RNS Number: 1577 A Bezant Resources PLC 24 May 2019 24 May 2019. At the AGM, a resolution to approve the reorganisation of the Company's share capital was passed in order to reduce the nominal value of the Company's ordinary shares such that the Company is then able to issue new ordinary shares at a price below £0.02 per ordinary share in the event that the...
Bezant Resources Plc (BZT.L) Announced that it has been granted EIA approvals for the Eureka Project's Exploration Areas, which are subject to certain routine conditions, including submission and implementation of an environmental monitoring plan, will enable exploration drilling to be conducted over the licence areas that the company has determined and selected as having the most prospectively. The approvals provide for a two-year exploration period to 3 May 2021 and permit, inter alia, work on topography, geophysics, soil geochemistry, geological mapping and diamond drilling.
EIA approvals secured today over areas selected by Bezant as the most prospective for copper gold exploration at the Eureka project, Argentina. Pursuing JV strategy to bring in partner to drill. Government of Jujuy supportive of metals exploration and actively trying to invigorate mining activity following new investments/entrants into national mining across other regionns. RNS: The property contains an exploration target (non-compliant and not reported to any CRIRSCO code) of 31.45 Mt at 1.1% Cu for a contained copper content of approximately 260,000 tonnes.” From in-house reports, Codelco estimated a gold resource indicating 600,000 tonnes at 2.7 g/t Au for a total contained gold of 52,000 ounces. Eureka was mined for gold between 1885-1908 and 1950-1960. In the 1970s and 1980s, the mine was worked for both gold and copper. It has been estimated that previous mining recovered approximately 9,000 Oz of gold (70,000 t at 4 g/t) and 2,000 t of
Updated EIA Approvals Granted for the Eureka Project's Exploration Areas, Argentina. Bezant, the copper-gold exploration and development company, is pleased to announce that updated environmental impact assessment approvals permitting certain specified additional exploration work and drilling activity on the most prospective areas of the...
As announced on 26 April 2018, the Company sold its wholly owned subsidiary Ulloa Recursos Naturales SAS through which it held the Group's wholly owned alluvial platinum and gold licences, located in the Choco region of Colombia, and the associated processing plant, mobile test plant and other mining equipment located in the licence area, to Auvert Mining...
Option Agreement for Buffalo Copper/ Gold Project, Zambia. Bezant, the copper-gold exploration and development company, is pleased to announce that it has entered into a binding memorandum of agreement with KPZ International Limited granting the Company a conditional option to acquire a 50 per cent. interest in small scale copper mining licence...
We shall be presenting on Bezant at 1100 this Saturday at the uk investor show, London, in addition to having a stand. Details:
AIM is now our primary listing and will allow us to focus on developing the understanding and economics of the toral lead zinc and silver project in Spain
Bezant article following interview two weeks ago in Philippine\'s largest mining publication, Article page 40, advert page 7. Important to establish ourselves firmly in the local mining environment while conducting work on the ground and clearly state out ambitions for Mankayan
Interesting summary on Copper exploration budgets from S&P\'s new report: \'Copper exploration budgets increased by 22% year over year in 2018, surpassing the global average increase of 20% for all nonferrous commodities. Using data compiled as part of the Corporate Exploration Strategies series, S&P Global Market Intelligence identified 443 companies budgeting a total of US$2.07 billion for copper exploration, compared with 397 companies budgeting US$1.70 billion in 2017. Correspondingly the average spend per company also rose, by almost 10%, to US$4.7 million. Copper prices began a general recovery in late 2016, although too late in the year to be fully realized in 2017 budgets, resulting in a modest 8% increase in allocations for the year. Prices continued to rise through 2017 and into early 2018, spurring a budget increase of US$369.3 million year over year, mostly driven by the junior explorers. This is in contrast to the most popular target for mineral exploration — gold — where budget growth in 2018 was driven mostly by producing companies. We expect copper allocations to increase further in 2019, although not to the same degree as in 2018.\'
Schmidt said while growth in China had stuttered, urbanisation still represented one of the biggest growth drivers over the next decade. \"China is a big offtaker for copper, and I think a lot of analysts underestimate its future growth potential as there will continue to be urbanisation,\" he said. \"A lot of copper investment projects are basically the replacement of current operations. This is why Anglo American made a production decision for Quellaveco in Peru. There are five or six projects like this that can come on stream in the next five years and they will certainly not be enough. We also have expansions planned at Los Bronces and Collahuasi where there is a huge mineral endowment and brownfield potential,\" he said.
Today in Manilla Bezant attended its first Philippines Mining Club Lunch as the newest industry partner to the organisation. The lunch is a formal event attended by senior members of all the major groups operating in the Philippines. A very well put together afternoon with actual content and a genuine forum for an industry working together to normalise domestic regulatory and fiscal framework. Bezant received a generous formal introduction to the assembly with the master of ceremonies focusing on the results of our new economic study released this week (the report’s subject itself, of analysing porphyry’s and maximising payback for reduced Capex being quite topical.). Highlights from the afternoon: -150 people with the CEOS/senior management of the major mining companies -Representatives from Chamber of Mines, Govt. Ambassadors and representatives from overseas, major mining/resources countries -Open and informative presentation by the Head of the Chamber of Mines on the moratorium (on open pit mining), tax changes/proposed legislation, licence granting and conversions, domestic perception and challenge for the industry -A very insightful keynote speech from Bryan Yap of Lepanto, the operations adjacent to Mankayan, including the Far South East project they have with Gold Fields. Porphyry development seen very much as the future for Lepanto and interesting to note the FSE mine plan has also been remodelled to fit a mine rate as low as 3mtpa scaling up over time; reduced Capex the objective. -Interestingly, one of the strategies the Chamber of Mines is employing to demonstrate how mining is integrated into the wider strategic vision of the Philippine’s is specifically through copper; “..push the copper roadmap , as minings linkage to the Build, Build, Build! Program.” - the Presidents significant infrastructure programme now underway (very much the positive legacy initiative) with significant PRC and Japanese backing:
Bezant Resources (BZT LN) 0.115p, Mkt Cap �1.1m – Mankayan projects economics Bezant Resources reports the results of “an independent study assessing the optimisation of potential future mine development for its Mankayan copper-gold project, located on the Island of Luzon in the Philippines”. The study, conducted by Mining Plus Pty and incorporating the 2009, JORC (2004) compliant mineral resource estimate prepared by Snowden Consultants examines 11 different mining options including using an intermediate “stepping stone” phase of sub-level caving as an intermediate phase towards the development of block-caving of the Mankayan copper-gold porphyry. The mineral resource estimate defines 221.6mt classed as indicated at an average grade of 0.49% copper and 0.52g/t gold with an additional inferred resource of 36.2mt at an average grade of 0.44% copper and 0.48g/t gold. Four “representative options” were examined more closely using a copper price of US$3.00/lb and a gold price of US$1250/oz: A 24mtpa twin block-caving plan (taken over two lifts) and costing a total of US$6.356bn and an initial US$1.4bn to deliver a pre-tax NPV8.5% of US$2.06bn and 29% IRR over a 23 years mine life A 12mtpa four stage block caving plan taken over two lifts which costs a total of 6.032bn and an initial US$896m which delivers a pre-tax NPV8.5% of 1.52bn and 27% IRR over a 34 years life; A “Scaled Option” which includes an initial 6mtpa block cave followed by 3 12mtpa block caves which extends mine life to 38 years at an overall capital cost of US$6.2bn but reduces the initial capital cost to US$633m and generates an NPV8.5% of US$1.06bn and an IRR of 21%; and A 6mtpa initial sub-level caving option followed by three 6mtpa block caves with an initial cost of US$529m and an overall capital cost of US$6.019bn which generates an NPV 8.5% of US$562m and IRR of 14% over a 58years mine life. The study recommends further work to develop a pre-feasibility study, including updated cost information. Commenting on the study of what he described as a “major, well delineated copper-gold porphyry style deposit” CEO Laurence Read said that the work by Mining Plus “affords us great confidence that the project lends itself to potential future development by medium size mining companies, as well as the majors, seeking to secure a long-term source of physical copper and gold. The Board remains positive regarding the fundamentals for copper over the next three years and believes that signs of a supply shortfall are already becoming evident." Conclusion: The Philippines has a difficult reputation for large scale mining developments and, at this stage, with each of the main options in the Mankayan study expected to cost in excess of US$6bn and generate NPVs of under US$2bn at a US$3/lb copper price, we imagine that project development may need to identify significant savings to be viable at current commodity prices.
Bezant Resources Plc (BZT.L) Announced the results of an independent study assessing the optimisation of potential future mine development for its Mankayan copper-gold project, located on the Island of Luzon in the Philippines. The study was undertaken by independent consultants, Mining Plus Pty Limited, using prevailing market conditions premised on the Snowden Mining Industry Pty Limited resource estimate prepared in 2009 under JORC (2004) which defined an indicated resource of 1.1 million tonnes of contained copper and 3.7 million ounces of contained gold and an inferred resource of 0.2 million tonnes of contained copper and 0.6 million ounces of contained gold.
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Company Profile

Bezant is an AIM quoted Company with a track record in building significant value in projects from highly cost-effective work programmes. Following our work in delineating mineable reserves at our Mankayan project in the Philippines, leading to a significant return of cash to shareholders, we are now focused on gold-copper exploration and development activities. Rationale:Develop the companies copper gold portfolio to supply industry with the next generation of copper mines

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