It would seem clear that multi-geography asset holder Bezant Resources are currently on a copper mission.
This may be timely given the way that the industrial metal have rebounded over a third since the March Covid-19 inspired sell off. Indeed, Covid-19 is not easy to shake off, a point witnessed by the latest announcement that their farm-out of Mankayan has suffered as a result of Covid-19 and difficult markets pre Covid-19.
The idea was for a Singapore listing with Bezant maintaining an interest in the Mankayan project in the Philippines. The Mankayan project is a large porphyry with some 1.4 million tonnes contained copper and 4 million oz of gold. The project is fully drilled out. But of course the Philippines has presented more than a few problems to foreign companies over the past decade. Things are changing and the Chinese are showing a real interest in investment across the board mining included. One would suspect that Bezant would be quite relaxed if this project came back to them.
Whether that be the case or not, it does appear that Bezant’s Executive Chairman Colin Bird remains very enthusiastic about his Kalengwa Project. It was was the site of an open cut mine in the 1970’s which produced 2 million tonnes at 9.5% cu. Even more interesting is the fact that over 25% of the ore extracted contained in excess of 20% cu with required no treatment before smelting.
Bezant management have secured this project which has over 15 targets ready for drilling and 13 km of which they describe as life strike with a number of intersections over the 13km distance. Management makes no secret of their general interest in copper and their search for large ore bodies which may support the shortage which is inevitably going to occur in the mid 2020’s. The company prefers Africa as its base and rumour has it that they are pursuing projects in Southern Africa which may lead to new copper production in the short term.
Colin Bird founded Kiwara Resources Plc, an AIM listed company, which discovered 1.5 billion tonnes at around 1.5% cu and sold it on to First Quantum for USD265 million. There are not many deposits of this size around or on the drawing board but management have a way of digging out these projects so this is a stock to watch not only as a proxy to a copper price rebound, but also with regard to the progress of the projects that Bezant Resources holds.
Disclaimer
Zakmir.com is a purely journalistic website – Zak Mir is a member of the National Union of Journalists. There is no intention here of providing financial advice. It is recommended you seek an independent professional opinion before deciding whether or not to take any action with regard to anything written here.
Disclaimer
Zakmir.com is a purely journalistic website – Zak Mir is a member of the National Union of Journalists. There is no intention here of providing financial advice. It is recommended you seek an independent professional opinion before deciding whether or not to take any action with regard to anything written here.
