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.

About Edison Investment Research

Edison Investment Research


Edison Investment Research is a leading international investment research company. It has won industry recognition, with awards both in the UK and internationally. The team of 95 includes over 60 analysts supported by a department of supervisory analysts, editors and assistants. Edison writes on more than 400 companies across every sector and works directly with corporates, fund managers, investment banks, brokers and other advisers. Edison’s research is read by institutional investors, alternative funds and wealth managers in more than 100 countries. Edison, founded in 2003, has offices in London, New York and Sydney and is authorised and regulated by the Financial Services Authority ( more »