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Pin to quick picksBezant Res Share News (BZT)

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AIM WINNERS & LOSERS: Cyanconnode extends gains; Tekmar cost pressure

Thu, 21st Oct 2021 10:51

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday.

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AIM - WINNERS

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Cyanconnode Holdings PLC, up 25% at 18.10 pence, 12-month range 3.65p-18.4p. Extends gains after 26% rally on Wednesday, after Hardman & Co Research published report saying it expects revenue to triple over 2021 to 2023, accompanied by a "strong move into profitability" in 2023.

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Driver Group PLC, up 9.6% at 57.00p, 12-month range 40.25p-62.00p. Expects to report full-year underlying pretax profit in line with market forecasts. "During the financial year just ended, Driver Group continued to perform satisfactorily and successfully managed the uncertainty caused by the Covid-19 pandemic to ensure the business has remained profitable and with a stable cash position," says Chief Executive Mark Wheeler. Business adds it has entered new financial year with "renewed positive momentum".

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Deepverge, up 8.9% at 24.50p, 12-month range 19p-40p. Says division Modern Water gets GBP2.2 million of new orders for newly enhanced monitoring equipment with upgraded software which are being shipped to the UK, India and China to meet customer and partner obligations for delivery in this financial year. "The shipments include upgraded Microtox toxicity monitoring, new models of the Microtox PD range for SARS-CoV-2 and other pathogen monitoring as well as Microsaic mass spectrometer equipment to monitor forever chemicals and contaminants of emerging concern," it says.

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AIM - LOSERS

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Tekmar Group PLC, down 14% at 41.31p, 12-month range 35p-83p. Says supply chain issues and cost control pressures have hit recent trading, and it now expects to report revenue of GBP46 million and adjusted loss before interest, tax, depreciation and amortisation in region of GBP1.2 million for the 18 months to September 30. "The board expects the profitability from the size and nature of contract mix to improve in the current financial year to September 2022, albeit the financial impact of continued disruption to global trade remains harder to quantify at this time," it says.

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Bezant Resources PLC, down 13% at 0.139p, 12-month range 0.12p-0.49p. The copper-gold exploration and development company says GBP1.2 million fundraise was oversubscribed. Places 923.1 million shares at price of 0.13p each. Says proceeds to be used for exploration activities, including on its Hope copper-gold project in Namibia and on exploration and drilling programme in Cyprus.

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W Resources PLC, down 8.0% at 7.18p, 12-month range 6.07p-23.9p. The tungsten, tin and gold mining company says third quarter saw best performance to date at La Parrilla mine in Spain, with tungsten production up 58% quarter-on-quarter to 168.3 tonnes, but says production was hit by "number of challenges" which resulted in an estimated production loss of around 40 tonnes of tungsten concentrate. "A number of power outages were caused by technical problems with the LNG generators. This has been resolved by the supplier after isolating the cause of the stoppages," it says.

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By Lucy Heming; lucyheming@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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IN BRIEF: Bezant Resources extends funding facility repayment

Bezant Resources PLC - explorer and developer focused on a pipeline of copper and gold projects in Africa, South America and Southeast Asia - Confirms that it has agreed to extend the repayment date for GBP700,000 drawn down under an unsecured convertible loan funding facility with Sanderson Capital Partners Ltd, which it entered on November 22, 2021. The GBP700,000 drawdown is now repayable by July 31, 2025, and convertible at 0.06 pence per share. No further amounts can be drawn down under the facility.

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9 Feb 2024 14:24

IN BRIEF: Bezant Resources advances Namibian copper-gold project

Bezant Resources PLC - Explorer and developer focused on a pipeline of copper and gold projects in Africa, South America and Southeast Asia - Completed an environmental and social impact assessment at the Hope & Gorob copper-gold project in central Namibia, in which it holds a 70% stake. Supplementary work has also been undertaken, Bezant says, which will help to optimise the final mine design and expedite production at Hope & Gorob. The company is also in negotiations regarding the mine's initial development, which also relate to project-based financing for Hope & Gorob. According to an October mineral resource estimate, the mine contains 15 million tonnes of ore at 1.2% copper and a projected average grade of 0.4 grams of gold per tonne.

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9 Feb 2024 10:26

Bezant progresses towards mining licence at Hope and Gorob

(Sharecast News) - Bezant Resources updated the market on its Hope and Gorob copper-gold project on Friday, located within EPL 5796 in central Namibia.

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4 Dec 2023 11:40

IN BRIEF: Bezant unleashes 3 billion new shares, stock falls

Bezant Resources PLC - Botswana-focused copper and gold explorer and developer - Raises GBP800,000 from issuing 3.20 billion new shares at 0.025 pence each. Fundraise includes placing of 3.03 billion shares for GBP758,000 and subscriptions for 168.0 million shares for GBP42,000 in total. Executive Chair Colin Bird subscribed for 60.0 million shares at GBP15,000 while Finance Director Raju Samtani subscribed for 48.0 million at GBP12,000, totalling 3.38% of the fundraising amount. Bezant will mainly use proceeds for work on the Hope & Gorob project in Namibia, but some funds will go towards the Kanye project in Botswana, Mankayan in the Philippines and Eureka in Argentina. Adds that it recently completed ore sorting test work at Hope & Gorob.

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TRADING UPDATES: Bezant optimistic after Hope & Gorob estimate

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27 Oct 2023 11:42

Bezant reports mineral resource estimate for Hope and Gorob

(Sharecast News) - Bezant Resources unveiled the results of an updated indicated and inferred mineral resource estimate (MRE) for the Hope and Gorob copper project on Friday, located within EPL 5796 in Namibia.

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IN BRIEF: Bezant Resources reports encouraging results in Botswana

Bezant Resources PLC - copper and gold explorer and developer - Reports encouraging results of Phase 1 metallurgical testing carried out by Wardell Armstrong International on a sample from its 100% owned Kanye manganese exploration project in Botswana. Explains the primary objective of the work was to investigate the amenability of extracting manganese from the Kanye mineralisation by sulphuric acid leaching. Notes sulphuric acid leaching successfully demonstrates an amenability to extract manganese from the Kanye sample into solution, with recoveries of up to 99.4% manganese achieved at a temperature of 60 degrees centigrade. Adds sulphur dioxide addition was found to have a direct correlation to the overall manganese recovery. Based on the encouraging initial results, engages WAI to carry out Phase 2 test work. Colin Bird, executive chair says: "The next phase will move towards commercial optimisation of the leaching parameters, with specific emphasis on limiting sulphuric acid consumption."

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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Caerus Mineral Resources loss widens during tumultuous 2022

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Bezant Resources swings to annual profit; notes volatile copper price

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15 Jun 2023 19:56

IN BRIEF: Bezant agrees extension to loan facility repayment date

Bezant Resources PLC - copper and gold explorer and developer - Agrees to extend the repayment date for the GBP700,000 drawn down under the unsecured convertible loan funding facility entered into with Sanderson Capital on November 22 2021. This will now be repayable by December 23 2024 and convertible at the fixed price of 0.08 pence per share. Pays a loan extension fee via a GBP70,000 payment to be settled by issue of 87.5 million shares at the new conversion price and the issue of 437.5 million warrants over shares exercisable at 0.12 pence per share.

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15 Jun 2023 11:22

Bezant extends repayment on Sanderson Capital facility

(Sharecast News) - Copper-gold explorer and developer Bezant Resources announced an agreement with long-term shareholder Sanderson Capital Partners to extend the repayment date on a £0.7m unsecured convertible loan funding facility.

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