Mankayan Project Update - Visible Gold Discovered

Bezant Resources

05/03/2025 09:11

RNS Number : 4529Z

Bezant Resources PLC

05 March 2025

 

                                 

5 March 2025

Bezant Resources Plc

("Bezant" or the "Company")        

Mankayan Project Update

Visible gold discovered above high grade Cu-Au Porphyry

 

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 5 March 2025 released an announcement that visible gold has been identified in a recently completed diamond drillhole at the Mankayan Project.

 

Please follow the link to Blackstone's announcement titled "Visible Gold Discovered above High Grade Cu-Ay Porphyry" as published on ASX: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02921220-6A1254205

 

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.

 

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