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Pin to quick picksBezant Res Share News (BZT)

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Bezant Resources Reviews Colombia, Issues Shares To Pay Fees (ALLISS)

Thu, 22nd Mar 2018 14:59

LONDON (Alliance News) - Bezant Resources PLC said Thursday it has settled fees to current and former directors while other directors have agreed to waive GBP37,558 of fees.

Chief Executive Laurence Read and former Chairman Edward Nealon have agreed to waive the fees "to preserve the company's cash resources".

It has issued 6.7 million new shares to former Chief Executive Bernard Olivier in lieu of GBP30,000 of fees due. Further, unnamed directors have converted outstanding fees of GBP31,233 to 6.9 million new shares, and current management has agreed to convert GBP22,217 of fees to 4.9 million new shares.

All shares were converted at 0.45 pence per share, a 7.1% premium to its 0.42p closing price on Wednesday. Shares were down 3.0% on Thursday at 0.40p.

Furthermore, Bezant has issued 12.4 million new shares to Verona Investment Group Inc in place of GBP55,800 of fees owed. An obligation to issue a further 15.0 million shares as deferred consideration for the acquisition of Kellstown Investments Corp has been terminated, it added.

Bezant expects the total of 30.9 million new shares to be admitted to trading on Wednesday next week, following which it will have 776.6 million shares in issue.

Bezant added it is to renew focus on its copper-gold exploration assets in the Philippines and Argentina, while it is to re-evaluate its position of the Choco gold-platinum project in Colombia.

Executive Chairman Colin Bird said: "Having recently joined Bezant's board as chairman, I fully support the geological and corporate review work being undertaken. Periodically, companies must undergo a rigorous examination of their strategic focus and operations and now is an opportune time for Bezant.

"I believe that the fundamentals for copper have seldom been so good and that the suite of existing assets held by Bezant presents an enormous opportunity for shareholders. Once our review process, including site visits, has been fully completed, we will provide a further update on our intended focus and future direction."

More News
13 May 2024 13:37

Bezant Resources begins Kanye manganese project geophysical surveying

(Alliance News) - Bezant Resources PLC on Monday said it began geophysical surveying at the Kanye manganese project in Botswana to assist in extending the footprint of the deposit.

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13 May 2024 12:32

Bezant Resources starts geophysical surveying at Kanye

(Sharecast News) - Bezant Resources announced the start of geophysical surveying at the Kanye battery manganese project in Botswana on Monday, following positive outcomes from phase two metallurgical test work.

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14 Mar 2024 18:26

TRADING UPDATES: Horizonte subsidiary hit with debt injunction

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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5 Mar 2024 14:19

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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30 Oct 2023 15:56

TRADING UPDATES: Bezant optimistic after Hope & Gorob estimate

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

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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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29 Sep 2023 14:51

EARNINGS AND TRADING: Equipmake strikes GBP1.8 million London bus deal

(Alliance News) - (Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

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6 Sep 2023 15:40

TRADING UPDATES: URA orders Gravelotte parts; Kefi sustains progress

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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24 Jul 2023 20:15

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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21 Jul 2023 15:38

UK shareholder meetings calendar - next 7 days

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discoverIE Group PLCAGM
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TClarke PLCGM re necessary resolutions to shareholders for placing of new ordinary shares
WANdisco PLCGM re increase of share capital
Tuesday 25 July 
ADM Energy PLCAGM
Atome Energy PLCAGM
B&M European Value Retail SAAGM
GlobalData PLCGM re capital reorganisation
JZ Capital Partners LtdAGM
MITIE Group PLCAGM
Molecular Energies PLCAGM
Polymetal International PLCAGM
Safestay PLCAGM
Verditek PLCAGM
Vodafone Group PLCAGM
Wednesday 26 July 
Aquila Services Group PLCAGM
Blackstone Loan Financing LtdAGM
BP Marsh & Partners PLCAGM
Eurasia Mining PLCAGM
Molten VenturesAGM
Motorpoint Group PLCAGM
NewRiver REIT PLCAGM
Ninety One PLC and LtdAGM
Norcros PLCAGM
Oracle Power PLCAGM
Palace Capital PLCAGM
ProBiotix Health PLCAGM
Seeen PLCAGM
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Triad Group PLCAGM
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Bezant Resources PLCAGM
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Northern 2 VCT PLCGM re party transaction
Polymetal International PLCGM re delisting
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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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12 Jul 2023 12:47

Caerus Mineral Resources loss widens during tumultuous 2022

(Alliance News) - Caerus Mineral Resources PLC on Wednesday said its loss widened in 2022, citing a "tumultuous year".

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30 Jun 2023 16:22

Bezant Resources swings to annual profit; notes volatile copper price

(Alliance News) - Bezant Resources PLC on Friday reported an annual swing to a profit amid an increase in the value of an investment, as it emphasised a higher copper price.

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