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Bezant Resources finishes sale of Mankayan stake

The AIM-listed copper and gold explorer sold the stake to Singapore-based Mining and Minerals Industries Holding Ltd for an initial funding package of US$2.25mln

Bezant Resources PLC -
Elsewhere, Bezant is focusing on developing the Buffalo copper project in Zambia

Bezant Resources PLC (LON:BZT) has completed the sale of 80% of its stake in the Mankayan copper and gold project in the Philippines.

The explorer and developer announced in an update on Monday that the Mankayan stake, operated by its subsidiary Asean Copper Investments Limited, was sold to subsidiary of the Singapore-based company Mining and Minerals Industries Holding Ltd.

READ: Bezant Resources gets more indications of copper at Buffalo in Zambia

In return for the shares, Bezant will receive an initial funding package of US$2.25mln, plus further funding of up to US$5.5mln subject to the renewal of licencing agreements with the Philippine government.


Quick facts: Bezant Resources PLC

Price: 0.1825 GBX

Market: AIM
Market Cap: £2.32 m

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Bezant Resources focused on developing its copper and base metals assets in...

Mining Capital's Alastair Ford discusses the recent fundraise by Bezant Resources PLC (LON:BZT) and its focus in 2020. Ford says the company's a fair way into what's being described as an important transitioning period. Recently it’s parted with 80% of the sizeable Mankayan copper and gold...

on 13/12/19

2 min read