REG - Bezant Resources PLC - Hope & Gorob Mine Planning Update

Bezant ResourcesAnnouncement

30/01/2025 07:00

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RNS Number : 1614V  Bezant Resources PLC  30 January 2025

30 January 2025

Bezant Resources PLC

("Bezant" or the "Company")

 

Hope & Gorob Mine Planning Update

 

Following the granting of Mining Licence M246, subject to statutory approval
(the "Mining Licence"), and confirmation of the renewal of adjoining
exploration licences, including EPL 5796 surrounding the Mining Licence,
Bezant Resources ("Bezant" or the "Company") has continued to move the Hope
& Gorob Project towards development-ready status pending the granting of
an Environmental Clearance Certificate ("ECC") for which the Company is
awaiting approval.

 

During this intervening period whilst the Company awaits the granting of the
ECC, Bezant is using the time to refine and update both technical and
contractual matters aimed at improving anticipated processing recoveries, mine
scheduling and cash flow projections.

 

Highlights

 

·    The Company has negotiated access to a Namibian-based ore sorter unit
with the specifications corresponding in size, throughput and sensor types to
the equipment selected for the Hope & Gorob ore sorting.

 

·   Commencement of optimisation of ore sorting recoveries by a leading
provider of ore sorting solutions. To this end Bezant has supplied a one tonne
ore sample obtained from its recently completed drilling programme at Hope.

 

·    Optimisation results will inform the financial model as to the
anticipated cash flow relative to run of mine ore upgrade and ore sorter
recovery associated with multiple variable sensor testing.

 

·    Encouraging pricing meetings undertaken with contractors responsible
for drilling and blasting, in-pit mining and haulage and outbound logistics
for the transport and delivery of pre-concentrate to the copper concentrator
for the open pit mining at Hope.

 

·    Ongoing negotiations regarding heavy plant and equipment to be used
for mining and ore - waste haulage.

 

 

Colin Bird, Executive Chairman of Bezant, commented "Development of a
metallurgically simple copper - gold resource amenable to ore sorting and
modest capex with a 5 - year open pit starter ore body would be an ideal asset
for the Company at a time when my belief is that the copper price has the
potential to fluctuate between US$8,500 and US$11,000 per tonne. The excellent
work of our highly skilled and experienced external contractors and advisers
gives us confidence in our ability to develop Hope & Gorob. We look
forward to notifying the market of the receipt of the ECC and the next stage
of development of the mine."

 

Bezant has commenced a programme of detailed optimisation of ore sorting
recoveries for a variety of sensor responses for the Hope & Gorob Project.
A one tonne sample of fresh mineralisation has been delivered to a Namibian
testing facility where an ore sorting unit with dimensions, throughput
capacity and ore sorting sensors similar to the unit selected for Hope &
Gorob is currently available for use. Access to equipment to undertake
advanced analysis and the refinement of optimisation ahead of Project
construction is an opportunity not to be missed.

 

The Company is also pleased to confirm pricing meetings have been held on-site
with Namibian-based selected contractors who will be responsible for drilling
and blasting, in-pit mining and haulage and outbound logistics for the
transport and delivery of pre-concentrate to the copper concentrator for the
open pit mining at Hope.  Discussions specifically related to detailed
costing and manpower requirements consistent with the advanced stage of
development of the Project.

 

The Company has also agreed with the same contractors, on the quantity and
type of heavy plant and equipment to be utilised during the first 4 to 5 years
of production.

 

Further detail on the Project can be obtained from an independent report
generated by Sound Mining and announced on 15 November 2024. The report can be
accessed from
http://www.rns-pdf.londonstockexchange.com/rns/4529M_1-2024-11-15.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/4529M_1-2024-11-15.pdf)

 

 

 

For further information, please contact:

 

 Bezant Resources Plc

+44 (0) 20 3416 3695
 Colin Bird Executive Chairman
 Beaumont Cornish (Nominated Adviser)       +44 (0) 20 7628 3396

Roland Cornish / Asia Szusciak
 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

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 (http://www.bezantresources.com)

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK Domestic Law pursuant to the Market
Abuse (Amendment) (EU Exit) regulations (SI 2019/310).

 

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.

 

Forward Looking Statements:

Certain statements in this announcement are or may be deemed to be forward
looking statements. Forward looking statements are identified by their use of
terms and phrases such as ''believe'' ''could'' "should" ''envisage''
''estimate'' ''intend'' ''may'' ''plan'' ''will'' or the negative of those
variations or comparable expressions including references to assumptions.
These forward-looking statements are not based on historical facts but rather
on the Directors' current expectations and assumptions regarding the Company's
future growth results of operations performance future capital and other
expenditures (including the amount. Nature and sources of funding thereof)
competitive advantages business prospects and opportunities. Such forward
looking statements reflect the Directors' current beliefs and assumptions and
are based on information currently available to the Directors. A number of
factors could cause actual results to differ materially from the results
discussed in the forward-looking statements including risks associated with
vulnerability to general economic and business conditions competition
environmental and other regulatory changes actions by governmental authorities
the availability of capital markets reliance on key personnel uninsured and
underinsured losses and other factors many of which are beyond the control of
the Company. Although any forward-looking statements contained in this
announcement are based upon what the Directors believe to be reasonable
assumptions. The Company cannot assure investors that actual results will be
consistent with such forward-looking statements.

 

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