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Mr T,

Completely agree! the last update we had on mankayan was march 2023! Mention of it in the half year report but no new information. The last we heard they were talking to financing houses to finance the PFS- a PFS can be completed in 6 months as it’s mainly a desktop study. Something isn’t quite right

Mr T,

I understand they can’t give out information that’s not in the public domain but I’ve found information that’s in the public domain. For example cresent are doing the required public works- building roads in mankayan, it’s on their Facebook page. A quick search and you can find all the documents for epl 7170 re application. So there is information in the public domain but the company keep shareholders in the dark. It’s all about consistent news on aim- unfortunately the company only seems to release news when they are planning to raise then its silence again.

I have emailed the company multiple times and no one has responded- there should be news on an in house mineral resource estimate for Kanye, mining license at hope, EPL 7170 being renewed which was applied for in September/October last year, waiting on a review of that according to the ECC website. News on mankayan? PFS surely must be on the way to being finished, it’s dreadful comms from the company- does anyone actually work there?

Max- didn’t rod keep his incentives when he resigned? He’s still got all his options

Silver,

Things should be happening with mankayan, like I said cresent have been doing the community work. They were supposed to be talking to financiers regarding financing the PFS, did they get it? Who’s conducting the study? There SHOULD be a lot going on, if not then why not

Mr T,

Funnily enough after my post I received an email from the company clarifying if they were undertaking PFS of DFS studies. ( so they clearly monitor this board) here is the reply I received.

‘Whilst some jurisdictions require a full JORC compliant Prefeasibility study and/ or  Feasibility studies be submitted to the mining department Namibia does not.   This is why the Company has not committed to producing a full JORC-compliant Prefeasibility study and/ or  Feasibility study. This does not mean that the Company has not been undertaking work and studies in relation to Modifying Factors (see definition below) to support the submissions to the Namibian Ministry and for the Company’s own assessment and development of the Hope and Gorob project some of this ongoing work was referred to in the 4 December 2023 RNS.

 

FYI using JORC terminology the Modifying Factors that are used to convert Mineral Resources to Mineral Reserves include but are not restricted to mining, processing, metallurgical, infrastructure, economic, marketing, legal, environmental social and government factors’

Whilst the resource update was good from Addison there were a few points that bothered me- mostly that they would need 3500m of drilling because of the poor smeared data from previous drilling and that parts of the model were based off 1 drill hole.

Colin says a mine can be in production in 2024- but do you also remember when he said to the shareholders group that ‘we would be mining in 2023’ or ‘ we could expect a trade sale or ipo of mankayan in early 2023’ so unfortunately I’m sceptical.

I think the biggest problem with this company is transparency and updates or lack there of. If you do the research you can see that cresent are doing community work in mankayan- why not disclose this to shareholders. The epl 7170 in Namibia expired and they are doing the work necessary to get it renewed- why not inform shareholders. I think this is the reason they didn’t use the previous fund raise for drilling because there is a target on epl 7170 but it expired.

There are plenty of companies on aim who lay out what they are going to do and then give regular updates on how it’s progressing- most of Bezants updates this year have been placings or issuing shares for fees. If their projects are really that good they would be promoting them for everyone to see. Perhaps they don’t want everyone’s eyes on them? Just a thought

Mr T,

Surely the company would have to carry out a DFS to be able to take to a finance house to get the financing?

From the April fundraise they said the proceeds were for studies and for financing- ( and drilling that didn’t happen) in yesterday’s rns they said the fund raise was for studies and financing again. I did email the company to clarify if they are undertaking a PFS or a DFS and I haven’t received a reply.

I have sent multiple emails actually- I was receiving reply’s but in my previous email I said it would be in bezants best interest to release the PFS for mankayan because I was told they may not release it unless IDM make it public, I also said shareholders should be updated on mankayan Atleast quarterly. I don’t think they appreciated my comments.

To be honest I don’t think the ore body at hope is economic at these copper prices and the company knows it- so they need more tonnes and a higher copper price. It was my understanding that you needed a DFS and actual mining reserves that have been proven to be economic to extract. Bezant don’t have either without substantial more drilling.

Mr T,

Looks like the last day for interested and affected parties to comment is the 17th November, I haven’t read all the documents but it looks like they applied for a environmental clearance certificate, and a heritage permit. So a case or more thumb twiddling.

The ECC normally show up here ; https://eccenvironmental.com/

Nothing showing yet

Http://the-eis.com/elibrary/search/30135

Hi Mr T,

I’m still here just not much to say at the moment. I have been talking to the company regarding the PFS work on mankayan. They expect the work to carry on into 2024 and may not even release the study unless IDM put it in the public domain.

I have scanned the RNS today so can’t really comment but I did noticed that an additional 3500M of drilling was recommended and the resource may be overstated due to some of the old samples.

I noticed on the cadastre portal that our EPL 6605 is still pending and that our EPL 7170 expired- I have asked the company for an update regarding these.

As everyone else says the mining license is needed but more importantly how we are going to fund the additional drilling and how we are going to fund the mine! i would assume we are running low on funds again.

I wondered the same so I asked the company whether it would be weeks or months. The reply I received was ‘ In relation to the updated mineral resource for the Hope & Gorob project shortly was used in the context of weeks rather than several months’. I don’t see what is taking so long

I spoke to the company regarding the mankayan timeline and the two 1000m drill results and this is the reply I received.

‘As we reported on 27 March 2023 IDM International and Crescent, along with their various consultants and advisors, intend to complete a full Pre-Feasibility Studies during 2023 and 2024 with the aim of presenting the Mankayan Project as a globally significant copper-gold project at a time when the supply-demand gap for copper is expected to be large as the world transitions to electrification. This remains the timeline to which IDM & Crescent are working which is why we have not provided any announcements with updates on the timing’

The 2 drill holes referenced in the 1 March 2023 RNS undertaken by Crescent were focused on metallurgy, geotechnical and hydrogeological studies rather than with the aim of interesting mineralisation and the data produced from the 2 holes will be used in the analysis that forms part of the ongoing pre-feasibility study work rather than being released.

Https://zakstraderscafe.com/colin-bird-executive-chairman-bezant-resources/7689/

I did email the company regarding PR and news flow and it appears they listened to my comments.

Did anyone attend the AGM today? Unfortunately I couldn’t go due to work. Any insights would be appreciated, thanks

Troajan,

Yeah no worries, it’s just poor from the management, timelines slip, PR is awful, part time directors, Colin needs to deliver some results instead of jawboning

Mr T,

Extract from the Feb RNS,

‘ Further work on the drill core generated during the most recent programme to test near-surface mineralisation has been completed and the new database is under review by external resource consultant Addison Mining Services with a view to generating an additional open pit Mineral Resource Estimate in Q2 2023 to complement the existing underground resource.

Personnel familiar with the Matchless Belt geology and in particular the Hope and Gorob style of mineralisation have been recruited to manage the next phase of exploration to test the balance of the known and projected strike length and other defined targets. Exploration will focus on additional drilling and it is aimed to commence this programme in Q2 2023’

So timelines are slipping

Thanks Webba I have been on at them for months!

I thought we were supposed to be drilling in Q2 at hope and gorob? Was this not one of the reasons for the fundraise? I have emailed Mike allardice but haven’t had a response

Https://www.bezantresources.com/sites/default/files/presentation/2023%2003%2027%20BZT%20Presentation%20Mar2023_v4%20Final.pdf

Checking the companies website and a new presentation was uploaded in march. Not sure why they didn’t tell us by way of RNS. But I wasn’t aware until I checked.

We were told it was being sent in February, but in the latest update on the 18th May in the fund raise RNS it states ‘ A further 100 tonnes bulk sample has been extracted and is in transit to Jilin Huiyang New Material Technology Company, with results expected to reconfirm historic results of IMO testing in Perth‘