ASX-listed Besra Gold’s newly elected board of directors has completed a visit to the company’s Bau gold project in Sarawak, Malaysia, and has kicked off an independent strategic review of the company’s operations and corporate structure.

The site visit in late July marked the first time the entire Besra board had visited the flagship project, which has a long history of gold exploration and development. The new board comprises independent nonexecutive directors David Izzard (chairperson), Matthew Greentree, and John Blake – all experienced ASX company executives with backgrounds in mineral discovery and project development.

During their time on site, the directors met with site-based employees, local stakeholders, and government representatives. The board also held discussions with Besra’s major shareholder.

“We were absolutely delighted to get on the ground at the Bau project, with this visit representing our first opportunity to meet the team, examine the drill core and see the current status of on-site activities,” said Izzard. “The visit has well and truly cemented the board’s belief in the Bau project’s strong prospectivity and robust development potential.”

He added that meetings with government representatives were positive. “We look forward to working closely with the relevant departments over the coming weeks and months, particularly as we work to confirm the renewal of the key Jugan mining lease, ML 05/2012/1D.”

As part of the strategic corporate review, the board is reassessing the status of the Bau project’s licences, its exploration potential, and development path. The review will also scrutinise the company’s strategy, contracts, and overheads, and aims to enhance transparency and improve communication.

“Given the significant exploration, project development and mining expertise of the new board members, our first step will be the completion of a detailed strategic review that will cover all aspects of the Bau project, including an interrogation of all historical exploration data and the proposed development plans,” Izzard noted. “The review will also cover Besra’s corporate activities, including contracts and corporate overheads, to ensure the company’s balance sheet is being deployed effectively and cash burn is minimised.”

To cut costs, Besra has relocated its head office from Melbourne to Perth, placing it closer to suppliers and service providers in the mining and exploration sector.

The board expects to complete the strategic review by the December quarter, with findings to shape Besra’s growth trajectory and guide the next phase of the Bau project’s development.