Bezant Resources PLC (AIM: BZT) has agreed a co-investment arrangement with financing and offtake partner Hartree Metals LLC to help fund the accelerated purchase of the NLZM processing plant in Namibia.
The agreement will see Hartree participate alongside Bezant in financing the accelerated payment arrangements for the plant, now held through Tsaoxaub Metals (Proprietary) Limited.
Highlights
· Hartree’s participation under the Co-Investment Agreement will further consolidate Hartree and Bezant’s strategic partnership for the development of the Company’s Namibian operations towards production and future expansion.
· This new arrangement will significantly simplify the Company’s financing and security arrangements by removing the security due to CL US Minerals LLC, and further aligning the Company with a long term partner, Hartree focussed on the financing and development of the Company’s flagship Hope and Gorob project.
· Full control and flexibility: The Co-Investment Arrangement with Hartree will enable Bezant to complete the remainder of its NLZM Processing Plant purchase obligation, providing flexibility for future modifications and expansion.
· Significant replacement value: Bezant’s in house estimates and industry knowledge assessed that replicating the plant and associated infrastructure today would require approximately US$30 million and around two years, highlighting the strategic value of the asset secured.
· Operations advancing satisfactorily: Mine construction, pit blasting, ore stockpiling and plant modifications are progressing as the Company advances towards its objective of first concentrate production in September 2026. The Company will be issuing an operational update during the course of this week.
Bezant said the arrangement will simplify its financing and security structure by removing security due to CL US Minerals LLC, while further aligning the company with Hartree as a long-term financing and development partner for the Hope and Gorob project.
The funding is intended to enable Bezant to complete the remaining purchase obligations for the NLZM plant, giving the company greater control and flexibility over future modifications and expansion.
Bezant estimates that replacing the processing plant and associated infrastructure today would cost around US$30 million and take approximately two years, underlining what it sees as the strategic value of the existing asset.
Operational work is continuing across the Namibian project, including mine construction, pit blasting, ore stockpiling and plant modifications.
The company said it remains on target to achieve first concentrate production in September 2026, with a further operational update expected during the week.
Executive chairman Colin Bird said Hartree’s participation strengthens the strategic relationship between the two companies as Bezant moves toward production and considers future expansion of its Namibian operations.
