Member Info for prickly

to see copper prices in 2021" http://www.usfunds.com/investor-library/investor-alert/will-2019-be-the-year-of-king-copper/#.XHQNauj7RPZ

If you can access this article it is very bullish about copper prices and a spike in copper prices is what BZT needs!

Richard was taken ill again last night with a relapse unfortunately. So a truncated meeting took place without either Hemo or Trellis. . Will report back with notes nonetheless by wednesday .Sorry for the delay.

Hi Cavello
The main difference between now and last year (apart from the SP) is that the exploration licence was renewed in April for Mankayan and we took on a new Chairman who has invested heavily in the project. We have set up an Action group of shareholders as we are not happy at the decline in the share price. We have been meeting up with the BOD to discuss and shall be reporting back on the current status next week after our monday conference call with the CEO who is currently in the Philippines. In the meantime I suggest you read the RNS reports . Good luck.

Our chairman has a lot of skin in this game t'is true. Our CEO has taken salary in shares plus they both have plenty options at ..050p and 1 p so the BOD is in the same boat as the rest of us..
I have just topped up another million as I am feeling confident that the rising price of copper will spark renewed interest in our valuable assets. . We expect an update RNS shortly and the action group is also hoping to report back when Richard E is fit next week.

Hi Vektas. Richard has been detained in hospital and is due a minor operation this weekend. He is due to be remain for about a week to recover and should be back in circulation in about ten days. He wishes everyone well..
Hopefully he can be back to his active self very soon. I also hope we can get back to you all with some more news soon.

Our leader was taken off to hospital last night unfortunately so could not make it. Hopefully he will be up and around by Saturday. The rest of us attended
We should be ready to post a report on the meeting after the weekend when we have consulted with Richard. I have to get on with my day job....meanwhile.

Sadly Silverknight it is true. I bought into the platinum story and then tried to average my way out of trouble . Reckless and naive.
Still hoping for a miracle. But reconciled to a total loss if we cannot find any company interested in our assets.

I dont think any shareholder is in any way satisfied with the way this company has been managed.
As a shareholder of 15million with an average of around 1p or more I need not stress my loss. I for one have no idea how to manage a mining company nor do I have any relevant skills such as Hemo the chartered accountant .
I think the company was close to profitability around 15 months ago albeit on a low scale operation. Since then the decision to abandon El Choco the renewal of the license at Mankayan and the advent of CB gave us all some hope. World events have not helped and the sluggish copper price is depressing interest. The high bar entry price of 400M USD (reduced from 800m) maybe another factor. . That said if there is anything " constructive" that a shareholder action group could contribute to the sale and disposal of Mankayan then I would be happy to lend my support to it .

I went to last night's presentation and was impressed by Michael Masterman and your company. . I would count as one of the strangers! You have a mine in production and revenue and other projects which look promising. Sadly I am invested in EUZ (the second company presenting) .not wres
I am a little surprised the SP did not reflect the positive news given out by MM.and as soon as i can I will be investing . So i am one of the "liked it but no funds available brigade". I will be back as soon as I am invested..

I think what Laurence was saying is that once the mine is fully scoped to ASX requirements he would then take the value of a comparable fully permitted operating mine (X) and offer ours at a massive discount (Y ) to allow for all the costs (Z) involved to get to viable production.
It would be good to know how much an efficient company would need to set up a viable producing mine in our area. Plus what extra they would expect to make to cover any risks . We might then have a rough idea what we might expect to be paid.

Laurence delivered a fairly polished presentation. He admitted the territorial mistake and suggested it would be sorted at the next licencing round. Pointed out a similar sized mine (albeit in production ) had sold for $400m and that he was prepared to let our mine go at a massive discount. He emphasized the quality of the team , the location and above all the safe Iberian jurisdiction. The helpfulness of the local authority etc. We are however an exploration company and will require funding at some point next year. Hopefully we shall get the financials and geology clarified very soon and move from inferred to indicated (to comply with ASX rules).
Delisting from ASX and South africa was raised and explained as a legacy and not worth the expense to delist at the moment. Likewise the admin costs of 1m vesus 400k of exploration was also a legacy and admin will be seriously reduced current year.. Hey Ho. Laurence and T May do seem to have much in common. He dashes from presentation to presentation as the share price dwindles and the options shrink. Meantime we all sit back and hope he will pull a big rabblt out of his brief case. Fingers crossed for a better 2019.

https://media.moneyam.com/a/2018/12/Bezant-Resources-Laurence-Read-2.pdf

Martina07 . A great shame you were confounded by Northern train service. We need greater shareholder attendance
by folks like you and Hemo at these meetings. There are some folk quietly tucking away millions of shares but they rarely voice their opinions here. They were at the meeting though. One explained that IHO the risk/reward at this price was irresistible
I dont agree that we should surrender the licence pf Eureka an asset we paid $3.5m for. Nor do I think there is much risk of a nationalisation or Soviet style theft. President Macri is a serious conservative politician and Argentina is slowly rejoining the civilised western democratic world following Chile's excellent example. Peronism and military coups hopefully gone for ever.
I have emailed Laurence and asked for more information on the cash reserves and the prospects of the licence post 2020. The original MPSA was for 25 years and can be extended by another 25 I understand . Laurence was quite relaxed about our cash position and I think he needs to give us more details as to how we operate over the medium term if the share price remains in the doldrums. He hinted at a source of debt available to tide us over. When all is said and done we have two assets one proven and the other probable which are potentially worth tens of millions and I see no point in baling out at such a low price. Especially when all the pundits are predicting a surge in CU prices next year.

You are not being fair. On a personal note LR assured us he does not (contrary to many posts) cavort around the world flying business class staying in the best hotels. On a recent trip to HK he flew economy and stayed in the City Garden Hotel . A fairly modest place.He draws a small salary and has been paid in shares where possible. He is not a great salesman . Colin Bird is a better showman/promoter I would agree, but Laurence puts in the hard yards. All is not well as the SP demonstrates and I am very unhappy with the money I have lost here. However we have a plan and we should try to support LR as far as we can . I suggest you set up a meeting with him and probe a little deeper and then I report back to us. You are better qualified than me to do this .

went quite well. Generally agree with Kentlondon . Also reassured that the prospect of going bust is not on the radar. He assured us he has emergency funding arrangements available if necessary ( though he did not quantify the cost of this )
One new Bzt shareholder was a bit miffed that he paid .36p and he has dropped 30% in a fortnight. Hollow laugh from those who have been around some time. He thought he had bought in at the bottom! I pointed out that when you think you have reached the bottom you often discover a new bottom beneath the bottom. A false bottom alas!
Generally the consensus is that provided the Cu price takes off next year the Sp will soon bounce back quite quickly. At which point LR may tap us for cash to develop Eureka. But by then progress at a mankayan may transform our company. So Meantime all attention is focussed on Manakayan and the new approach laid down by Mining Plus should allow easier and cheaper access via Lift one . This will open up the market as Kentlondon has explained very well. Basically there are many more potential suitors who can afford to stump up $400m to reach profitability with 350m excavation depth than a billion dollars to mine at 1300m. So it is still a case of jam tomorrow but i am now more confident that we shall survive to taste it.

Registration at tomorrows meeting starts at 18.00 . Tea and coffee served at 18.00-18.30 Presentation starts at 18.30 sharp. Followed by a drinks reception.
Who is coming Randyranguard Kentlondon Martina07

Prickly will be wearing a small ceramic poppy in his buttonhole !

At the last AGM the directors set up a scheme to award themselves options. These were announced a couple of months ago at .50p and 1.p 87.5 m in total . The scheme was voted on at the AGM There were 82m votes for and my 15m votes abstained .
CB as we know has around 400k invested of the company at .45p . So everyone is underwater at the moment by a long chalk. I dont suppose LR had intended the Shares presentation tomorrow to be attended by disgruntled shareholders but he needs to come up with some positive news quickly or he will have nothing to present.

will l reveal he has been working tirelessly talking to all the major players in the copper gold mining and that we are on the verge of a major deal “with a big player who is well connected in asia.
However my worry is that he has neglected the “managed newsflow” that could have maintained the SP at a reasonable level and a consequence of this we are in a much weaker negotiating position.and will end up with a much lower price .

from 2p to .23p in just over 15 months . From ,45p to ,23p since April when Colin bounced into our world announcing it was the best value small cap on the AIM. A real bargain. . Well It is now twice as good a bargain sadly.
If i were a salesman presiding over this collapse I would fear for my job. We shall ask Laurence how he can justify his salary and expenses. Shareholders are fed up with being promised jam tomorrow . There will soon be no bread to spread it on.

Most of us medium to long termers have given up averaging down. Catching falling knives is dangerous and expensive and can lead to ruin (or riches) .
Eventually LR will have to deliver us a buyer/disposal or we will disappear into administration. The SP suggests there will not be a happy ending here .
Maybe LR will encourage us next week.