Member Info for Pricey2019

Just because it's nice to see it officially noted in black and white -

https://mgb.gov.ph/attachments/article/50/MAR_2022_MPSA_2A.pdf

We're number 28. License running until 11/12/2046. : )

Hi dvharrison (and all fellow LTH!)

I think the reason we're not seeing any specific newsflow with regard to Kalengwa is because BZT is only entitled to a 30% share of the proceeds of Kalengwa, whereas we (ultimately) receive 70% of Hope/Gorob and 80% of Cyprus.

The last time we spoke to Colin about Kalengwa, he said the team were scratching their heads about the last set of results, given their expectations had not been met in terms of the grades returned from the boreholes drilled. Colin is always focussed on getting maximum bang for his buck, and so, given the lack of progress, the company's expenditure was spent on Cyprus and Namibia.

I agree with the title of this thread, being "Patience".

I understand people want to see the SP leaping up at our recent news, but I think there are still some hurdles to clear. For instance we needs mining permits for both Cyprus and Namibia. Once these have been issued, we need funding to start digging our eventual revenue out of the ground. These are still substantial events that I'm sure will be cleared in time, but the fact the haven't been done *yet* is why we're all still waiting to see a SP of 0.5 and higher.

It's going to take patience, but it will happen eventually. Of that I'm certain.

They'll need to move this process along quickly, as the application to mine (which we understand needs to be submitted to the Namibian authorities by the end of April) is likely to be based on the results of this drilling.

Six and a half weeks to drill another 1650 meters and obtain the results seems hopeful, but let's see what transpires.

The company definitely seems to have the bit between its teeth now, and it's good to see.

If you go to this page MrTriumph, it's the Mineral Production Sharing Agreement link -

https://mgb.gov.ph/2015-05-13-01-44-56/2015-05-13-01-46-18/2015-06-03-03-42-49

Hi Mr. T

https://mgb.gov.ph/attachments/article/50/JAN_2022_MPSA_2A.pdf

Updated to 31st January, still no change (we're 307 on the list). Looking at some of the other expiry dates on the list of those looking to renew, we might be waiting a while.

We intend to ask Colin what timeframe he's envisaging when we speak to him next.

Hi everyone

I think the reason the share price is moving north is because the Philippine authorities are formally noting that they have received an application for renewal with regard to our Mankayan license.

Please see the attachment, specifically "Item No." 309 (near the bottom) -

https://mgb.gov.ph/attachments/article/50/DEC_2021_MPSA_2A.pdf

I'll be honest, I expected the license to be passed to a Chinese-backed company pretty quickly after our license expired, but it's looking like I was wrong. Of course an application isn't a full renewal, it's simply an application. But at least the process seems ongoing and potentially positive.

Thanks. The Hargreaves Lansdown S&S ISA looks quite flexible.

Hi everyone, and a happy New Year to you all.

Quick question - would anyone recommend a particular Stocks and Shares ISA that allows you to purchase shares off AIM? I've just spent time setting up a Santander account via their Investment Hub, but it appears you can only purchase shares in one of their specific investment funds, which obviously isn't what's needed.

Any recommendations would be gratefully received.

Thanks.

I think the current developments at COP26 will also bring the shortage of copper into sharp focus.

The political will to truly engage with climate change has smouldered along for some time now. I don't think it will take much to spark into genuine action (a significant rise in the Green's vote share?) and when it does I think the squeeze on copper production will see the prices rise to levels Goldman Sachs were talking about recently.

I don't see BZT as a play for the next few months, but if you have genuine patience I do think there's fantastic returns to be had here.

This is a corporate presentation that Caerus Minerals have released earlier via their Twitter account (which is worth a follow) -

https://caerusmineralresources.com/presentations/

There's lots of great info' and background, including the location of their mines.

https://www.londonstockexchange.com/news-article/CMRS/option-agreement-s-update/15133536

An update with regard to their Cyprus work programme with both Bezant and Jubilee.

I like two things about Caerus. Firstly, their CEO seems very focused on creating cash-flow as soon as possible, secondly that they're not afraid of releasing a RNS to keep shareholders updated. Perhaps Bezant should take note.

Hi MFM. I think you're right in that this new adventure is designed to create revenue so that BZT's other projects can be advanced without having to dilute us all to hell (again).

I've been looking at the other projects and there's not huge amounts of time to get cracking on them. For instance Kalengwa's license expires on the 1st April 2023, Hope's two licences expire on 16th September 2022 and 25th September 2025 (if the applications to extend are agreed), whilst Mankayan now has 75(?) days to go until it reverts back to the Philippine authorities.

Kanye's 3 licenses are still in the initial 3-year period until September and December of this year. In short, we don't have a great deal of time to waste if we're going to recover the value we all expect from these projects.

I'm not sure how others feel about the latest RNS, but I would have preferred one of our other numerous projects to have been advanced, rather than our adding another new project to the portfolio.

Having read both of the RNS, the one aspect that pleases me is that Martyn Churchouse of Caerus Mineral Resources Limited states he wants to move ahead at speed. He says developments ". . . . gives us the ideal platform to deliver revenue generating Mineral Resources and projects in the shortest possible timeframe".

I'm pleased with this because Bezant have a habit of getting involved in new projects, generating some positive news, drilling a hole or two, then leaving the project to drift. If there is a third-party that can jolly Colin along, that will be, I think, to our advantage.

Has anyone else noticed why Jubilee are involved in the discussions in early September? If not, then take a look at this RNS from mid-July - https://www.lse.co.uk/rns/CMRS/jubilee-metals-group-option-agreement-update-5atovaxndgbdpjj.html

Hi Myfirstmillion

The process is that I draft the missive to members and then forward it to my BAG colleagues Richard and David. If they're happy to confirm it's an accurate representation of the call, Richard will forward it to all members. If not, it comes back to me for the appropriate additions / revisions.

As such, I'd expect the note of the call to be with you either over the weekend, or early next week.

Can I just say that the two phrases Colin said during the call that really struck me, were that a) he'd never known a time like this across the entirety of his long career in exploration, and b) in his view, the time of the small explorer had most definitely come again.

His tone was extremely positive (and it's not always so), and I am incredibly hopeful for the future of our company.

Regards.

Nick

Hi MU345

Thanks for linking that article. Just when you think things can't get any better, the world's largest copper-supplying country decides to significantly restrict supply! Glorious!

Demand up, supply down . . . . . . and we all know where that ends up. : )

Smiler - the idea was that MMIH would spend the requisite sums / undertake the work to get the license renewed, however that's obviously not now happening.

This issue arose in our letter to BAG members of 5th February, where I'd put it to Colin Bird during our phone call that with the license expiring in November, it was likely to do so without any benefit accruing to BZT. His response was a rather sharp "Do you think I would let that happen?"

Colin stated he was firmly focussed on obtaining value from Mankayan, although he hoped this would be through partnership with MMIH.

Our issue is that the license only runs through to 12th November 2021. If the license isn't renewed by this date, I imagine that the license reverts to the Philippine government, having run its allotted 25 years. Please see the current register of MPSA's - https://mgb.gov.ph/attachments/article/50/MAR_2021_MPSA_2B.pdf (we're "Crescent Mining and Development Corporation" at number 21).

Although BZT may ultimately secure a better deal given the price of copper is higher, there's no doubt that the clock is seriously ticking with regard to any disposal.

Agreed DVHarrison, and the flights are due to take place imminently which is good.

I also agree with your other post, regarding Mankayan. An update regarding disposing of the mine wouldn't go amiss, and we're also waiting for drill results regarding the manganese Kanye license acquired from Metrock.

There's lots going on here (including the second and third Kalengwa drill holes, of course), and we only need one of these various projects to drop some decent news.

Perhaps the share price hasn't risen markedly due to the overall drilling results being hit-and-miss.

There were two drilling targets, the first being Kalengwa SW2 and the second being the Minemba Prospect. The Minemba drill has given us reason to maintain interest in the license with a better than expected outcome, but the five SW2 holes have (for the moment) drawn a blank.

At the very least, there's a lot more drilling to be done before it's determined whether we have a license we can make a good return on. This RNS is not a disaster, but it's not life-changing either.

Hi Mr T

This is pure guess work on my part, but strictly, the agreement that's been voided is between Asiaphos and MMIH. Although it has a potential impact on BZT, BZT is not part of that agreement.

I was tempted to think that MMIH may have had a second target company ready should the Asiaphos deal fall through, but the issue seems to be that MMIH can't access the requisite cash. Hence having a secondary target won't matter if you can't afford to structure a reverse takeover.

Perhaps we'll see a RNS in the coming days, when the agreement between MMIH and BZT is formally ended and we can go hunting for a new party to sell to?

On a positive note, having spoken to Colin on a number of occasions as part of the BAG, he won't have been blindsided by this development. It always seemed to me that he had thoughts of a Plan B regarding Mankayan. Of course whether that Plan B comes to anything is another matter.