REG - Bezant Resources PLC - Hope & Gorob Copper - Gold Project, Namibia Update

Bezant ResourcesAnnouncement

13/06/2024 07:00

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RNS Number : 2282S  Bezant Resources PLC  13 June 2024

13 June 2024

 

Bezant Resources PLC

("Bezant Resources", "BZT" or "the Company")

Update for the Hope & Gorob Copper - Gold Project, Namibia

 

 

Bezant Resources ("Bezant" or the "Company") is pleased to provide an update
on the Hope & Gorob Copper - Gold Project in Namibia. Letters of
preparedness have been received from the main contractors responsible for
future mining, processing plant construction and concentrate haulage and
Letters of Intent and offers for financing of an off-grid hybrid renewable
power supply for the Project.

 

Whilst the mining licence is pending, the Company has progressed all other
technical aspects of the Project including the finalisation of infrastructure,
mine and pre-concentrator  final designs,  audit and costing for the
repurposing of an existing flotation plant located within trucking distance of
Hope & Gorob to process pre-concentrate from the new mine and the adoption
of a renewable energy solution building on existing environmental initiatives
included in plant design. Other environmental initiatives include, amongst
others, minimising water consumption on site through the use of dry ore
sorting as a pre-concentration step.

 

Highlights

 

·    A leading contracting group has provided a final set of competitive
unit costs for mining, ore haulage to the ore sorting plant, haulage of
pre-concentrate and the transfer of a final concentrate to Walvis Bay for
export. Individual unit costs are in line with costs used in financial
modelling.

·    An international engineering group has confirmed its' readiness for
the construction and installation of the front-end crushing, ore sorting and
conveying circuits. With offices and workshops located in Swakopmund, the
group is well-placed to complete the project and provide continuous support
and maintenance services.

·    Preferred engineering, construction, and project management ("EPCM")
supplier has been identified and proposal received for the upgrading and
repurposing of the existing available flotation plant and Tailings Storage
Facility ("TSF")

·    Technical design and costing of a hybrid power supply solution
including renewables for the mine site has been completed and discussions are
underway to finalise a Power Purchase Agreement ("PPA") for the installation
of the bulk power supply.

 

Commenting on progress, Colin Bird Chairman said "We are pleased we have
completed the chain of contractor services that will make up the Hope &
Gorob mining operation. We are delighted with the feedback and response from
the contracting community, and we look forward to working with quality names
in a quality jurisdiction on a quality project.

 

In essence all the components required to start a new project are in place and
the Hope & Gorob has the makings of a pathfinder project for Bezant's
mining aspirations in southern Africa.

 

The project will be launched with a modest and readily achievable output of
copper together with a well-recognised potential to grow into a medium scale
operation and accordingly we intend to divert cashflow into a significant
exploration programme, the success of which will benefit all stakeholders".

 

For further information, please contact:

 Bezant Resources Plc

+44 (0) 20 3416 3695
 Colin Bird Executive Chairman
 Beaumont Cornish (Nominated Adviser)       +44 (0) 20 7628 3396

Roland Cornish / Asia Szusciak
 Novum Securities Limited (Joint Broker)

 Jon Belliss                                +44 (0) 20 7399 9400
 Shard Capital Partners LLP (Joint Broker)

 Damon Heath                                +44 (0) 20 7186 9952

Beaumont Cornish (Nominated Adviser)

Roland Cornish / Asia Szusciak

+44 (0) 20 7628 3396

Novum Securities Limited (Joint Broker)

Jon Belliss

 

+44 (0) 20 7399 9400

Shard Capital Partners LLP (Joint Broker)

Damon Heath

 

+44 (0) 20 7186 9952

 

or visit http://www.bezantresources.com (http://www.bezantresources.com)

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK Domestic Law pursuant to the Market
Abuse (Amendment) (EU Exit) regulations (SI 2019/310).

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

 

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