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Pin to quick picksBezant Res Share News (BZT)

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TRADING UPDATES: URA orders Gravelotte parts; Kefi sustains progress

Wed, 06th Sep 2023 15:40

(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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URA Holdings PLC - Africa-focused mineral exploration company - Says significant progress has been made at Gravelotte, its 74%-owned emerald mine in South Africa. Orders have been placed for a custom-made optical sorter following the completion of test work at Angelon Electronics Co Ltd in China. Notes that the costs for an optical sorter from Angelon are significantly cheaper than the costs of one from Germany. A primary crusher and primary sizing screen with associated conveyors and dewatering pumps, are all in the process of being sourced, acquired and installed into the current circuit. Says trial mining and processing activities could potentially re-start as soon as six to eight months from September, subject to schedule.

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Alien Metals Ltd - Australia-focused minerals exploration and development company - Says that exploration review of Pinderi Hills in Australia confirms potential for nickel and copper. Near surface results at the site include 5.2 metres at 2.1% nickel, 166 ounces of silver per tonne. Alien Metals plans to undertake focused exploration activities on additional base metal targets, and has commissioned detailed aerial reconnaissance over the Pinderi Hills area. Chief Executive Officer Troy Whittaker says: "Whilst our priority remains the development of the Hancock iron ore project, it is pleasing to see the detailed work by the geology team to continue focusing on valuable nickel, copper and other base metals targets that have been overlooked by previous explorers. The Elizabeth Hill silver mine is part of the greater opportunity the company must make in identifying significant new discoveries in the unique multi-commodity, mineral-rich province of the Pinderi Hills."

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Atlantic Lithium Ltd - Sydney-based, Africa-focused lithium exploration and development firm - Receives further assay results from the resource and exploration drilling programme underway at the Ewoyaa lithium project in Ghana, West Africa. These show high-grade infill drill intersections at the Ewoyaa South-2 deposit, designed to convert inferred to indicated resources. Additional intersections are reported at the Kaampakrom Ewoyaa Main and Ewoyaa North-West deposits, also outside of the current resource. Executive Chair Neil Herbert says: "A total of 18,500m of infill, extensional and exploration RC drilling has been planned for 2023. These programmes are intended to grow and improve the confidence of the Ewoyaa Resource, in turn, improving the economics of the project."

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Bezant Resources PLC - Botswana-focused copper and gold explorer and developer - Notes positive results of Phase Two metallurgical testing carried out by Wardell Armstrong International on a sample from its 100%-owned Kanye manganese exploration project in Botswana. Testing showed that both grind size and leaching temperature had minimal influence on the final manganese recovery. Says the Kanye manganese deposit demonstrates an excellent overall manganese recovery using moderate leaching conditions compared with benchmarked projects. Further metallurgical test work will be considered at a later stage of project advancement.

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Kefi Gold & Copper PLC - Ethiopia-focused gold and copper company - Completes 13,000 metre drill programme at Jibal Qutman in Saudi Arabia. Trenching and diamond drilling to identify additional resources is ongoing, while metallurgical test work has been completed on oxide ore. Meanwhile, at Hawiah, the ongoing infill and expansion drilling campaign "continues to yield positive results". The programme is designed to upgrade the resource classification to allow for further ore reserves definition.

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Savannah Resources PLC- London-based lithium development company - Lauds progress at its Barroso lithium project in northern Portugal. On the topic of commercial arrangements, says it is in a strong negotiating position and has yet to commit to any offtake arrangements. Adds that, following the endorsement of the project by the Portuguese environmental regulator, the level of strategic partnership interest in the project has "notably" increased. Savannah is currently working to identify a shortlist of potential strategic partners which are willing to assist with the financing of the project's construction. It expects to provide an update on the project's commercial arrangements towards the end of the year.

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Severfield PLC - North Yorkshire, England-based structural steel group - Says that trading in the first five months of the year is in line with expectations, and that its cash and balance sheet position remains strong. Adds that it is pleased with the " continuing high quality of the UK and Europe order book", which was GBP479 million on September 1, down from GBP510 million on June 1. Is continuing to see some large project opportunities in the UK and in continental Europe, supported by the recent acquisition of Voortman Steel Construction. In India, the group's order book has increased to GBP170 million in September from GBP139 million in June. Looking ahead, says that the outlook "remains positive", and that "our businesses are well-positioned".

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By Holly Beveridge, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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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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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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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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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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