Member Info for Pricey2019

Thanks. : )

I guess one point I'd add is that the new flotation plant will obvioulsy be a significant asset on the company's balance sheet. It's not that the company's profits are being lost to directors remuneration (or dividends), but are, in essence, being retained to strengthen the value of the company when someone larger comes along to buy it.

It's not something I've thought about previously, but I think I'd prefer profits to be sunk into capital assets, rather than distributing them by way of a dividend.

The first couple of years' cashflow are likely to be spent on building the new (much larger) flotation plant at / near Walvis Bay. According to Colin, the cost is going to be around $50million to $60million, so I guess that's dividends done for a couple of years at least.

It's the flotation plant that's currently the pinch-point, restricting the company's ability to produce 25,000 tonnes a year, even if (when) we dig the ore out of the ground.

A dividend would be lovely, but this share might be one for capital growth for a time yet.

Hi all

Prickly and I attended today's inverstor presentation in the City, which primarily focussed on Kendrick and Bezant, with a few comments on African Pioneer and Xtract.

There were about 60 attendees (it was literally standing room only) in total. The Namibian High Commissioner and his wife were there, so Colin and Martin Churchhouse were obviously banging the drum for Namibian jobs and tax revenues. The group of companies' resident geologist, Professor Johnson, was also in attendence and he said a few words at the end, again about Kendrick Resources.

The presentation was very well done and informative (especially with regard to Kendrick Resources), but for those who attended December's EGM, the presentation covered much of the same ground, however there were one or two snippets that are worth repeating.

Colin didn't think Hartree Metals would convert all of the loan to shares. He said they're traders - they want the cash return, not to hold investments.

Regarding timeframes, the team are looking to begin digging the pit in July, with the first concentrate supplied in August, with revenue generated from late August. This was Colin's estimate and Martin was a little more circumspect, but you can see what they're looking to acheive.

Martin did say that recent analysis had extended the scope and therefore life of the Hope / Gorob pit. His belief was that the life on the mine had been extended to around 15 years at 8,000 to 9,000 tonnes a year. I'll be honest, this was news to me!

There was passing mention of "Phase 3" of the project, where the end-game was to be producing 50,000 tonnes a year across Bezant's Namibian licenses. It was a single sentence and I strongly suspect the company will be sold long before we reach Phase 3.

Prickly spoke to Martin after the presentation and the ore-sorter is now built and on-route from Germany. It should arrive at the site by the end of June / mid July. They're also happy to initially send quite small amounts of concentrate to the flotation plant in order that the plant can get up and running before the larger tonnage arrives.

Prickly also spoke to various brokers, and of the four companies discussed, Bezant was the one they felt most positive about. Which is nice to hear and who knows, might actually mean that the SP rises over the coming weeks! *crosses fingers*

Anyway, the AGM can't be far off, and I'd genuinely recommend going this year - especially if we're producing ore by that point. I'd look forward to hopefully meeting some messageboard members there - it's always good to put faces to names. : )

The SP mightn't do much at all today, but that's fine. The important thing for me is that we have a clear direction of travel with this share now. A big player has decided that our (currently) small project is worth getting their hands dirty for, and they're in for the ride.

Yes, the recent fundraise and the potential to convert the $7million to equity will hurt the SP (with over 10 billion shares / potential shares issued), but I'm still going to be very happy if this hits 0.5p a share.

Warrants also being exercised (the first in a little while), so someone's obviously convinced. Mind you, given they're paying 0.004 and 0.006 for them, there's not too much convincing needed.

*drums fingers* *looks at watch*

Did anyone listen to yesterday's Roast PR podcast? As well as the main interviews (one being with Colin regarding XTR), the focus of the hour was identifying 10 seperate 10-baggers.

BZT was obviously included, albeit at number six of the 10 (they were ordered as to the liklihood of them 10-bagging). The host seemed very sure financing was on the way (isn't eveyone?) and that (once again) it'll be with us soon. Let's see.

I expected BZT to fall today in light of the AI bubble finally beginning to go pop, so I'm pleasantly surprised that we're (at the very least) holding our own.

I hope to god Colin isn't renogiating the financing terms as I believe we're going to need cash in the very short term.

With hiring employees and developing capital and infrastructure, we must be burning through cash at the moment. I've thought for a while now (and stated previously) that we'll see one last lowball fundraise with excessive warrants, shortly after which (lo and behold!) the financing will be sorted. Give the Board their due, they never miss a trick.

We can only hope it's not a straight road, as then there'd be no chance that financing could be just around the corner.

Looks like the markets have appreciated the news about the road.

You should be no more twitchy than you were yesterday. The reason this share has put on a couple of hundredths over the past few days is, in my view, due to people taking profits from Kendrick Resources and looking for a quick turn here.

In addition to the points RMc makes, I think the question you need to ask is "What comes next?". If you believe it's the mystical financing deal (first stated as being completed in January), then you sit tight.

If you believe the next step is the Board further diluting shareholders with another lowball fundraise, then you'd sell.

The fact that our Chairman has said that he'd be quite happy to raise funds with another lowball subscription (on the last Roast podcast he appeared on) might colour your decision. Alternatively, our Chairman has also said (over the last couple of months) that the finance is "days away" / "just around the corner" / will be completed "imminently", so that too might play a part in your decison.

I've outlined my thinking in a previous post, but for the record I'm holding tight - though in hope more than expectation.

Finally, the last fundraise was approximately 2 months ago, and we will be burning through cash as we push towards production.

Being the cynic I am (I've been invested in BZT for about 13 years, so there's been a lot of time to cultivate that cynicism!), I suspect that the finance will be announced a couple of days after another round of low-ball fundraising.

One last tranche of warrants for the boys, and then it's all systems go!

Hi RMc

Since January, I think we've turned about 4 corners, meaning we've ended up where we started!

"Financing in final stages and will be announced and confident it is around the corner.

Sounds very imminent."

It was imminent in January.

The SP has stagnated here because you'd have to be mad to buy BZT shares at the moment.

There are three major reasons why you shouldn't buy. Firstly, we have no idea what the borrowing terms look like. I'm hoping they're OK given that Colin (who's negotiating the deal) will also benefit if the terms are good, but we don't know until there's an announcement.

The second is that at present the company must be burning through cash. The last fundraise was primarily to acquire the additional 20%, rather than to add to working capital. As such, it's only a matter of time before Colin and pals roll up with another low-ball fundraise with additional 1-for-1(!) warrants. Who's going to invest here, when dilution is just around the corner (again)?

Finally, the warrants. Given the recent addition of 3 billion warranted shares provided to Colin and chums, the steady stream of selling will now continue into the long term, as people exercise their warrants and options. This obviously creates continouos downward pressure on the SP.

If we don't see that loan funding soon, even .0007p is going to be no more than a distant memory.

Ahh yes, the mystical "finance news". News that should be filed alongside "Are we in contact with aliens?", "Where is Lord Lucan?" and "Who killed JFK?".

I agree, Eastern Investor. The funds were required to increase BZT's share to 90% and the raise needed to happen, but, for me, the awarding of 1-for-1 warrants (equalling a further 3 billion shares) was a complete ****-take.

My fear is that although we're being advised the financing is imminent, we were told at December's EGM that there'd be no more dilution . . . and see how that turned out.

What if we don't see the financing for another month or two? What happens then? I think we all know what happens then - back comes Colin and his mates to fill their boots with another low-ball fundraise with additional warrants. I agree with everyone that says we need financing to overcome the fear that Colin is going to screw shareholders yet again.

I believe Colin has / is about to upload a number of photos to his X account. The photos show the NZLM plant refurbishment.

Colin is in Namibia at the moment and he's hoping to provide photos of the progress we're making at the (Hope) mining site over the next day or two.

Gains are tax free if they're from shares that are held in an ISA.

And the "Annual Exempt Amount" for Capital Gains Tax is £3,000 for each taxpayer, not £6,000.

"Not inside. Pure guesswork. Luck of the Irish."

Mystic Murphy strikes again. : ) I'll be honest Irish, I suspected you were full of the proverbial, but that's a decent fish you landed today. Well done.