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.
Chief Executive Officer Colin Bird said: "We have continued to advance the project pending the anticipated award of the mining licence. Our time has been well-spent confirming the suitability of Hope & Gorob ore to dry sorting technologies, together with the optimisation of various aspects of the future operation. In the interim, we will continue with essential work largely linked to project development and keep shareholders informed of progress."
Current stock price: 0.024 pence per share, down 2.2% in London on Friday afternoon.
12-month change: down 68%
By Hugh Cameron, Alliance News reporter
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Bezant Res (BZT)