REG - Bezant Resources PLC - Mankayan Project Update

Bezant ResourcesAnnouncement

27/03/2023 12:00

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RNS Number : 3346U  Bezant Resources PLC  27 March 2023

27 March 2023

Bezant Resources Plc

("Bezant" or the "Company")

Mankayan Project Update

 

Bezant (AIM: BZT), the copper-gold exploration and development company,
 further to its announcements dated 1 March 2023 and 26 October 2022
regarding the conditional share purchase agreement (the "SPA") to exchange its
27.5% shareholding in IDM Mankayan Pty Ltd ("IDM Mankayan") for a 26.36%
shareholding in IDM International Limited (ACN 108029198) ("IDM
International") confirms that at IDM International's extraordinary general
meeting on 24 March 2023 all resolutions to approve the SPA and the
acquisition by IDM International of the shares of the other shareholder of IDM
Mankayan were passed and all conditions in relation to the SPA will have been
met.  Completion of the SPA is anticipated to occur in the coming 7 days.

 

As previously reported; IDM International, through Crescent Mining Development
Corporation's ("Crescent"), continue to make very good progress on initial
Pre-Feasibility Studies on the Mankayan copper-gold project in the Philippines
since IDM Mankayan acquired its interest in the Mankayan project in October
2021; and going forward, IDM International and Crescent, along with their
various consultants and advisors, intend to complete a full Pre-Feasibility
Studies during 2023 and 2024 with the aim of presenting the Mankayan Project
as a globally significant copper-gold project at a time when the supply-demand
gap for copper is expected to be large as the world transitions to
electrification.

 

 

For further information, please contact:

 Bezant Resources Plc

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

Roland Cornish/Asia Szusciak

                                       +44 (0) 20 7628 3396

 Novum Securities Limited (Broker)

 Jon Belliss                             +44 (0) 20 7399 9400

Beaumont Cornish (Nominated Adviser)

Roland Cornish/Asia Szusciak

 

 

+44 (0) 20 7628 3396

Novum Securities Limited (Broker)

Jon Belliss

 

 

+44 (0) 20 7399 9400

 

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).

 

 

 

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