made in the Management Circular, their nominees to the Besra board maintain a professional separation from both QMRI and Dato Lim, being selected independently by a recruitment agency for their relevant industry knowledge and experience with international mining projects, specifically those involving gold.
The situation escalates with concerns raised by QMRI regarding the stagnation of progress on the Bau Gold Project, a venture that promises significant returns for shareholders. QMRI believes that appointing its proposed nominees would inject much-needed transparency, expertise, and oversight into the company's operations, effectively aligning it with contractual commitments and the expectations of its stakeholders.
The legal wrangling looks set to unfold further as QMRI aims to bolster its influence within Besra, ensuring that the needs of shareholders are prioritized and that the company adheres to its obligations. Watch this space for updates on the developments in this gripping corporate narrative.
To view complete details and access the legal filings, you can click here.
For media inquiries, contact the Corporate Communications Department at Quantum Metal Recovery Inc.
Email: [email protected]
Source: Quantum Metal Recovery Inc.
Topics Business Technology）
【About Using Articles】
You can freely use the title and article content by linking to the page where the article is posted.
※ Images cannot be used.
【About Links】
Links are free to use.