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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
28 Nov 2018 14:18

Bezant Resources Commissions New Mining Study At Mankayan Project

LONDON (Alliance News) - Bezant Resources PLC on Wednesday said it commissioned a new mining study to examine mining options in relation to distinct high-grade areas within the Mankayan project, a

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28 Sep 2018 12:48

Bezant Resources Loss Narrows, Focuses On Mankayan And Eureka

LONDON (Alliance News) - Bezant Resources PLC on Friday reported a slightly narrowed interim loss as it focuses on its Mankayan and Eureka copper-gold assets.The company posted a pretax of

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30 May 2018 12:56

Bezant Loss Narrows On Reduction In Mankayan Project Impairment

LONDON (Alliance News) - Bezant Resources PLC said on Wednesday it had recorded an annual loss more than nine times less than the previous year due to an impairment reduction.Bezant's a

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29 May 2018 11:24

Bezant Resources Gets Mankayan Production Sharing Agreement Renewal

LONDON (Alliance News) - Bezant Resources PLC on Tuesday said its mineral production sharing agreement for the Mankayan project in the Philippines has been renewed to April 2020.The is held

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10 May 2018 14:18

Bezant Resources Finishes Review, Philippines Mine "World Class" Asset

LONDON (Alliance News) - Copper-gold exploration company Bezant Resources PLC said Thursday it has completed its "in-depth internal review process" across all of its assets.At its

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26 Apr 2018 13:59

Bezant Resources Sells In Colombia To Focus On Philippines, Argentina

LONDON (Alliance News) - Bezant Resources PLC said Thursday it has sold its platinum and gold licences located in the Choco region of Colombia for USD500,000 in order to focus on copper and gold a

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30 Nov 2016 15:44

Bezant Resources obtains gold and platinum at Columbian plant

(ShareCast News) - Bezant, an AIM listed mineral exploration and development company, has recovered initial gold and platinum via its exploration processing plant on site at the FKJ 083 license area in the Choco Province of Colombia. The company holds options over a land package, roughly 2,600 hecta

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17 Oct 2016 11:15

Bezant completes Colombian Mining Data S.A. acquisition

(ShareCast News) - Mineral exploration and development company Bezant has completed the acquisition of 100% of Colombian Mining Data S.A. (CMD), formerly named Birkenhead Estates S.A. CMD is a special-purpose vehicle that holds certain proprietary geological information and other data, and intellect

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19 Sep 2016 15:23

Bezant Resources raises £1.189m from 38.4m shares

(ShareCast News) - Mineral explorer Bezant Resources raised £1.189m through a share placement and subscription on AIM to fund further development at its platinum and gold mines in the Choco region in Colombia The miner raised £1.189m, before expenses, by a placement through Beaufort Securities, of 3

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11 Aug 2016 09:43

WINNERS & LOSERS SUMMARY: DFS Furniture Is Sitting Comfortably

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11 Aug 2016 09:15

Bezant Resources Eyes Fundraise To Progress Choco Mine Plan (ALLISS)

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29 Mar 2016 08:43

Bezant Resources Keeps Control Of Costs As It Focuses On Mankayan Sale

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27 Jan 2016 10:05

Bezant Resources Exercises Option To Buy Leewards Islands Exploration (ALLISS)

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21 Jan 2016 09:18

Bezant Resources Gets Extension To Deal For Colombia Licenses

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