Bezant Resources (LON:BZT) - Copper in the Philippines

Thursday, Oct 22 2009 by

Oct 22nd 2009 - Edison Investment Research today published a report on Bezant Resources (BZT.L, LSE:BZT, LON:BZT) entitled "Copper In The Philippines". In summary, the report says:

With a market capitalisation of just £9m, AIM-listed Bezant Resources trades at a 48% discount to our valuation of its flagship asset, a 40% interest in the Mankayan porphyry copper-gold deposit. Despite this, the company also has an option to acquire the remaining 60% for c US$40,000. Based on a comparison of Bezant’s listed peers, we value 100% of the deposit at US$70m, which represents a 23% discount to the value implied by Zijin Mining’s November 2007 offer for a similar deposit nearby.

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