REG - Bezant Resources PLC - Prepayment Facility and concentrate offtake agreed

Bezant ResourcesAnnouncement

31/10/2025 11:45

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RNS Number : 7239F  Bezant Resources PLC  31 October 2025

 

 

31 October 2025

 

Bezant Resources PLC

("Bezant" or the "Company")

 

Hope & Gorob Project Prepayment Facility

and concentrate Offtake term sheet agreed

 

Bezant Resources ("Bezant" or the "Company") is pleased to inform shareholders
that it has entered into binding term documentation for a conditional
prepayment facility of up to USD 7 million and an associated concentrate
offtake agreement with a globally recognised commodities trading company (the
"Financier"), to support the development of the Hope and Gorob copper project
in Namibia ("Financing and Offtake Agreements").

 

Highlights

·    The Financing and Offtake Agreements are subject to completion of the
acquisition of a 90% shareholding in Namib Lead and Zinc Mining (Proprietary)
Limited ("NLZM") (as announced by the Company on 14 August 2025), customary
closing (including completion of standard final due diligence) and execution
of full-form definitive agreements.  The Financier will be named when the
full form definitive agreements are signed.

 

·    The prepayment facility is structured as a senior secured facility
made available in tranches totalling up to USD 7 million. An initial advance
of USD 3 million is expected to be made at closing, with the balance of up to
USD 4 million to be disbursed at agreed intervals prior to commissioning,
subject to satisfaction of agreed drawdown conditions.

 

·    The prepayment facility has been agreed in parallel with a life of
mine 100% concentrate offtake agreement on competitive rates and terms
customary for a project of this type and scale.

 

Colin Bird, Executive Chairman of Bezant, commented "We are pleased to have
agreed terms, subject to standard due diligence and final closing conditions
terms, both a concentrate offtake and structured prepayment facility with a
globally recognised commodities trader. The framework ideally suits our
project development schedule and, is an important part of our financing
arrangements for the advancement of the Hope and Gorob Project including the
downpayment to the Vendor of the NLZM Processing Plant, payment of deposits to
suppliers of key components of both the NLZM plant upgrade and the
construction of the mine site crushing and ore sorting facility.".

 

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).

 

 

For further information, please contact:

 

 Bezant Resources Plc

Colin Bird

                                          +27 726 118 724
 Executive Chairman

 Beaumont Cornish (Nominated Adviser)       +44 (0) 20 7628 3396

Roland Cornish/Asia Szusciak

 Shard Capital Partners LLP (Joint Broker)  +44 (0) 20 7186 9952

 Damon Heath

 Novum Securities Limited (Joint Broker)    +44 (0) 20 7399 9400

 Jon Belliss

or visit http://www.bezantresources.com (http://www.bezantresources.com)

 

Forward-looking statements

This announcement contains forward-looking statements relating to the
prepayment facility, offtake agreement and the development of the Hope &
Gorob Project. Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause actual results, performance or
achievements to be materially different from those expressed or implied. These
statements are based on current expectations and assumptions and speak only as
of the date of this announcement. The Company undertakes no obligation to
update or revise any forward‑looking statements, except as required by
applicable law or regulation.

 

Disclaimer

Beaumont Cornish Limited ("Beaumont Cornish"), which is authorised and
regulated in the United Kingdom by the FCA, is acting as Nominated Adviser
("Nomad") to the Company in connection with the matters contained in this
announcement, and will not be acting for any other person or otherwise be
responsible to any person for providing the protections afforded to clients of
Beaumont Cornish or for advising any other person in respect of the matters
set out in this announcement or any transaction, matter or arrangement
referred to in this announcement. Beaumont Cornish's responsibilities as the
Company's Nomad are owed solely to London Stock Exchange and are not owed to
the Company or to any Director or to any other person in respect of his or her
decision to acquire any shares in the Company. Furthermore, Beaumont Cornish
has not approved or authorised the release of this announcement in whole or in
part, directly or indirectly into The United
States, Canada, Australia, Japan or The Republic of South Africa or any
other jurisdiction in which such release, publication or distribution would be
unlawful.

 

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