Bezant Resources Share Discussion Threads

[foxx999] 01/4/2014 17:10

Bit confused here. Recent news release says Gold Fields still significant holder, but not on list of major holders - do vidacos hold on their behalf?I know Bezant said Gold Fields wouldn't let option lapse then take over Beazant on the cheap...but surely that's likely here now...

[foxx999] 01/4/2014 17:03

Haven't held for a while, but don't Gold Fields still own 20%?

[currypasty] 01/4/2014 14:48

just 6 m mcap

what a disaster area, directors should walk

[daytraders] 26/3/2014 11:46

well if share price gets to cash in bank i may take a punt, i got out at 22p after getting in at 52p, so lost loads here, would like to get it back.

[currypasty] 26/3/2014 11:35

just 7 mil mcap ?

[daytraders] 26/3/2014 10:30

just 3mill left ?

[currypasty] 26/3/2014 08:13

"The exploration work carried out by Gold Fields on our Mankayan Project during the reporting period has demonstrated that at least one part of the project is open at significant depth. Following Gold Fields' decision not to exercise its exclusive option, due to its own restructuring issues, we retain full ownership of their data as we now look to secure a new potential acquirer or partner for the project. We have taken the decision to scale back our exploration work in Argentina in order to better focus on delivering a satisfactory outcome for the future of our Mankayan Project."

[bruceylegs] 21/3/2014 14:23

Results next week I believe. Will hold on until then to see if there's an update (wishful thinking, I know).

[david77] 18/3/2014 09:27

This rat hasn't left. This share has got to be a bargain at the current offer price. The trouble is that there are several other bargains around competing for our funds, but this one is tempting. Something will happen eventually.

[lfc4ever] 18/3/2014 08:42

last rats leaving?

[currypasty] 12/2/2014 09:02

Bezant (AIM: BZT), the AIM listed copper-gold exploration and development company operating in the Philippines and Argentina, announces that further to the Company's announcement of 22 January 2014 it has now received and reviewed all of the technical data generated by Gold Fields Netherlands Services BV ("Gold Fields") in respect of its due diligence fieldwork on the group's Mankayan copper-gold project in the Philippines (the "Mankayan Project").

Highlights:

-- Additional diamond drill hole, BC-60, represents the longest hole drilled to date on the Mankayan Project with a total length of 1,491m

-- Hole BC-60 confirmed that mineralisation is present up to the end-of-hole length (1,491m), representing an increase of more than 200m from the previously known depth extent of the mineralisation on the eastern part of the deposit

-- 342m of high grade zone identified in hole BC-60 for an interval from 692m to 1,034m containing:

o Average copper grade of 0.6 per cent.

o Average gold grade of 1.01 g/t
-- Technical data received and reviewed included:

o Gold Fields' verification of Bezant's existing database, including the re-assaying of 4 historical drill holes, resulting in over 780 new multi-element assay results

o All survey data, digital logs, plans, sections, diagrams and assay results for drill hole BC-60

o Over 312 multi-element assay results returned for hole BC-60

o Digital re-logging and verification of all historical drill holes

Bernard Olivier, Chief Executive Officer, commented:

"As part of our agreement with Gold Fields we had the right to receive all data generated by them at the Mankayan Project following the expiry of their option. The work undertaken by Gold Fields is extremely useful as it shows the mineralisation to be open at depth with grades broadly consistent with our existing JORC compliant resource estimate on the Mankayan Project.

"The additional data, as well as the increase in the depth extent of the known mineralisation on the eastern part of the deposit, will be incorporated into our already comprehensive database and assist with the recommenced sale/JV process seeking to identify new potential acquirers and/or partners for the project."

[thetoonarmy2] 06/2/2014 16:38

Has BZT mothballed Argentine project?

[spob] 30/1/2014 04:36

Mid Price 12.25p, Mcap 10.16m, Number of shares 82.9m (29 Jan 14)
Spread 12 - 12.5

[russman] 23/1/2014 18:25

Zijin Mining used to like this patch.

[mazag2] 23/1/2014 12:28

Whilst the GF decision not to take up their option was disappointing it was not a surprise when it finally came. One can only assume that the FTAA they are waiting on is also taking far longer than expected...and of course with all the uncertainty surrounding the price of gold...cash conservation has to be their main objective in the near term - they recently set themselves an objective of being profitable at a gold price of $1250...so they are going to have work that much harder short term...

On the positive BZT were able to secure some hard cash from this affair and have benefited from additional survey work carried out at the mine by GF who also paid for such work to be conducted.

GF are still a shareholder and it would be interesting to hear more on what they plan to do with their holding in the near term from Bernard.
Given that they stand to benefit in the event of a sale there are good reasons for them to hold on to their stake...

I would like to think that BZT management were pro-active in reaching out informally to potential buyers given what I wrote above.

I personally see no reason to sell at this point but am now sitting at the current share price on a near 50% paper loss. Next few months will be important in terms of setting the tone and direction of a post-GF BZT

[currypasty] 23/1/2014 08:32

plenty of buying now downside risk of gold fields not proceeding is out of the way..

bring on the next buyer (or gold fields at a better price for them)

[bigdazzler] 22/1/2014 13:15

Sorry daytrader it wasn't to gloat just feel short term I have 'gotten away' with this one. I m sure long term they will sell out closer to value which will hopefully mean a higher price than today but I think this will first slide back to today's lows over the coming weeks. Just feel the I/c article has created almost a type of dead cat bounce which I was happy to grab at.

[daytraders] 22/1/2014 12:44

your lucky, i bought at 52p :(

[bigdazzler] 22/1/2014 12:34

God I feel like I've got out of jail with this one. After the investors chronicle article the price has moved back up allowing me to sell for a very small loss. I really feel I have made money by being given this window of opportunity whereas I have really made a small loss.

[david77] 22/1/2014 12:20

Thanks alan@bj

[currypasty] 22/1/2014 11:23

thanks steffy

£10m mcap is silly

gold fields paid 26p a share for their slice, they must know better than most what its worth. So they don't want to pay $63m now, will they offer half that ? I bet most punters would take it !

[steffyloveshares] 22/1/2014 11:02

video interview

Bezant Resources moves on after Gold Fields chooses not to exercise its option

Bernard Olivier, chief executive of Bezant Resources (LON:BZT), says the decision by Gold Fields not to exercise its option over the Mankayan copper-gold project in the Philippines means that Bezant will re-engage with firms that initially expressed an interest in the asset.

[currypasty] 22/1/2014 08:37

gold fields were going to pay $63m

mcap now £8m

they could make a bid for whole company for a fraction of what they would have paid, then just sit on the whole lot till they are ready.