Key Developments: Bezant Resources PLC (BZT.L)

BZT.L on London Stock Exchange

30 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Bezant Resources PLC announces ceasing of interest by Vulpes Precious Metals Fund
Wednesday, 7 May 2014 04:31am EDT 

Bezant Resources PLC:Says Vulpes Precious Metals Fund ceases 7,990,550 shares in capital of company.  Full Article

Bezant Resources PLC Announces Notification of Death of Gerry Nealon, Executive Chairman
Monday, 30 Sep 2013 10:30am EDT 

Bezant Resources PLC announced that Gerry Nealon, Executive Chairman, passed away late on September 27, 2013. Dr Evan Kirby, Non-Executive Director, will assume the role of Non-Executive Chairman on an interim basis with immediate effect.  Full Article

Bezant Resources PLC Receives Notification From Anglogold Ashanti Limited For Termination Of Mkurumu Joint Venture Project, Tanzania
Monday, 3 Jun 2013 04:39am EDT 

Bezant Resources PLC announced that it has received notification from AngloGold Ashanti Limited (AngloGold Ashanti) that further to a recent peer review of their various projects they have terminated the Mafulira Project, situated in the Kilindi District, Tanga Region, Tanzania, with the Mafulira Village Mining Company. Detailed analysis concluded that the Mafulira Project, which includes the Mkurumu Project, was not economically viable. As previously reported, the board of directors of Bezant fully impaired all of the exploration costs incurred in respect of the Company's Tanzanian projects in the Company's 2010 financial year. In March 2012, the Company announced that it had terminated the pre-existing joint venture arrangements with Ashanti Exploration (Tanzania) Limited (AETL) in respect of the Mkurumu Project and negotiated a new agreement whereby Anglo Tanzania Gold Limited (ATGL), the Company's subsidiary,holds a reduced free carried interest of 5 per cent. along with a Net Smelter Return Royalty of 2 per cent. of any potential future Net Smelter Return due to AETL. Accordingly, such new agreement has now been terminated further to the abovementioned notification from AngloGold Ashanti.  Full Article

Bezant Resources PLC Announces Proposed Extension Of Option For Disposal of Asean Copper Investments Limited
Monday, 10 Dec 2012 02:00am EST 

Bezant Resources PLC announced that it has entered into an option extension agreement to extend by twelve months the period in which the option granted to Gold Fields Netherlands Services BV on October 4, 2011 can be exercised. Gold Fields has also entered into a Subscription Agreement with the Company whereby it has agreed to subscribe for 17,945,922 new ordinary shares of 0.2p each in the capital of the Company for an aggregate subscription amount of USD7.5 million (approximately GBP4.7 million). Both the Option Extension Agreement and the Subscription Agreement are conditional on Bezant shareholders' approval. The Company entered into a conditional Option Agreement with Gold Fields on October 4, 2011, pursuant to which Gold Fields was granted an Option to acquire the entire issued share capital of Asean, a wholly owned subsidiary of Bezant. Asean holds the Group's entire interest in its flagship copper/gold Mankayan Project which as at June 30, 2012 had an audited carrying value of approximately GBP7.68 million. The Option Agreement was conditional on Shareholder approval, which was provided by Pursuant to the terms of the Option Agreement, the Option is exercisable by Gold Fields at any time up to and including January 31, 2013.  Full Article

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