Bezant Resources PLC (LON:BZT) responded to media reports in Zambia by telling investors that it has not been served any legal proceedings or restraint orders in relation to the Kalengwa Copper Project.
The media reports questioned the legal ownership of the Large Scale Exploration Licence relating to Kalengwa, in which Bezant holds a 30% interest in and acts as operator.
In a statement, Bezant said: “In Zambia mining licences are issued by the Zambian Ministry of Mines and Mineral Development. The Zambian Mining Cadastre confirms the issue of Large Scale Exploration Licence 24401-HQ-LEL to Kalengwa Processing Zone (KPZ) on 2 April 2019 with an expiry date of 1 April 2023 which covers the commodities cobalt, copper, diamond, gold, iron or, lead, malachite and silver and comprises an area of 974.83 km2.
“As reported in the company's announcement on 27th April 2020 KPZ is a 100% (less one share) Zambian subsidiary of KPZ International Limited (KPZ Int) which the Company has a 30% shareholding in.”