Shares of Australian-based gold mining company Besra Gold (ASX:BEZ) rose significantly, marking an intraday percentage gain of roughly 35.7% to A$0.190, which is their largest increase since July 25.

This surge takes the value of Besra Gold shares to their highest level since September 6th.

The company has confirmed that all conditions preceding a binding $300 million gold purchasing agreement with main CHESS Depositary Interest holder Quantum Metal Recovery have been met.

With this deal, Besra Gold will utilize the deposits for exploration, feasibility studies, and mine development purposes.

Over 4.6 million shares exchanged ownership making it an above average trading day compared to the 30-day average of approximately 1.8 million shares.

Besra’s stock has already climbed more than 169% this year, as of the most recent market closure.

Besra Gold (ASX:BEZ) is an Australian-based gold mining company.