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The plant was discussed at the AGM and the $2.6m refurbishing cast was included in the $10.00m capex costing. I had not realised we were going to purchase it or 90% of it. The key news here is that it is near Walvis bay and hence relatively cheap for trucking preconcentrate and then the treated concentrate on to be shipped. Alternative processing plants were hundreds of kilometers away inland and expensive to truck ore to. He also said it would take no longer than 6 months to get up and running. So we have our processing plant which we can use to service other miners and we have it for a snip.

In the podcast CB mentioned the copper price cost that he had modelled the viability of HG on. Happily we are way over the 7.5K per ton figure.

He said we will be creating $25m free cash flow within 24 months . He also said they are advancing with the funding and it sounds more and more like he will be arranging a prepayment financing deal with one of the major metal traders amongst other options. I am not surprised the SP has risen significantly. I think it has finally dawned on the market and the skeptics on this board that we have a very exciting and profitable business within our grasp.

I have discussed this very point RMC., namely the skill sets required to to establish a mine and those needed to operate a mine. The first are primarily entrepreneurial and the second are mainly managerial. CB pointed out they are very different although some overlap obviously.

We should not mistake absence of news for absence of activity. There is a lot going on behind the scenes and engaging the right people is right up there.

June 25th was final confirmation of the Mining certificate.

July 25th we heard at the AGM that several offers of funding had been received.

According to Chat Gpt we should expect to wait 4-8 weeks to set up an SPV to fund and operate our Hope Gorob project.

I hope there is not too much legal complexity. I know we have to keep the Namibian authorities informed. Hopefully we could expect to hear from CB in the next three of four weeks. it would be useful if the key decision makers are not away on an August shut down . Confirmation of funding should push the SP up many notches

Thanks RMC.

Are shareholders not obliged to inform when their holdings drop below the 3% disclosure threshold?

Maybe they did nae bother,

RMC

How do you know Watson and Johnson have sold their holdings.?They are still listed on the website . And TR-1 s of 29th October and 20th Feb 25 record their purchases.

I pushed CB as you know for news of funding and although he cannot give any material info to a mere shareholder he has assured me that all is going well and reminded us that in these negotiations the govt needs to be kept informed

Churchill said the Americans can usually be counted on to do the right thing, but only after trying everything else. The current President is testing this theory TACO Donald and has ultimately made a sensible decision and exempted raw copper from his tariff regime. But not before throwing the whole market into turmoil. As Bzt will be an exporter of concentrate we should not be affected in the medium term but this chaotic regime will have short term implications for Cu price as US traders dump the stocks they had gambled on being tariffed.

I am not going to get any further involved with Mr T as it is clearly not worth the effort but I will merely provide one response from one of my posts on Reddit which clearly shows that some people take notice of comments and do invest. So it is not all poppy..... and garbage !

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u/Tough_Percentage7588 avatar

Tough_Percentage7588

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1mo ago

Just coming back to this post to say thank you for this tip! I saw it the other day and bought in and it's up 30% since then. I didn't put in a lot because I don't put a lot of trust in penny stock tips but this was a good one!

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scoobysnacks1

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1mo ago

Happy to see you have profited from Bezant. Hang in there We think that as soon as the project finance is announced it will appreciate significantly.

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u/Snoo_71166 avatar

Snoo_71166

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1mo ago

CB stated at the AGM that he had received several offers of finance. I know this because I was there. . Why an invested shareholder would choose to deny this is beyond me unless they think I am making it up.. The final licence approval arrived last month. Why say it is Two years since we received the license ?

Does anyone know any metal trading financier who would agree to fund a serious project before all the government approvals had been settled?

Where did anyone say we would have to renegotiate if the price of copper goes up or down ?

Complaining and denying progress is a strange way to encourage new investors . I post on Reddit and Hot Copper. as well as here.in an attempt to widen our investor base so I think I am doing my share to promote BZT . The SP has recovered from the depths over the last few weeks on the prospects of H & G and I think it will go a long way in the near future.as H & G is developed and news of the value of the extension is factored in.

The production figures are in the Chairman's statement and I quote" On full production we expect to produce concentrate containing some 7000 tons of copper equivalent per annum. The production will generally be obtained from open pit mining for at least 6 years and we are confident that open pit mining will continue for an extended period yet to be defined by drilling. " CB updated us with the approx capex of $10m. He also stated at the AGM we have several funding offers which are being considered. It is not correct to say funding packages have not been obtained, unless you mean the details have not been announced. CB is not going to discuss these publicly until the BOD has finally agreed them. We will get them soon and we will have to approve them. Investors will have to make up their own minds whether to invest or not before or after the details are made public. Given that the funding ahould allow us to produce an annual income of $20-m after expenses then I know what I would do.

Mr T

you would think we shareholders would avoid shooting ourselves in the foot . Or both feet. However if we vote down preemptive rights waivers then we can seriously impair the BOD in their efforts to secure funding packages

I missed the voting percentages on the resolutions at the AGM but I gather resolution 7 was close . No doubt shareholders were attempting to make more dilution difficult, a not unreasonable standpoint given our history.

But we have offers of funding on CB's desk and they will come with strings attached such as equity requirement and we do not want to throw out these babies with disgruntled anti CB bathwater.

I agree RMC and also tried to top up and couldn't get the trade through on time..

I hope we can get this funding package/SPV quickly announced .

We must ensure that we do not have any kami Kaze anti Bird shareholders who try to out vote the process.at the EGM. We do not need any one rejecting this particular gifthorse especially as it may require a 75% majority. In this case a Bird proposal in the hand is worth more than two in the Namibian Bush.

Thanks for the appreciative remarks .

There were three other items from the the Q & A which i should perhaps mention... Namely succession, outright sale and Steinert ......

We touched briefly on the succession planning ....CB pointed out they now have two bright young geologists who I presume they deploy throughout the CB companies and he does have a very strong team around him. He sees his role as leader as prodding the execs when they need encouraging. I got the impression he would like to see H & G up and running before anything else..... Not an entirely satisfactory answer but showed he had considered the issue.

He also brought up the possibility of an outright sale . At this point it would mainly be sale of a license and he thought it best to develop the project and in the process they could unearth the value of the massive extension (40km) which he hopes will turn this open pit project into a much more valuable concern.

Lastly he was keen to discuss the value of the Steinert technology which will Xray the feed ore. This onsite screening monitored from Germany would dramatically increase the value of preconcentrate by upgrading it and discarding barren material and hence reduce the transport and flotation fees by 50% or more.

I ought to add that attending the AGM and hearing the level of detailed planning that has gone into H & G has persuaded me that it is definitely now a matter of "when "this project starts producing not if.

My son who is a bit of a cynic regarding mining shares and my dinosaur attitudes has finally invested!

Interesting times ahead..

I missed all the formalities because I was 15 minutes late, i was at Old Trafford yesterday and massive train delay getting back to Euston and home at 2pm. Anyway the interesting bit is always the Q & A. Sadly only two other shareholders turned up. Pricey is away in Europe somewhere.

CB started by mapping out the layout and geography of H and G on a whiteboard He then detailed the plant and equipment necessary including the costings to get the plant up and running. This came to about $10mUSD and allowed for $2.6 to upgrade the flotation plant . This $10m also gives us sufficient cash flow to build up a 3 month stockpile to send off to the flotation plant where it is processed . At this point a prepayment off take agreement will kick in.

There would be approximately 7 months between starting up the project and first income.

.The concentrate is shipped off to smelters via Walvis Bay. Currently the Chinese are paying a premium for concentrate at their smelters. The trucking and ore sorters, Steinart have been agreed at very good rates.

CB has several offers of funding across his desk. This is not surprising . Bear in mind the high Cu price and the lack of new licenses being awarded > we are in a strong negotiating position The funding will probably involve an SPV where we hand over a percentage of the income, as previously discussed.

CB envisaged the mine should build up to 7K tons pa within 2 years

It is a matter of choosing best partner and then putting these funding and production plans into an RNS altogether as the Nomads have instructed. Nomads have advised that given the transformational nature of this project , as much detail as possible should be combined in the RNS .They will need shareholder approval via an EGM. This what is taking up the time at the moment...

Most of this is already in the public domain and the key information which I believe he is permitted to reveal is that he has several offers of funding on his desk. . I should say the BOD has not yet decided who nor what the terms of the agreements are.

I would like to add that I do not attend the AGM to "recite the blurb and excuses" but to better understand and relay back to you folks as much information as i can extract. CB is keen to convey the great progress BZT has made with this project and he graphically described the many many hours he sat waiting outside government offices . Ultimately he got the reward of a very important mining licence which he should be commended for.. Apparently no other company has been awarded one lately.

For the record the 5 million trade at 15.33 was my buy not a sell. Just in case a sea of red confuses you'all when the copper price is at a record high. I see Swanny is busy buying up AFP .

I shall nudge him Pricey about his future plans given operating and managing a copper and gold mine might be a bridge too far for our venerable leader., what with all his other commitments . I am not sure how much of the record price is sustainable allowing for the tariff debacle the Orange buffoon is creating but it does seem good news for producers and will surely make it easier to raise funding.

Is owned by a Namibian company. It is a legal requirement to have at least 15% owned by local interests.

Is anybody here planning on going to AGM. I shall be asking the obvious questions about funding and production timelines.

Anything else posters would like me to raise?

Speaking of paybacks the 12 feb RNS envisages a 20 month payback . This would have been calculated at prevailing copper price ' The price has risen dramatically by 40% YTD which will be a massive boost to the economics and profitability of this project.

I agree with MFM and I fully expect a funding schedule soon. Hopefully at the AGM CB will outline his plans.

Key points are the presence of near surface chalcocites (RNS 12 feb 2025) which make Hope Gorob a minimal capex starter pit. This allows a quick payback and makes funding a lot easier.

I have acquired more this morning and am also expecting a quick payback.

The Capex for developing Mankayan was around $500m usd. Way beyond BZT and only really viable as a JV with a major for Blackstone. Most of the value in BZT lies in Hope Gorob and we can just sit back and hope BSX manages our holding efficiently as I expect they will. The idiot across the pond has succeeded in destroying thousands of businesses and has just caused wild gyrations in the copper price with his ludicrous tariff proposals . Quite how he thinks the great reshoring of US manufacturing is going to cope with a 50% surcharge on a key component is staggering . Of course I forgot he is a clueless and is probably unaware that USA has only two smelters and imports 50% of its copper.

CB has said the best prefinance is via off-take agreements

We shareholders are very keen to avoid dilution and with such a (still) low SP a raise is not an option.

So we get a trader or smelter to agree to buy the copper concentrate ahead of time with upfront payments.

Effectively the traders advance money against future production”

→ Traders (like Trafigura, Glencore, IXM, etc.) will provide prepayment or working capital secured by the future copper output.

“The payment size is geared to production on a rolling facility”

→ The funding will be proportional to expected output, and the rolling basis – means as copper is produced and delivered, more funding can be drawn down or repaid and re-advanced. This resembles a revolving credit facility tied to delivery performance.

A strong copper price helps and our shovel ready open pits, fully permitted can be the following wind which facilitates this funding process. I am hopeful this framework will be presented to us shortly. The shareholding in BSX must make this sort deal easier.

Maybe Cyber is right that we may not need as much $15m and in any event it could be staggered . we should not be kept waiting for long as I am sure CB would want to avoid the fate that RMC has suggested would await him otherwise!