Bezant Resources PLC (LON:BZT) has completed its due diligence in relation to the Hope copper project in Namibia, and the parties are now proceeding to the administrative process of completing the acquisition.
As announced on June 19, 2020, the acquisition of 100% of Virgo Resources Ltd and its interests in the Hope copper-gold project in Namibia was subject to certain conditions precedent, including completion of due diligence, regulatory consents for Bezant to proceed, and execution.
"The completion of our corporate and technical due diligence on the acquisition of Virgo and its +70% interest in the Hope gold-copper project is an important milestone for Bezant,” executive chairman Colin Bird said in a statement.
“The acquisition is on very favourable terms, of a major copper-gold project in an excellent jurisdiction with a significant JORC resource. As announced on 15 July 2020, there is unrealised gold potential and we already have a clearly identified value creation strategy for the project and are already planning its implementation."