Member Info for Pricey2019

It's been about six weeks since the RNS that confirmed we had the full 25 year Namibian mining license. Since then there's been nothing. No timelines. No finance package. Not one RNS about H&G.

I know Colin tells the Roast guys that he reads these boards, well if that's true . . . . . GET YOUR FINGER OUT, COLIN!

Hi Prickly. Perhaps a delicate question about succession planning for BZT's leadership might be in order?

AFP rose over 40% late last week, with no corresponding RNS. I wonder whether there's financing news beginning to leak out?

Prickly is going.

Erm, excuse me, Mr. RMc2407, we'll have slightly less of that "in profit" talk around here, please!

I think it was Aerosmith's Steven Tyler who said cocaine was God's way of saying you had too much money. Investing in BZT is pretty much the same. : )

We can only hope, Mikey!! : )

Personally, I think confirmation of financing will be a further push on company value, but there's no denying these are currently exciting times . . . . especially for long-term holders / averaging-downers like me!

I'm genuinely interested to see what the company will be valued at come close of play on Monday. It's currently at £6.19m, with a further £5.8m(ish) being added as saleable assets on Monday.

I've no doubt the value won't be £11.99m, but surely it has to be a chunk higher than £6.19m?

Eastern, yes I completely agree with you.

That having been said, I've just listened to the Midweek Roast with Colin, and it appears that letters of intent are signed with both digging and transport providers, so things are (we are assured) moving forward. In contrast to many others on this board, I'm something of an optimist, and so I'd hope that news flow really picks up now that we've got the full suite of documents for the mining license.

I'll be honest with you, I genuinely can't understand why people aren't filling their boots with BZT stock, if only for the shares we're about to receive in Blackstone on Monday. Surely Colin can't be such a drag on a share that is quite evidently going to rise over the coming month(s)?

So this company has a full-fat mining license through to 2040, is about to receive shares valued at approx. £6.5m, and yet has a company valuation of £5.17m.

Man, AIM is really wild, isn't it?! : )

Well spotted, Everycloud. Hope you bought a few before making your announcement! :D

It would be good to see a few others at the AGM too, Prickly. I'd have a far higher regard for certain posters if they actually rocked up at the AGM to say to Colin's face what they're happy to post from behind their keyboard.

I assume you'll be going again? If so, see you there.

I see that Bezant has had the Exclusive Prospecting License for the wider Hope and Gorob site renewed. The renewal date appears to be 28th or 29th November, running until 28th November 2026.

The Namibian Mining and Energy Cadastre Map Portal has been updated with the above information - it won't add anything to the SP, but it's another piece of admin' that's been taken care of.

With regard to "the last pieces of paper", African Pioneer received their Ongombo Project mining license confirmation on 29th September 2022. They then received the corresponding ECC on 25th April 2023, so nearly seven months later.

AFP's experience is not any guarantee of our timeframe, but it perhaps provides some guidance.

It also begins to give us an idea as to the profit our 70% share might generate once we start mining the open pit (depending on the copper price and the cost of initially financing the mine, of course).

Hmm. I know it sounds great that gold may make a significant contribution to the company's processing costs, but how does it effect the timescale for production?

Environmental permitting aside, I anticipated production beginning in summer 2025. Is another round of drilling going to move that time frame back?

I thought Charles Archer made a point of saying it was 20 million dollars, rather than pounds? With a current exchange rate of £1 = $0.77, that would give us £15,400,000.

I also thought that the $20,000,000 was before Bezant repaid its lending?

As Mr.T says, I think there are currently too many variables to make even an informed guess as to what the MCAP might be.

I note that our licence application (as found on the online portal) now has "pending ECC" added to it, which I guess is the Environmental Compliance Certificate.

Given Kamino Minerals Limited has warrants at 0.05p that expire on 31st January, I'd expect activity between November and the end of January to be substantial, with the accompanying rise in SP.

Remember that Kamino were happy to subscribe for shares at 0.035p when the share price was 0.022p, so they're evidently not clueless with regard to how this is going to play out.

I agree with Irish. When questioned at the AGM, Colin said that the process of securing finance, contracting for machinery etc. was moving ahead as if the license had been granted.

I would hope that we now see a decent flow of RNS given that the major hurdle has (all but) been overcome.

Good morning, all

I attended the AGM yesterday alongside Prickly, and I'd like to update you as to the various details.

- With regard to Kanye, it was very much a case of the song remaining the same, i.e. there were no fresh developments.

- The company is "close" to an agreement with a third party so as to begin exploration of the Eureka license in Argentina. As I recall, this will lead to no immediate expense accruing to Bezant.

- In the Chairman's Notes attached to the Annual Report, Colin had said that he expected to see the Mankayan project monetised in the "short to medium term". I asked what that timeframe meant and he said it was the next three to eighteen months. The monetisation could be through either a direct "trade" sale, or through a flotation on the Australian market. Both outcomes are presently equally possible.

- As always however, the crux of the meeting and the main focus of everyone's thoughts was Hope Gorob. Colin said that the Mining Ministry's licensing team had again recently visited the site and that it had been a "good visit". He also said that they (the Ministry) had been told to make a decision on the license, and that pressure was coming from the country's President with regard to making a decision. With unemployment at 20% in Namibia, having projects like Bezant's in operation is obviously economically attractive, and that was why pressure is now being put on the Mining Minister.

As a result of the recent visit and the aforementioned arguments for development, Colin strongly believed the license would be granted within the next three weeks. He is supported in this view by a third-party individual who I will not discuss on an open forum, but I mention it so as to give some credence to Colin's view of the timeframe . . . . it's not just another of Colin's flights of fancy.

With regard to financing, the company has received a range of offers (five, as I recall) that range from a third-party only providing finance and having a division of revenue 65% Bezant and 35% financier, to having the third-party undertake the entire mining operation and dividing the income 60% to the third-party and 40% to Bezant. This latter offer is Chinese. I don't know the nationality of the first offer.

I questioned the fact that Bezant only held 70% of the Hope Gorob license, and Colin said there were mechanisms in the contract that allowed (obviously at a price) Bezant to ultimately increase its share of the license to 90%.

Prickly spent a great deal of time berating Colin for the lack of progress across the projects and for the current share price. Colin's argument was that he was constrained by foreign governments and that they were responsible for the delays. It was agreed by everyone that the provision of a mining license in Namibia would be a catalyst (a word that was used throughout the meeting) for the company finally acquiring some value.

The AGM lasted about 50 minutes.