Bezant Resources starts testing for drill programme in Zambia
A drill contract has been signed and a rig is due to be mobilised in the coming days
Company
LON:BZT
Bezant Resources PLC is focused on developing its pipeline of copper-gold projects to provide a new generation of economically and socially sustainable mines and also has a manganese project in Botswana
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A drill contract has been signed and a rig is due to be mobilised in the coming days
The demand for copper is expected to double by 2030 believes management
The Metrock acquisition means Bezant now controls the Kanye Manganese Project, an area that has clear evidence of high manganese grades suitable for use in battery metals
“This result has provided us with increased motivation to test the 130km of strike under license and this will be carried out by a heli-airborne survey during this first quarter,” said chairman Colin Bird
"The underlying mineral licences represent exploration rights to a very large area of highly prospective manganese bearing ground," said executive chairman, Colin Bird
"This is a promising start to our exploration and drilling programme," said Colin Bird, executive chairman
The company said AsiaPhos has agreed to acquire MMJV through a reverse takeover transaction, which if completed will trigger an issue of £5.6mln worth of shares to Bezant in the listed entity holding MMJV
The company confirmed it will pay the deal consideration in shares
The listing vehicle is being reversed into a Singapore-listed company called AsiaPhos.
Raju Samtani and Ed Slowey will be joining the board with immediate effect, as finance director and technical director, respectively.
The company has a 30% interest and is the operator of the project.
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In the same announcement, investors were told the mineral production sharing agreement (MPSA) has been extended
The work should commence during the coming weeks. Bezant will keep shareholders updated on our results as they arise. "
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“The company is well-positioned in the gold-copper space when the demand for copper is expected to double by 2030"
The fundraising comprises a conditional placing of 750mln shares at 0.08p.
The explorer now looks forward to a ' value creation strategy' which was lined up during the due diligence period
Bezant is building a diverse portfolio of assets in Southern Africa
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