Photo by: Bloomberg
TORONTO (miningweekly.com) – Vietnam-focused gold miner Besra on Monday said its stock had been suspended from trading on the ASX after it failed to pay its yearly listing fees.
TSX-listed Besra missed the Friday deadline to pay its dues, resulting in its stock being suspended from official quotation.
Besra last Friday noted that it was expecting to receive a $2.25-million advance of a $14.25-million subscription agreement from Tradora, an affiliate of the Victory Corporation Group, through an interest-free unsecured convertible redeemable note expected to be issued on or before Friday.
The company revealed that it would remedy the situation by making payment to ASX by Friday, after which the stock’s suspension would be lifted by the following business day.
Besra last month suspended operations at its Bong Mieu site and at its nearby Phuoc Son site, in central Vietnam, citing “coercive measures” taken by the provincial Quang Nam tax department.
On Friday, Besra said it was making progress toward resuming production pending confirmation from all necessary levels of government that no further coercive tax measures would be applied.