MINING REFINING

Bahvest gets gold mining contract

Wed Oct 23 2024

PETALING JAYA: Wullersdorf Resources Sdn Bhd (WRSB), a wholly-owned subsidiary of Bahvest Resources Bhd, had entered into an exclusive prospecting and contract of works agreement with Aurelius Borneo Mining Sdn Bhd for the prospecting, exploration and gold mining of Mount Andrassy in Tawau, Sabah.

In a filing with Bursa Malaysia, it said the partnership would grant WRSB exclusive rights to also conduct sampling, surveying, and drilling activities of gold containing ore at the 18,000-ha site.

he agreement is not expected to significantly impact Bahvest Group’s earnings per share, net assets per share, or gearing for the financial year ending September 30, 2025.

However, future gold profits from the project will be divided, with WRSB receiving 70% and Aurelius with the remaining 30%.

Source: https://www.thestar.com.my