Companies · Mining & Resources

Besra Gold Inc.

West Perth, WA · Mining & Resources · refined from filed group “Other

Diligence memoA one-page analyst read on Besra Gold Inc. — recommendation, valuation, rhythm, risks.
$76.8M
Total raised · real
6
Rounds
0.6×
Latest step-up
Top 3%
Sector rank · raised
Series B
Latest stage · inferred · Thu Sep 30 2021 00:00:00 GMT+0000 (Coordinated Universal Time)

Besra Gold Inc. looks under-valued against its niche peers and is dormant on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the extractive sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Under-valued
  • Modeled value is 0.15× the median modeled value of Series B Mining & Resources companies in 2019–2021 (9 peers) — value vs value, same stage and era.
Dormant
  • Last raise 4.7 yr ago; this sector typically re-raises about every 11 months.
  • Silent for over 3× the sector's normal cadence.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Mining & Resources

Besra Gold Inc. is one of 701 Mining & Resources companies tracked from West Perth, WA. By capital raised it ranks among the largest (ahead of 98% of sector peers), and in the upper tier by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
95
Investors (latest)
2021-09-30
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$50M$100M$150M$200MSeries A · 2010-03-26 Raised $12M (real) Modeled valuation $54M (est)$12M$54MSeries A2010Series B · 2010-06-21 Raised $22M (real) Modeled valuation $105M (est)$22M$105MSeries B2010Series B · 2011-05-06 Raised $15M (real) Modeled valuation $70M (est)$15M$70MSeries B2011Series B · 2012-11-20 Raised $23M (real) Modeled valuation $111M (est)$23M$111MSeries B2012Series B · 2021-09-30 Raised $2.9M (real) Modeled valuation $13M (est)$2.9M$13MSeries B2021Series B · 2021-09-30 Raised $1.9M (real) Modeled valuation $8.4M (est)$1.9M$8.4MSeries B2021+$22M+$15M+$23M+$2.9M+$1.9MCumulative $77M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Series A$12.4M · 2010
Series B$21.9M · 2010
Series B extension$14.6M · 2011
Series B extension$23.0M · 2012
Series B extension$2.9M · 2021
Series B extension$1.9M · 2021

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 50%.

Modeled valuation trajectory
$13.3M
Base estimate est.
$7.0M
Conservative case
$40.3M
Upside case
$16.4M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ba $15M–$40M round). Valuation is modeled from stage benchmarks scaled by the extractive sector profile. Directional, not a quoted figure.

Series A · modeled $54.2M · 2010-03-262010Series B · modeled $105.1M · 2010-06-21Series B · modeled $70.1M · 2011-05-06Series B · modeled $110.6M · 2012-11-20Series B · modeled $13.3M · 2021-09-30Series B · modeled $8.4M · 2021-09-302021
Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
65%
Survival probability
43% low · 79% high
1.05×/yr
Annual markup
1.27×/yr upside case
4.8 yr
Elapsed time used
4.8 yr actual, capped for stale marks
extractive
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
28 mo
Avg between rounds
$6.7M/yr
Capital velocity
16.3 yr
On record since
2010
First round
6
Rounds on file
How it compares to the market

Benchmarked against 701 companies in Mining & Resources. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 33× above median
This company$76.8M
Sector median$2.3M
Latest round — vs other Series B rounds in sector (real $, this stage) 0.3× of median
This company$1.9M
Sector median$6.3M
Modeled value — vs sector median (estimate, all stages) 5.3× above median
This company$13.3M
Sector median$2.5M

Raised more than 98% of sector peers (real $). Modeled value above 83% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series B) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #7 of 9.

This companyCohort peer
$1.0M$10.0M$100.0M$1.0B$10.0M$100.0MCapital raised (log)Blockware Mining, LLC · Series B Raised $34.0M · modeled $163.1M (est)Universe Exploration Co · Series B Raised $43.8M · modeled $133.8M (est)Metal Oxide Technologies LLC · Series B Raised $36.1M · modeled $126.6M (est)GS Mining Co LLC · Series B Raised $26.6M · modeled $96.0M (est)Hunter Douglas Metals LLC · Series B Raised $18.0M · modeled $86.4M (est)Eurasia Mining plc · Series B Raised $34.6M · modeled $66.5M (est)Premier Gold Mines Ltd · Series B Raised $37.1M · modeled $10.7M (est)Rubicon Minerals Corp · Series B Raised $21.9M · modeled $9.3M (est)Besra Gold Inc. (this company) Raised $76.8M · modeled $13.3M (est)Besra Gold Inc.
CompanyStageRaised · realValue · estvs peer med.
Blockware Mining, LLCSeries B$34.0M$163.1M1.89×
Universe Exploration CoSeries B$43.8M$133.8M1.55×
Metal Oxide Technologies LLCSeries B$36.1M$126.6M1.47×
GS Mining Co LLCSeries B$26.6M$96.0M1.11×
Hunter Douglas Metals LLCSeries B$18.0M$86.4M1.00×
Eurasia Mining plcSeries B$34.6M$66.5M0.77×
Besra Gold Inc. this companySeries B$76.8M$13.3M0.15×
Premier Gold Mines LtdSeries B$37.1M$10.7M0.12×
Rubicon Minerals CorpSeries B$21.9M$9.3M0.11×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Series A$12.4M2010-03-26$56.4M$54.2M85%
Series B$21.9M2010-06-21$121.7M$105.1M85%
Series B$14.6M2011-05-06$81.1M$70.1M85%
Series B$23.0M2012-11-20$128.0M$110.6M85%
Series B$2.9M2021-09-30$16.4M$13.3M90%
Series B$1.9M2021-09-30$10.3M$8.4M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Series A$12.4M2010-03-26
    • First recorded raise — entered as Series A.
    • 159 investors on this round.
  2. Series B$21.9M2010-06-21
    • Came back fast: 3 mo vs the ~11 mo sector norm.
    • Round 1.8× larger than the prior — scaling up.
    • 226 investors on this round.
  3. Series B$14.6M2011-05-06
    • Raised 10 mo later, in step with the ~11 mo sector norm.
    • Round 1.5× smaller than the prior — bridge or down round.
    • Revenue band moved $5M–$25M → $25M–$100M.
    • 157 investors on this round.
  4. Series B$23.0M2012-11-20
    • Raised again after 19 mo — slower than the ~11 mo sector norm.
    • Round 1.6× larger than the prior — scaling up.
    • 247 investors on this round.
  5. Series B$2.9M2021-09-30
    • Raised again after 106 mo — slower than the ~11 mo sector norm.
    • Round 7.8× smaller than the prior — bridge or down round.
    • Switched to Rule 506(b) (was Rule 06).
    • 26 investors on this round.
  6. Series B$1.9M2021-09-30
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.6× smaller than the prior — bridge or down round.
    • 95 investors on this round.
Intelligence
2024 ~Q1
Modeled next raise · ~28mo cadence
$1.9M
Modeled next size est.range $1.9M$3.0M
0.6×
Last step-up
$6.7M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Nathaniel Jon Morda1 other2011-05
Andrew John Worland2021-09
Charles Alexander Fordyce Barclay2010-03
Charles Jane Barclay2012-11
Darin Jane Lee2012-11
David Alexander Seton2010-03
David A. Seton2012-11
Eryn Douglas Kestel2021-09
James Jane Hamilton2012-11
James Willoughby Hamilton2010-03
Jane Alexander Fordyce Bell2010-03
Jeffrey Jane Klam2012-11
John A.G. Seton2012-11
John Andrew Gowans Seton2010-03
Jon (Nathanial) Frederick Morda2010-03
Jon (Nathaniel) Frederick Morda2010-06
Kevin M. Tomlinson2012-11
Leslie Graham Robinson2010-03
Leslie G. Robinson2012-11
Mark Price Eaton2021-09
N. Jon Morda2012-11
Paul Anthon Ingram2021-09
Paul Frederick Seton2010-03
Paul Jane Seton2012-11
Registry & provenance

Besra Gold Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1164099
SEC CIK
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
International Tower Hill Mines LtdMining & ResourcesSeries B$96.9M$15.1Msame sector · same stage
Lost River Mining, Inc.Mining & ResourcesSeries B$51.2M$13.0Msame sector · same stage
Orezone Gold CorpMining & ResourcesSeries B$43.9M$10.5Msame sector · same stage
Premier Gold Mines LtdMining & ResourcesSeries B$37.1M$10.7Msame sector · same stage
Platinum Group Metals LtdMining & ResourcesSeries B$35.7M$12.0Msame sector · same stage
Western Alaska Minerals Corp.Mining & ResourcesSeries B$28.0M$4.6Msame sector · same stage
i-80 Gold Corp.Mining & ResourcesSeries C$76.1M$22.7Msame sector
Kootenay Silver Inc.Mining & ResourcesSeed$5.7M$1.3Mnetwork1 shared operator · same sector
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
Rua Gold Inc.Mining & ResourcesSeries A$25.0M86%
Sitka Gold Corp.Mining & ResourcesSeed$4.8M83%
Valhalla Metals Inc.Mining & ResourcesSeries B$78.2M83%
Banyan Gold Corp.Mining & ResourcesPre-Seed$563K83%
Goldsource Mines Inc.Mining & ResourcesSeries A$869K83%
Altamira Gold Corp.Mining & ResourcesSeed$2.3M83%
Moneta Gold Inc.Mining & ResourcesSeed$6.3M83%
Rackla Metals Inc.Mining & ResourcesPre-Seed$683K82%
Frequently asked
How much funding has Besra Gold Inc. raised?
Besra Gold Inc. has raised approximately $76.8M in disclosed capital across 6 recorded financing rounds, aggregated from public filings.
What is Besra Gold Inc.'s estimated valuation?
Provath's modeled valuation for Besra Gold Inc. is approximately $13.3M (modeled range $7.0M–$40.3M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Besra Gold Inc. at?
Besra Gold Inc.'s latest modeled financing stage is Series B. Its most recent recorded round closed around Thu Sep 30.
What does Besra Gold Inc. do and where is it based?
Besra Gold Inc. operates in the Mining & Resources sector, based in West Perth, WA.
Explore related

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