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Bezant Resources Share Discussion Threads
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|"In 2013 Bezant returned $7.5m to shareholders, part of the profit it made from its Filipino copper-gold project, Mankayan. This makes Bezant one of a small handful of AIM exploration companies that has returned cash to its investors."
I don't remember sale of mankayan making a profit!
The cash returned was a small portion compared to the shareprice 5 years ago|
Last year Bezant entered the platinum space via the acquisition of an alluvial project in Choco province, Colombia. With funds raised in a recent £1.2m placing, Bezant started trial mining and today announced it has recovered first platinum & gold. The shares have started to respond, but we see further upside.
Assuming this trial stage produces in line with expectations, management plans to scale-up production over the next 24 months using modular recovery plants. One plant can process up to 120 cubic metres per hour and should achieve annual production of 10koz to 15koz. Each plant is expected to cost $4m -$6m to install, and could be replicated across Bezant’s 27Km2 licence area.
Given the team’s expertise in both platinum and alluvial mining, we are confident it can deliver, at least operationally. Trial mining will dominate newsflow over the coming months and key milestones such as first metal or grade estimates should provide catalysts. We initiate with a 4.5p target price and Speculative Buy recommendation.
Choco Platinum Project, conceptual economics
Historical and existing production from Choco demonstrates the profitability of its alluvial platinum industry. More specifically, Bezant’s FKJ-083 license has a tax paying history. Management is targeting production costs of between $700/oz to $800/oz which should provide a decent cash operating margin.
Potential for large scale
Bezant holds options over a significant land package covering a total 27km2 which depending on the distribution of the mineralisation has the potential to host >1Moz of platinum and gold. If the trial mining phase is successful, we expect Bezant to increase its footprint in the area.
Management’s relevant expertise
Management has both platinum and alluvial mining expertise. The Chairman Edward Nealon built Aquarius Platinum Plc and Sylvania Platinum Ltd and Bezant’s experienced team spent two years evaluating this project.
Platinum Group Metal outlook – positive medium term
We have a positive medium term (2-5 years) outlook due to the high cost of production in South Africa, which means that circa 25% of its mines are break even or loss making and 75% are making insufficient cash to justify expansion. This should result in a higher PGM prices or production will fall and mines close.
Bezant’s good track-record – returning capital
In 2013 Bezant returned $7.5m to shareholders, part of the profit it made from its Filipino copper-gold project, Mankayan. This makes Bezant one of a small handful of AIM exploration companies that has returned cash to its investors.
Valuation and recommendation
Our sum of the parts valuation is derived primarily from a conceptual DCF model of the Choco Platinum Project. We calculate a $11m risked NAV for a 4.5p price target and Speculative Buy recommendation.|
|So the beaufort entity come up with a buy rec then within weeks a raising!
Yes , i like to buy stocks shot to pieces , but my bargepole is long with this one.
I have been just keeping an eye on it for about 5 years , i thought it turned a corner but now this.|
|I didn't bother... lost enough on this shower|
|great discounted placing :(|
|I had shares in Toledo Mining. That had a large nickel deposit in the Philippines. They spent years trying to get permission to mine the stuff. Eventually, they gave up. They sold the site to a local who was granted permission within a few months.|
|Stockomendation: Risky Buy Bezant Resources (BZT) by Beaufort Securities|
|I see the Philippines hav shut down most mining in the Country including Lepanto , next door to BZT's undeveloped Mankayan Project, 4 days ago.
I guess that pretty much puts the final nail in the coffin, for that Asset ever being sold to anyone for a decent sum, or at all ?!
|What was visible in the sampled concentrate?|
|There were 22 test pits. Is this an average or there are more sample results to come. I thought there was visible "gold".|
|Does this calc at 0.2 g/t. Have I got the decimal in the right place.|
|shall we guess that 1 cubic metre weighs 1500 kg.|
|Yep 300mg per cubic metre, that's wot it says, though tailings uneconomic @100mg, so they won't be bothering with those.
Further drilling and DFS to come, which should awaken interest.
IMHO, DYOR, GLA.|
|Is the grade 300mg per cubic metre.|
|Today !! Yay !!
We're going into production, by the looks of things, but tailings worthless.
New Platinum Mining model, so could be interesting.
Not many shares around, or in issue, and competent management team, in Ed Nelaon and Bernard Olivier, with Evan Kirby as Geo.
Wont b on many investors radar screens, but liquidity is a problem at moment, despite recent placings.
Its a "lock and load" then wait and see situation, which could have pleasing results. Ed Nealon took Aquarius Platinum from a share price of 7p to £17 /share 12 years ago, so he has the Platinum experience and contacts.
IMHo, DYOR, GLA.|
|5 weeks & counting.|
|Maybe 4 weeks.Happy Christmas.|
|I was thinking 2 weeks seems reasonable|
|I think a week is reasonable.But was there any mention at the AGM.|
|How long does it take to assay a sample of concentrate.|
|Delayed 46.25k buy from yesterday just showing..|