REG - Bezant Resources PLC - Mankayan Project Update

Bezant ResourcesAnnouncement

03/04/2025 12:00

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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
(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                       +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)

 

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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