Member Info for prickly

As we approach production i took another look at Atalaya which has been producing for ten years and and has 1 billion plus Mcap.

The key statistics are 1. Atalaya 's Rio Tinto processes 15 m tonnes to produce 50,000 tonnes of cu (2025) 2 . BZT 's target is to process 180,000 tonnes at NLZM to produce 9,000 tonnes Cu.

In other words Atalaya produces 3.3 kg of copper per tonne processed and BZT produces 50 kg Cu per tonne processed.

This dramatic difference is down to higher ore body and the " game changing" Steinert technology.

This is why the investment case for Bezant is so compelling. If we can eventually achieve phase 3 and 50,000 tonnes and maintain something close to this effficient processing rate we could all retire. Irish could build his own guiness brewery

I would like to add a little to Pricey's excellent summary..

1. I was delighted to hear we can expect to be producing 9,000 tonnes at Hope Gorob not the original 6,000 and this can be extended to 15 years given recent analysis

2. Also delighted to hear how quicky we plan to start shipping concentrate August, ffs. So much sooner than I had expected. Imagine that...

3.. I was intrigued that they are already discussing phase 3 which Pricey mentioned.

revenue in 2-3 months time . (in fact the whole meeting was full of good news and that includes the lunch was good)

I spent some time chatting to Martyn Churchouse who is our key man in the project. Martyn is very impressive and we are in good hands. He showed me photos of the plants , the equipment , the offices and even the converted air conditioned containers where the workers are being housed. We have 60 at Hope and 60 at NLZM..They will be operating daily shifts This is projected to increase to 300 in time .

We are within 5% of budget which has only been slightly affected by oil prices

This along with the proposed tax take is why Namibia is so pleased to have us in the country.

I think they are impressed how rapidly Colin and his team have put this project together once the licence was granted.

Much for we shareholders to cheer about too.

The question is not Funding or no funding. I am confident we have the $7m secured. (No way we would have gone ahead with setting up the mine and flotation plant otherwise.)

It is whether the concentrate shipments begin on schedule and copper prices remain firm. If so we have a good chance of avoiding any heavy dilution. Both CB and Martyn have spoken of shipping concentrate either in Q3 or Q4 . Assuming it is Q4 and we have a reasonable ramp up we could be delivering 400 tons -600 tons per month of Copper by February 2027 .....I.e $5m -$7m revenue . The point at which we become cash flow positive is going to be key..

Traders become much more amenable once shipments commence and receivables financing becomes available.

This is the greatest road ever. NOBODY KNOWS MORE ABOUT ROADS THAN ME!!! It leads to a GREAT BIG BEAUTIFUL MINE.

Thank you for your attention to this matter. DONALD J PRICKLY.

Welcome back News...

For reference News is to mining stock owners what Bill Frindall. was to cricket

The stats man.

Maybe your prodding for more info prompted this Cyber.

I was a little puzzled (until this morning) at the lack of interest in BZT. CB's other favourite horse Kendrick was stealing all the limelight. I see Bezant as a young novice chaser about to enter on a steep path of handicap wins on it way to winning the Gold cup at Cheltenham, collecting serious prize money along the way.

Kendrick is more of a highly fancied yearling but at least three years away from challenging for the Deby and is still a speculative contender.. Kendrick may well win a huge fortune for its owners tomorrow but the BZT is looking to make a large fortune today.

I think the "wrangling" over the finance details can be partly explained by the need to keep three parties happy. The minority owners of NLZM with royalty tapering deals, the financier and BZT. Lawyers love complexity!

12 months ago the SP was .024 and I was berating the BOD for a series of micro raises to cover petty cash x's . We have come a long way , since then and CB is to be credited for getting us to the brink of production. Not that the market has really noticed.

Some of these cheap shares and warrants are being sold off and these are holding down the SP plus lingering concern about finance . As far as I can guess these are the only real headwinds although you might add the moron in the Whitehouse . Otherwise I expect a similar or greater acceleration over the next year. I have friends in the city that are beginning to notice us . Privately not corporately unfortunately but institutions will be nibbling in a year or two when we are more grown up.

Not all corners are 90% , Pricey so we may not be back where we started but perhaps I am being obtuse...

I agree eastern that he should have pointed out or reminded us that one of the primary applications for the raise was to fund the additional 20% but it was honest to point out he had to allow for contingencies (like running low on cash!) in the lead up to production. We are getting very close now and "round the corner",which is where the finance is , will soon be with us. I was surprised how quickly he envisages us shipping concentrate......August September. Maybe Martyn's prediction of Q4 is more likely. Martyn is our man in charge now. Even so the current SP of £16m is the price of an explorer not a very near production miner with little or no debt looking to generate $40m plus in free cashflow.

Martin Churchouse probably knows more about Hope and progress than you or me , given that he is in charge of the project. So I will take him at his word if he says he is planning to start shipping concentrate in Q4.

Yes I was a bit overoptimistic in my timing but I have always been confident that it would happen and the fact that you have not sold out suggests you agree despite your protestations.

As to the SPV . well I was simply relaying what CB had mooted given that we had little cash at the time and the SP did not allow us to raise significant funds without further diluting us all into the South Atlantic. The financier will probably want some share of the upside here in any event.

RMC

If you have any BZT shares then I suggest you hang on to them for six months. I am confident they will out perform your copper ETFs.

The rerating when it happens will be sudden and momentous. Churchouse pointed out we shall be shipping concentrate by Q4.

Over the past few weeks, a number of items appear to have moved into place at Hope–Gorob:

the contractor mining and trucking agreements were announced

regional government officials visited the site publicly

management has repeatedly stressed the project is near-term production ready

now Churchouse is mentioning permits being “sorted”on the midweek roast today

Taken together, that sequence does fit the pattern of a project moving from “advanced discussions” into finance execution.

One reason this matters specifically for offtake finance is that traders or financiers advancing money against future copper concentrate deliveries tend to focus heavily on “permittability risk”. If there is any uncertainty over environmental clearance, mining licence status, haulage permissions, water use, or processing permissions, lenders can delay signing even if commercial terms are already agreed.

Hi Willy

I would hope to see our Mcap around £100m by the end of '27. Assuming copper around $15,000 and we are closing in on our 8,000 tonnes target. (and Trump doesn't close down the South Atlantic)

Has just made himself a tidy million or so at Kendrick , RMC. Not so useless today. I hope you are in there with your old mucker Irish. I agree all our "positive" (ramping if you like) discussion has made little impact on investors but our time will come and hopefully you will be as generous with your praise as you are with your insults. I quite enjoy your posts as it happens.

Colin's rare earth baby has gone bonkers in last few days. Clever of me to sell out at 2.60 with what I thought was a good profit. It is in a fashionable niche and despite being years from production it is attracting lots of speculative attention. Irish will be lapping up his guiness.

This does show what happens when the spotlight falls on a share and surely we should have some good days in the limelight when we actually start up production next month!. As per schedule given to the local governor not us.

As to our SP Seasider, we are projected to produce 8.000 tonnes a year for two / three years and then ramp up to 25 k provided all goes to plan. With copper prices well north of $13,000 and costs at around $5,500 per tonne we should see a Mcap of at least £100m.

I meant to say the underestimate would relate to profit margins not production revenue. In other words we will make more cash the higher the copper price rises , which is kinda obvious!

Thanks to Wheaten for this news. June is only a few weeks away so this is further evidence of great things to come.

Howezap, I have looked at Charles Archer's December 8th analysis and he gives us 2 revenue figures. 1. Based on 70% ownership and full tax payable

2 . 100% ownership and tax carried forward. He makes allowances and assumes all will not run completely smoothly. Like true love.

All his figures were based on Dec 8th spot prices . I f we adjust these to 90% ownership and todays spot prices (approx 25% higher) I make it we get $60m revenue year 1 and $72m in year 2. I have just added 25% to revenue which is hopefully an underestimate as higher spot prices should produce greater margins as costs do not rise in proportion even allowing for a hike in diesel which will not help.

Hubstar. It is good to meet another glass half full poster on this board. I understand the pessimists but I do not share their views.

You may have seen my back of cig pack summaries of the revenue we shall be generating here. At current spot prices I reckon we will be making at least $50m p.a and hopefully a great deal more. Gross revenue should be at least $100m Once we are up and running .

Plus there is a clear path to much bigger revenue when we ramp up to 25,000 tons with a new plant 2-3 years down the line. We are getting very close to production and I for one am buying as many as I can atm before the price spikes.

There has been the healthy rebound in copper price above $6.00 today < A rising copper tide lifts all boats and ours should gain more than most when our dear leader announces our "long awaited...."