BZT – Bezant Resources

Latest Prices
Name
Price
%
Bezant Resources
37.50p
+29.31%
 
FTSE AIM All-Share
777
+1.45%

Mining
21,696
+0.89%

LONDON (SHARECAST) – Shares in Bezant, the AIM listed gold and copper miner, jumped today after it said it was in advanced negotiations to sell its flagship Filipino copper project.

The announcement came in a statement designed to trumpet completion of initial work on Bezant’s Eureka Project in Argentina.

However, analysts were more interested in the revelation that the favoured suitor for its flagship Mankayan project “is currently at an advanced stage in its comprehensive due diligence exercise and commercial negotiations with the board.

We remain confident of achieving a satisfactory outcome in the near future,” the firm said.

Charlie Long at Singer Capital Management said this demonstrated that very significant progress had been made since Bezant last communicated on the subject.

“Although as usual management caveat that there is remains no guarantee of a satisfactory conclusion,” he added.

Bezant’s shares jumped 29% on Monday following the announcement.