KUALA LUMPUR (June 27): Bahvest Resources Bhd claims that the recent damage to its plant site was believed to be an act of sabotage.
It filed a police report on June 26 after several men entered the site on the morning of June 22 and broke the bund wall of its water reservoir using an excavator machine, causing water to gush into the site and disrupt operations.
“The water supply to the staff quarters and the processing plant was halted,” said the gold mining company in a Bursa filing.
“When our staff attempted to restore the water supply, they were subjected to physical threats and verbal abuse.”
The company said it is currently exploring all available options to resolve the issue and resume its gold mining operations.
“Our objectives are to recover the losses inflicted upon the company due to these wrongful acts and to prevent any additional losses from being incurred.”
It added that the site has been disrupted since June 22 and is currently unable to continue.
“If the matter remains unresolved, it will be necessary to temporarily halt the group's gold mining operations, which will have a substantial financial impact on the group for the financial year ending on March 31, 2024.”
Bahvest’s share price closed lower one sen or 5.41% to 17.5 sen on Tuesday (June 27), valuing the company at RM210.58 million