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I noticed on a BZT thread someone has calculated that just over 300m shares have been sold over the last 2 months, Sanderson had 240m (18%) - it does seem likely that they are dumping BZT as there would be no other sizable seller possible. The shares are recovering now.

There is to much co-incidence in the selling of Bezant and Xtract at the same time in my view.

Bird, of course, is involved with both companies.

whose share price has fallen from .21p to .06p - it is now recovering as buyers are returning.

He is very bullish on the company and seems impressed with the Copper deal - again demonstrates the opportunity to buy in at levels never ever expected due to the apparently distressed seller.

https://www.youtube.com/watch?time_continue=7&v=LNAC_mxmag4&feature=emb_logo

https://cruxinvestor.com/videos/alba-mineral-resources-aimalba---ive-got-my-fingers-in-pies

Also worthy of comment Sh@reprophets are holding a online Investor Show next Saturday which starts at 9am and goes on all day, Colin Bird is listed as a speaker for Bezant and Xtract , the website suggests questions can be asked - not sure how it will work out but it seems a decent idea - they are charging £10 for access.

Hi CE

I have looked at the initial RNS and you are correct in saying that according to the terms of the licence certain 'Work Programme Commitments' must be completed by end April this year - so will we be getting an update on this matter next week I wonder.

Having checked the Singapore Exchange China Hongxing have applied for an extension to the process, this is the 3rd extension request, both previous times the request was granted within a few days, not so this time as it is over 1 month since the request and no reply from the Exchange - is this relevant? I have no idea.

It seems the process is on-going but delayed, I have also found the website of MMIH Group, they seem a very reputable outfit with some big hitters on the Board - hopefully news will be forthcoming shortly on the deal.

http://www.mmihgroup.com/about-us

I believe the valuation placed on Bezant, sub £1m, is totally ludicrous and is purely as a result of apparent distressed selling. I have been adding and expect to see a very decent re-rate in due course.

More commentary today on A@VFN about Sanderson not declaring their selling down of stakes. They have form.

Operational issues effecting production late Q1 caused by COVID-19
17.2m ounces of gold sold
Revenue for period $27.2m
Free cashflow $5.2m

Still talk for debt for equity swap which will require shareholder approval

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/MTL/14524648.html

Well done on the work on traded volumes.

My personal view is that the selling is coming to an end both here and BZT - it is almost certainly Sanderson.

I believe Bird is fully aware and has played the matter in shrewd fashion, he owns a decent slice of both companies, in fact Tiger Resource PLC hold £250k of BZT which are currently valued at only £50k - both XTR and BZT have been starved of any meaningful news that could deliver decent SP upside.

I would not be surprised to see XTR continue to re-rate, without this selling the market would have surely taken the share through 1p by now IMO, most gold juniors have done well recently.

BZT are up also - if the seller is Sanderson have they cleared ?

XTR is materially undervalued, so many gold related juniors have doubled/trebled - XTR has definitely been hindered by the selling or stock transfer etc.

This could multi bag from current levels IF they can gain something, anything, out of the Slovenian authorities, we all know the former CEO talked about prospective compensation IRO £50m - if they can get anywhere there is always the prospect of selling their stake, even if they secured £20m it is over 10 times the current valuation of AST

Lots of IF's I know but anything is possible, I have not entirely given up hope of retrieving some of my investment back, average near 40p - would equate to £20m m/cap based on current issued capital - on AIM anything is possible !

If anyone wants to look into the commentary about the antics of Sanderson none better than going to A@VFN and looking for the 'KIBO proper research thread' type in Sanderson in the search box and look for Lurker5 comments.

Lurker5 just so happens to be a well versed city commentator who writes for Master Investor and other outlets - his commentary on Sanderson is damning - do not expect to see any TR1 declaration anytime soon, the selling over at BZT was also notifiable but nothing has come so far.

The last audited accounts of Sanderson were end 2018 - their investments value fell from £6.5m to around £3m in that year - 2019 was even worse for them, their large (13%) stake in KIBO collapsed and they are now locked into EUA, I suspect they are struggling to survive. According to Lurker5 they borrow money to buy into these companies. My bet is they are liquidating anything to fend off creditors but of course this is speculation.

I believe they have been dumping XTR for some time and we could be getting close to a broker or some other entity taking the overhang from them - on AIM a distressed seller presents an opportunity for retail investors with patience.

I have added XTR and trebled my holding in BZT

CE

I have been following matters on the Singapore Exchange, as it stands the reverse takeover is still on but delayed, China Hongxing, has applied for various extensions for a New Listing and is awaiting another extension.

Colin Bird briefly mentioned the matter in the podcast, in my view, so long as market conditions remain stable, I can see no reason why the reverse should not go through, if so that would enable Bezant the £5m liquidity event.

The current sub £1m m/cap is bordering on ridiculous, I can see this doing a 50%+ daily gain at some point, I have been adding, these juniors are starting to motor after an exceptionally long period of acute under-performance.

It appears that Sanderson may not have been wound up after all, there is some doubt, I have no idea other than their last accounts end 2018 were pretty dire and their investments in 2019 fared even worse.

Folks on the KIBO BB have looked into this in more detail apparently - this is not to say they are not selling down their portfolio to raise cash and could still be sellers of XTR & BZT - frankly it is all very foggy, clearly they are in some financial distress.

Just saw this elsewhere, looks like they are being wound up - they hold 13.8% of KIBO

https://www.thegazette.co.uk/notice/3462640.

So Sanderson Capital Partners Ltd are being wound up as insolvent - for the benefit of doubt they do not hold stock on behalf of clients.

This means their assets are now in possession of the administrator, the 60m shares they hold/held in XTR included, I suspect the shares will be taken either by market makers, a broker or perhaps a boutique fund - if taken by a broker they will be distributed to clients at current levels.

My view is Bird is aware of what is going on and he may prefer to wait for the distribution/overhang to clear.

Seems a good opportunity to top up and take advantage of the situation in my view.

Almost certainly the seller, possibly by the Administrator, Notice of Winding Up Order.

https://www.thegazette.co.uk/notice/3462640.

Worth noting the Board have been paid in Options since November, it is also worth noting that the CEO Tim Livesey made most his personal cash via Options when Reservoir Minerals were taken over - will history repeat?

Are Oriole about to sell the Senegal licence for a tidy bucketful of cash to Iamgold. The current silence from the company does make you wonder if something material is going on - they sold a same stage Turkish licence in 2012 for around £25m

It is worth noting that Colin Bird is CEO of Tiger Resource - they hold a stake in BZT costing £250k - it is now valued at £50k,

At some point the shares of Bezant are going to take off. market value of sub £1m is totally unrealistic.

I noticed that someone is keeping an eye on the major shareholder list as it was updated late March

The major shareholders collectively own nearly 66% with MTL Sarl (Candy) with 46.81% and Runruno (Edwards) 19% of the 2.07b shares.

An offer of 1.5p a share to minorities would cost them only £10.5m and 3p £21m - that is relative peanuts given their combined wealth - not sure how many would be happy at these levels of course.

I have a feeling news is not far off.

Bird podcast today on BZT but XTR's project nearby also.

https://audioboom.com/posts/7566823-bezant-resources-pires-investments-and-alan-green-on-3-stocks