Mankayan Project Update

Bezant Resources

03/04/2025 11:50

RNS Number : 5604D

Bezant Resources PLC

03 April 2025

 

                                 

3 April 2025

Bezant Resources Plc

("Bezant" or the "Company")        

Mankayan Project Update
 Blackstone Unlocks High Grade Copper-Gold at Mankayan

 

Bezant (AIM: BZT), the copper-gold exploration and development company, announced on 6 February 2025 that ASX listed Blackstone Minerals Ltd ("Blackstone") had announced a proposed merger (the "Proposed IDM Merger") with IDM International Limited ("IDM") through which the Company holds its interest in the Mankayan Copper Gold project in the Philippines ("Mankayan Project"). Blackstone have on 3 April  2025 released an announcement that it has "received assay results from drillhole BRC-60, drilled in 2013 by Goldfields Limited . This previously unreleased drillhole is the deepest completed to date at the world-class Mankayan Copper-Gold Porphyry project. The project is strategically located 2.5km along strike of the Lepanto gold mine and Far Southeast project in the Philippines. The project is currently the subject of a merger between Blackstone and IDM International (_"IDM_")."_ _

 

Please follow the link to Blackstone's announcement titled "Blackstone Unlocks High Grade Copper-Gold at Mankayan " as published on ASX: https://announcements.asx.com.au/asxpdf/20250403/pdf/06hbcm7tb06r31.pdf

 

Under the Proposed IDM Merger IDM shareholders will receive 7.4 Blackstone shares for every 1 (one) IDM share they hold.   

 

If the Proposed IDM Merger is completed Bezant will receive 148,985,657 Blackstone shares and 2,543,750 options to acquire Blackstone shares at AUD0.06 expiring on 5 February 2029 for its IDM shares and IDM options.

 

 

For further information, please contact:

Bezant Resources Plc
Colin Bird Executive Chairman
+44 (0) 20 3416 3695
Beaumont Cornish (Nominated Adviser) 
 Roland Cornish / Asia Szusciak
+44 (0) 20 7628 3396
Novum Securities Limited (Joint Broker)
Jon Belliss
+44 (0) 20 7399 9400
Shard Capital Partners LLP (Joint Broker)
Damon Heath
+44 (0) 20 7186 9952

 

or visit http://www.bezantresources.com

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 
  END

 

 
UPDSSFFSDEISELL