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Bezant Resources Share Discussion Threads
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|Lets guess at 265 days.|
|The initial plant has capacity of approx 2.7k per day.How many days in a year will it produce.|
|I estimate that 1 plant has to shift 15k t per week.|
|B/even is 0.17 g/t.There are 31g to a troy ounce.So how many t do they need to shift in a year to acheive b/ even.|
|I may be being really thick yet again.But I think think it is a big mountain.|
|From last weeks RNS, hope this helps.
"The Choco Project's model for platinum and gold recovery operations is based on the deployment, over time, of multiple sub-US$1 million dry mining plants each designed to process up to 1,800 mg/m(3) per day with a break-even opex cost below US$800/oz of gold and platinum based upon the recent 2017 scoping study results.
The Company is targeting mine development, plant acquisition and commissioning as well as first production during Q2 2017."|
|How many tonnes do BZT have to process to get b/even @ 0.17g/t.|
|Bezant Resources (BZT.L, 1.20p) – Speculative Buy
Bezant has published good results from phase 2 of its bulk sampling programme. For us the highlights include an average combined grade of 0.33 grams per m3 versus the scoping study's breakeven grade of 0.24 g/m3, and highest grades of 1.72 g/m3 (equivalent to 1.23g/t) from an area of virgin platinum and gold gravels. The programme also indicated that the base of the mineralised gravels are on average 18-30m deep i.e. as expected and not too deep. Apart from these depth and grade data, the most important news is that Bezant is now targeting mine development, plant acquisition and first production during 2Q17.
Our view: Bezant is moving ahead with the development of its Choco Platinum-Gold Project and is targeting first production as soon as this quarter with name plate capacity in 2H17. The upfront capital is sub $1m (Bezant recently raised $1.24m) and assuming this goes well, Bezant will look to roll out multiple plants across its large Choco Province land package. Bezant is expecting costs to be in the region of $768/oz of gold and platinum which should equate to a c.30% margin at current prices (depending on the final gold-platinum split and the refining cost). Bezant is one of the very few AIM mining companies moving into production this year and we reiterate our Speculative Buy recommendation.|
|Wot a load of old b*ll*xs!|
|nicely said in other board.
hopefully those buying dont get spiked and stuck , only later to know platinum project is very small and worth only less than 3m (see their previous RNS)
just saw this morning RNS and at first was excited about the platinum project.
then I realised, the size of assets is very very small, and even production this year, will only generate less than 500k (and we raised 1m for that at huge discount!) .
that's means, more placing later the year (despite one only last week) and mcap is already expensive for small asset.
so, decided not to buy BZT and went to top up JLP instead, with their massive tailing project with NPV around 200m and mcap only 50m and production on the way.
good luck all. dont gets in without research.|
|Bezant Resources Plc
("Bezant" or the "Company")
Choco Alluvial Gold-Platinum Project: Phase 2 Gold & Platinum Recovery Results
Bezant (AIM: BZT), the AIM quoted mineral exploration and development company, is pleased to announce the Phase 2 gold and platinum recovery results from its Choco alluvial Gold-Platinum exploration and development project located in Western Colombia (the "Choco Project"). The results are for material from within the proposed mining area of the FKJ-083 licence and the samples were taken below pit floor level from the Phase 1 exploration pit and include virgin ground. These latest results demonstrate gold ("Au") and alluvial platinum ("Pt") recoveries at grades well above the 0.17 grammes per tonne ("g/t") (238 miligrams per cubic metre ("mg/m3")) break-even point, determined by an independent scoping study, announced earlier in the year. The Company has now initiated the development of a dry mining operation and scheduled to begin mine development and production in Q2 2017.
· Independent scoping study announced on 8 March 2017 for dry mining on the Choco Project calculated a:
o 0.17 grammes per tonne (238 mg/m3 ) break-even grade for combined Pt and Au
· Initial Phase 2 recovery analysis for gold-platinum from the FKJ-083 licence area:
o 37 individual samples in aggregate from 14 pits with a total of 23.5 m3 (32.9 tonnes) extracted and processed
o Average combined volume weighted Pt and Au grade of 0.235 g/t (329 mg/m3)
o Samples taken from the Phase 1 pit floor at depths between 9.5 and 17.5 metres below the surface
o Highest combined grade from virgin platinum and gold bearing gravels was 1.23 g/t (1724 mg/m3)
· Phase 2 work-plan summary:
o Focussed on pitting, sampling and testing located, on the bottom of the Phase 1 open pit
o Concentrates treated and grades established through the onsite platinum and gold recovery laboratory and offsite refining of particles below 250 microns
The two principal recovery metrics used by Bezant during the assessment period were: grammes of precious metal recovered per tonne and milligrammes of precious metals per cubic metre of material. The [metric cube/cubic metre] measure has been used to assess the throughput rate of ore that can be processed by the initial dry mining plant to be developed at the Choco Project.. The Choco Project's model for platinum and gold recovery operations is based on the deployment, over time, of multiple sub-US$1 million dry mining plants each designed to process up to 1,800 mg/m3 per day with a break-even opex cost below US$800/oz of gold and platinum based upon the recent 2017 scoping study results. The Company is targeting mine development, plant acquisition and commissioning as well as first production during Q2 2017.
Ed Nealon, Chairman of Bezant, today commented:
"These Phase 2 recovery results demonstrate the consistent levels of gold and platinum occurring in areas previously untested for precious metals and compare favourably with our Phase 1 results that were used to verify mining data from historic operations. Grades of both platinum and gold occur at levels well above the break-even point determined by the recent INGEX scoping study commissioned by Bezant and released to the market during the first quarter of 2017. We are now in the process of foccussing on the development of our first full-scale platinum and gold production operation that we have targeted for commissioning during Q2 2017. I look forward to updating shareholders as we meet these objectives in due course. The Choco province is an extremely exciting and long established platinum and gold field and Bezant has a clear first mover advantage in applying a coordinated, cost effective recovery operation in the area which focuses on low capital expenditure and achieving attractive margins with near-term cash flow."
|RNS out from BZT and it's a big [long] one!|
|That 10p-12p area on CURRYPASTY's chart dingo75 looks like the sort of share price levels BZT could well get to hit!|
|chipperfrd27 Mar '17 - 09:33 - 2814 of 2817 1 0
Perhaps there is a degree of 'end-of-tax-year' portfolio adjusting going on. It is fairly normal on the LSE at this time of the year. If so, it will all end soon.
|"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?|