Besra Gold (ASX:BEZ) said it continues to probe circumstances surrounding the transfer of CHESS depositary interests from Quantum Metal Recovery, according to a Monday Australian bourse filing.

On March 6, Besra received a letter from Quantum's lawyers stating that Quantum Metal Recovery holds 84.9 million common shares equating to around 20% of the issued and outstanding capital of the firm.

Earlier communication on Feb. 24 said that Quantum owns 124.9 million common shares of Besra.

Since the receipt of the most recent communication, Besra again requested confirmation whether Quantum had sold the CDIs and did not receive a response at the time of the filing.

As part of the investigation, Besra asked Dato Lim, the controller of Quantum and a director of Besra, on several occasions whether Quantum had sold any Besra CDIs.

At a board meeting on March 3, Dato Lim responded that there had "been no change of beneficial ownership."