ASA Resources has removed its CEO Yat Hoi Ning after a report showed strong evidence of funds “amounting to several million US dollars”, being transferred from the accounts of its 85%-owned Freda Rebecca gold mine (FRGM) to entities in China, without full value being received by FRGM. It has also removed its FD Yim Kwan from his position, effective immediately. The executives will now face local authorities and disciplinary action.
