Business
Acquisition of Production Plant in Choco, Colombia
Acquisition of Production Plant in Choco, Colombia.
About this update from Bezant Resources Plc
[{"type":"text","content":"\n \nRNS Number : 6146G Bezant Resources PLC 31 May 2017 \n\n31 May 2017\n \nBezant Resources Plc\n(\"Bezant\" or the \"Company\")\n \nAgreement for Acquisition, Commissioning & Operation of Initial Gold-Platinum Production Plant in Choco, Colombia\n \nBezant (AIM: BZT), the AIM quoted mineral exploration and development company, announces that yesterday, 30 May 2017 it signed an agreement with Exumax S.A.S. (\"Exumax\") (the \"Mining Services Agreement\"),encompassing the acquisition, commissioning and operation of the Company's first gold-platinum production plant with commissioning targeted to occur during Q2/Q3 2017. In connection with the Mining Services Agreement, the Company has also signed an agreement to acquire a Panamanian special purpose vehicle, Kellstown Investments Corp (\"Kellstown\") (the \"Acquisition Agreement\"). Kellstown via its wholly owned subsidiary owns both a processing plant and mobile test plant (the \"Mining and Exploration Equipment\") and certain other mining equipment (the \"Equipment\") which will be utilised in mining operations on the Company's FKJ-083 mining licence in Colombia. Kellstown also holds, inter alia, intellectual property rights in relation to the Mining and Exploration Equipment, and certain proprietary geological information and other data and intellectual property rights for use by Exumax in performing its services under the Mining Services Agreement.\n \nExumax is a private Colombian based alluvial mining company which, since September 2016, has been progressing the Company's exploration and development programme on its near surface platinum and gold assets located in the Choco Region of Colombia (the \"Choco Alluvial Gold-Platinum Project\").\n \nHighlights:\n· Under the terms of the agreements signed, Bezant has acquired a fully-equipped, purpose built modern alluvial processing plant currently situated in Colombia and ready for mobilisation to site:\no Mercury-free alluvial processing plant capable of processing up to 100m3 of material per hour (approximately 150 tonnes per hour)\no First modern plant of its kind to be utilised on the deposit\n· In addition, engineering blue prints and all technical plans, schematics and data acquired, to enable Bezant to r...