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No way I’m buying the spin here.

All I’m seeing is big wording around streaming, treasury, yield and revenue, but not the numbers that actually matter.

What was the actual May revenue? What was the net cash after costs?

What’s the burn?

What cash is left?

Are liabilities included in the NAV?

Saying “revenue generating” means very little if the income is tiny and the listed company costs are still eating more than comes in.

And let’s not forget the recent placing. £750k raised in April at 0.1p, with 750m new shares issued. The current share count is now 2.857bn, and the share price is already ~40% below that placing price. That says a lot about how the market is treating the story.

For me this needs hard proof now, not more wording. Show cashflow, show burn, show the balance sheet, and show why another raise isn’t coming.

Is it paywall - can't open it ?

The offtake agreement itself is positive. It confirms there is a buyer for helium from Pinon Canyon and gives the project a short-term revenue route while longer-term offtake talks continue.

But the production-status wording is much less convincing. The announcement still refers to an “initial production phase”, ongoing optimisation, intermittent tube-trailer filling, and improving uptime / steady-state operation. That does not read like confirmed stable commercial production yet.

Great Road,

What a Road,

You've seen nothing like it,

Great Road

I’m in at 0.163p, so just trying to map the timeline properly.

If I understand the 5 May RNS correctly, the key dates are:

Week commencing 4 May 2026: Antwerp diamond sales process expected to commence.

May 2026: AIM Admission Document expected, subject to fundraising.

15 June 2026: GM to approve the SPA must be called by this date.

30 June 2026: extended SPA long-stop date.

Separately, outside the 5 May RNS, if suspension started on 22 December 2025, then the six-month AIM suspension/cancellation risk date appears to fall around 22 June 2026.

So the bit that stands out to me is that the SPA long-stop runs to 30 June, but the AIM suspension risk may fall earlier, around 22 June. That makes the real pressure window look like mid-June, not simply 30 June.

Happy to be corrected if I’ve misunderstood the AIM suspension rule or timing.

Any news of the Creditors meeting of 8 May - it's all gone quiet re that ?

One is acutely aware

Would have preferred the outcome from 8 May posted ;)

Https://uk.advfn.com/stock-market/london/sintana-energy-SEI/share-news/Sintana-Energy-Inc-Interim-Results-for-the-3-months-to-31-March-2026/98534793

I've mentally removed this from my portfolio (was just £100 anyway).

Still nothing from 8 May ....

Absolutely !!

AI used to get this timeline, so not guaranteed exact, but gives an indication generically - DYOR etc.

Practical VAST read

If VAST “commences the sales process” in the week beginning 4 May, a sensible expectation is:

Fast case: result by late May

Normal case: result in early to mid June

Slow case: result slips to late June, especially if paperwork, buyer marketing, reserves, or logistics are messy.

So the forum idea that sales are happening this week is too literal. The phrase likely means the Antwerp channel has started.

My working assumption: VAST diamond-sale results most realistically land late May to mid-June, if the process has started this week.

30 Mar RNS :

https://www.investegate.co.uk/announcement/rns/bezant-resources--bzt/hope-gorob-copper-gold-mine-development-update/9498012

Financing: Further to the announcement of 31 October 2025 the financier has completed their technical and financial due diligence in relation to providing a US$7M financing facility for the Hope & Gorob project and we are now in the advanced stages in relation to the financing documentation, which we anticipate completing over the coming weeks.

Long read so have used AI to summarise. DYOR

Key points

Cash position: $10.3m cash at 31 Dec 2025, plus $3m already received from Exxon after year-end, with another $6m expected before end-2026 if approvals complete.

Working capital: $5.0m at year-end, down from $11.5m in 2024. That looks weaker, but partly reflects Challenger acquisition liabilities and integration costs.

Burn / overhead: Management says ongoing G&A is about $4m per year, but 2025 G&A was much higher at $10.3m, mainly due to share-based compensation, salaries, professional fees, and transaction-related reshaping.

Going concern warning: Auditor flags material uncertainty because Sintana has no revenue, made a $10.2m loss, and had negative operating cash flow of $3.66m.

Challenger acquisition: Completed in Dec 2025. Added Uruguay AREA OFF-1 and AREA OFF-3, but also increased shares outstanding to over 510m at year-end and 514.8m by MD&A date.

Major positive asset update: Galp’s Mopane 3C resource increased from 875 mmboe to 1.38bn boe gross, implying around 67m boe net indirect exposure to Sintana’s 4.9% carried interest.

PEL 83 remains the jewel: TotalEnergies farm-in/operatorship, up to three wells planned, FID target 2028, first oil target 2032, with Sintana carried through development on its indirect position.

Uruguay is now a proper catalyst stream: Chevron-led AREA OFF-1 3D seismic is underway. Fast-track first-season results expected Q4 2026, full PSDM expected Q2 2027.

AREA OFF-3 is the swing asset: Sintana owns 100%, no carry, farm-out process ongoing. This is potentially valuable but also more funding-sensitive.

PEL 90 funding risk: Important hidden sting. Sintana says it is not carried for further exploration drilling on PEL 90, and its share of a future exploration well could be $6m–$7m. That is material relative to cash.

Options / RSUs / dilution: There are still 21.9m options and 11.45m RSUs outstanding after year-end

No dividend: Expected

Glad to see the RNS and SP uptick today - I'm in at 0.058p

Mindful the 5% interest on $7m debt is only until end of Sep and then may go back to 20%, so hoping for some further positives before then as well - roll on Q4 2027 when the $$ revenue stream comes in if all goes to plan.

I did COPILOT AI check - I have been invested here since last Oct (small amount) as part of my dip into risky AIM stocks - and have got the following summary - please DYOR and fact check, which I did ask AI to do as well.

This is the AI output :

Last reported cash position in the June 2025 interims was very low: £8,578 cash at 30 June 2025. Since then, Bezant has raised further funds, most importantly the 31 March 2026 fundraising of £2.07m gross at 0.065p.

That cash is not all free working capital. The recent move to increase Hope & Gorob from 70% to 90% involved total consideration of about £1.114m, split between shares and staged cash. The RNS wording points to roughly £557k in shares and about £577k staged cash, although the listed staged cash payments of £150k by 31 March 2026 and £396k by 15 May 2026 add to £546k, so there is a small inconsistency/rounding gap in the announcement.

Historic cash burn from the June 2025 interims was modest at headline operating level, with a loss before tax of about £128k for H1 2025, but that is not the best forward guide now because BZT has moved into a much more active development phase. With mine development, contractors, plant refurbishment and financing work underway, the forward burn rate is likely materially higher than historic admin burn.

The big near-term catalyst is the US$7m prepayment/offtake facility for Hope & Gorob. The company previously flagged an expected US$3m initial advance and up to US$4m later, tied to concentrate offtake. That financing being formally completed and drawn is the key de-risking event, not just another “progress continues” update.

Main upcoming catalysts as AI (Copilot) sees them:

Completion/signing of the US$7m financing/offtake documentation

Confirmation of the initial US$3m drawdown

Completion of staged payments / move to 90% Hope & Gorob ownership

Updates on NLZM plant refurbishment

Mining/logistics contractor mobilisation and site development progress

Confirmation of plant modification / ore sorting route

First copper-gold concentrate, currently guided for H2 2026

The 8 April resource update was positive: Hope open-pittable resource increased materially, with the company referring to a much larger open-pit mine life. But the market will likely focus less on geology now and more on whether BZT can actually fund, build and commission without another ugly placing.

BZT has breathing room after the March placing, but the project is not fully de-risked until the US$7m facility is signed and money is actually drawn. The fuse is there; the lighter is the financing RNS

Muck - is 4th May still the latest date for GM ? (your post 13 April) as nothing has come out yet, and no news of any description for ages :(

I'm in at 0.058p, alas just £100.

but hey, Green is Green and happy today :)

Update re LBR Offer for Vantage

Creditor meeting to approve LBR's plan to acquire the Vantage Goldfields assets in South Africa adjourned until 16 April 2026

Further to the Company's announcement on 26 March 2026, Metals One (AIM: MET1, OTCQB: MTOPF), a critical and precious metals project developer and investor, announces that the creditor meeting to approve the plan proposed by Lions Bay Resources PTY Ltd ("LBR") (Metals One: 30%) to acquire the South African assets of the Vantage Goldfields Group was adjourned by the Business Rescue Practitioner ("BRP") for one week.

The meeting was adjourned as a majority of the creditors required some clarifications and amendments to be made to the business rescue plans and voted to accordingly postpone the three meetings by seven days. The BRP committed to distributing amended business rescue plans to creditors by Monday, 13 April 2026, to be voted upon at the meetings which have been rescheduled for 16 April 2026.

My bad , Q2 !!!