Besra Gold (ASX:BEZ) said Malaysia's Inland Revenue Department is withdrawing a petition for winding up by the Malaysian High Court of Quantum Metal, also known as QM Malaysia, according to a Wednesday Australian bourse filing.
The winding-up petition for QM Malaysia was issued as a result of a delay in the payment of tax to the Malaysian government. It submitted an installment proposal to the department for their approval on Nov. 8, 2024, the filing said.
QM Malaysia is a subsidiary of US-based Quantum Metal Recovery, the largest CHESS Deposit Interest holder of Besra Gold.
The mining firm's shares fell over 2% in trading on Wednesday.
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