Bought the stock at an average price of of $0.60 (in 2006 and 2009) and now the share is $0.18.
Toronto, 20 November 2012: Besra is the new name for Olympus Pacific Minerals. After twenty years operating as Olympus Pacific Minerals Inc it is time for a change. Why a SE Asia based gold mining company should be named after a mountain in Greece is one of those strange “it just ended up that way” kind of anomalies. With a bold and bright expansion plan ahead of it, the company felt it was the right time to adopt a new name. An appropriate name, one that refers to the region in which the company operates and the traits to which it aspires. Besra is that name.
Continuing the explanation for the re-brand, Chief Executive Officer John Seton said, “A Besra is a bird of prey indigenous to the regions in SE Asia in which we operate. A tenacious, fast flying hawk with acute vision; traits to which we as a company aspire. We are embarking on a new key stage of our development plan. We’ve already successfully made the shift from exploration to producer which, for many companies, has proved difficult – but we’ve done it. Our two operating gold mines in Vietnam are continuing to deliver ounces, we’re increasing throughput and achieving higher recovery rates. Which means cashflow.”
“So now we’re committed to bringing our big goldfield project in East Malaysia online and become a truly significant gold producer. Besra is the company that will do that. We’ve got a great team, we’ve got great projects and we’re about to take flight. Bau in East Malaysia is going to be a game changer for us. We believe Besra is truly an exciting opportunity for investors looking for undervalued growth companies in the gold sector.“