Member Info for Benhowell459

Thanks howezap. Good to know I wasn't the only one!

Hi all,

My Friday night consisted of trawling through the Bezant website. (nothing else to do!)

I have a small holding here at 0.27 but will at some point look to top slice xtr in here. I have a couple of questions though...

We acquired only 30% of kalengwa from KPZ and are required to spend a certain amount to get that 30%. I've been reading the website and I'm still not sure who would be responsible for funding thereafter?
Future funding of KPZ: If, in addition to the Drilling Expenditure, Bezant and the Existing Shareholders agree that any further money is required by KPZ then i) if such additional money is to be provided by way of debt, then such money will be borrowed by KPZ (and not by Bezant or the Existing Shareholders); and ii) if the additional money is to be provided by way of equity, then subscriptions will be for ordinary shares in KPZ Int and KPZ Int will then, in turn, subscribe for ordinary shares in KPZ and, in either case, Bezant will use its reasonable endeavours to procure such additional funding.

Also, diamond drilling is not cheap. Will the need for a placing in 3-6 months time be negated by Mankayan coming good? Any thoughts on the funding issue would be appreciated.

Thanks

sorry lloyd but it's go nothing to do with other companies. Each company is different, has different balance sheets and assets at their disposals. Would you care to provide any evidence or information as to why it CANNOT hit 30p?

Several on here have done a break down using price of copper, tonnage at Racecourse, etc. to suggest why this COULD hit 30p. Your post is absolutely lacking in any information whatsoever.

Same here Andrew. Holding for the AA buyout celebratory 60p party. Hopefully it will be late June and we can celebrate properly!

On another note, we have 3 proper dimensions at Racecourse. I would love Colin to use 2-3 drills to test out Footrot!

I'd guess between 6.5 and 7. Ill go for 6.7. Wouldn't be surprised if it spikes to 8 then retraces to 7 then closes at 7.5. Been a strange week!

sp jumped up at the close according to google. Back up to 6p

RNS would be lovely tomorrow - nerves are fraying slightly despite my low average and my trust in CB!

Thanks ST, good to know. Fingers crossed CM puts forward an enticing proposal.

Might be a silly question but the ones I've seen on the list are Aussie based. Are we absolutely sure UK based companies can access this funding?

Friday would mark 2 weeks of drilling in mineralisation. I think that would blow any previous estimates out of the water. CB could name his price for Racecourse!

FWIW, I do think we need an update tomorrow and will get one.

I'm absolutely astonished we're supposedly still drilling. Like others I was hoping we would keep drilling until last Friday which would give 7 days of mineralisation from 310m.

IF we are still in mineralisation, this just beggars belief. Either we have an absolute monster (one system), they've continued drilling in an out of mineralisation to see if they hit other porphyry fingers OR something has gone awry. (Prove us wrong Colin!)

I no longer know what to expect. All very exciting though!!

I don't know enough about alkane. Why has Alkane's sp halved since November?

Annual target of 6,000 tonnes which equates to 48m. Xtract get 33% of net profits which is 16m minus expenditure per year. That would fund a few drills! Also think Bezant have a slice of the pie so hopefully Colin gets a move on and hits two birds with one stone!

I think this is the issue that prospective shareholders don't see with the AA buy back of EL5574. If we don't hit 2m with Racecourse, we certainly will with Racecourse North, Footrot, Daisy Springs and the southern intrusions all of which are located within EL5574. I have been led to believe the buy back is for the whole licence of EL5574 and not just Racecourse, although annoyingly the terms are used interchangeably.

It will take a bit more time to sure up Footrot etc but indications of more copper won't take long imo.

I think we're safe to assume 7 days of mineralisation (to a point - 0.15%+ perhaps maybe in an out of mineralisation, one finger to another)

Excellent day. First time I've thought that with no news given!

Ditto that George, JDAU and CE you have my curiosity!

Good lord.

Tesla are currently valued at 766bn. I'd expect them to be more than a one trick pony.

N4P are valued at 20m. A 20m company doesn't need to have more than Nuvec. BUT for what it's worth they have potential to be tapping into two multi billion pound sectors with nuvec. It's more of a risk than Tesla but far more reward if it comes off...

(The two companies are totally incomparable so don't know why it went down that route...)

Shorn, completely agree. We have proved the existence of copper and it would absolutely be worth a punt from a major already in the area, especially if they don't need to invest in infrastructure.

Caterham, I think you make a valid point about John Cronford's article. He notes:

"That was when the copper price was at $3/lb (and had been $2/lb, 18 months previously) compared with $3.5/lb today, so Racecourse could be more economic at a smaller size. On the other hand, AA has its own list of priorities and opportunities which will have changed, so it can’t be taken for granted that it would still be interested."

The price rise for copper to over 8k is hugely significant for us drilling a porphyry system. Grades don't have to be great anyway but the higher price just gives us that extra bit of margin if the grades are on the lower side of average. I don't think John explores that enough. Investors see the part about it maybe not being enough and also about AA potentially not being insterested (!?) and subsequently jump ship.

One side note. I read on one board (may even have been here) a post about AIM investors /traders jumping around trying to find the next bagger. I.e. We had them here when we were up at 7/8/9p because we had daily drill announcements. Some of these investors don't have the patience to even read the RNSs in full let alone wait for a whole drill programme to finish. One poster (I won't mentioned names) even asked why the sp wasn't still going up at 8.5p and moaned about buying in at the spike. My point is we may have to wait for the news to either excite the crowd OR confirm to the institutions/funds that we have what we and CB think we have. May be a few weeks yet.

Beat me to it Steve. I'm hoping we get one more day and an RNS tomorrow afternoon. I think that would put it beyond doubt that we have a massive system that is economical, especially bearing in mind the rising copper price. Obviously we aren't entirely sure of grades or system size but I'm fairly confident we are very nearly at a point where AA or others will want a piece of the action.

Unless an RNS states otherwise, we can assume it is still in mineralisation and has been since Friday. No news is good news.