Business
Annual Report and Accounts
Annual Report and Accounts.
About this update from Bezant Resources Plc
[{"type":"text","content":"\n RNS Number : 6528K Bezant Resources PLC 23 December 2008 \n 23 December 2008\nBezant Resources Plc\n(“Bezant” or the “Company”)\n\nFinal Results for 30th June 2008\nHighlights\nMankayan Copper-Gold project, Philippines :\n \n· JORC compliant Inferred Resource 0.4 per cent. copper cut-off of approximately 277.7 million tonnes grading at 0.50% copper and 0.42 g/t gold.\n· Containing approximately 3.06 billion pounds (1.39 million tonnes) of copper and 3.8 million ounces of gold within Inferred Resource.\nTanzania :\n· Anglo Tanzania Gold Limited, had completed its 46 per cent. earn-in in respect of the “Mkurumu Project” in Tanzania, with Anglo Gold Ashanti retaining a similar 46 per cent. and the remaining 8 per cent. being held by indigenous Tanzanian locals. \n· Acquired package consisting of 9 highly prospective tenements with Prospecting Licences.\nCorporate :\n· £3.71 million cash in Bank at the period end.\n· Mr. Ronnie Siapno and Dr Evan Kirby appointed to Board.\n· As a consequence of exploration activities during the period, the Company incurred a loss after tax (but before impaired investments expensed) for the financial year ended 30 June 2008 of £910,000. Impaired investments expensed totalled £5,985,000 for the year.\nEvents subsequent to the results period:\n· Mankayan- currently near completion of 11,000 metre (ten hole) drilling programme.\n· Appointment of Matrix Corporate Capital LLP as sole Broker to the Company.\nCommenting today Gerry Nealon, Executive Chairman of the Company said: 'Bezant's core Mankayan Project is well on its way to firming up an indicated resource with the potential to generate a world class mine when compared to its peers, situated in the area of Luzon in the northern Philippines. These peers serve to clearly demonstrate the will, stability, port access and infrastructure that exists to support further major mining developments in the Philippines. We look forward to announcing results from the drilling early in 2009.\n\n\nFor further information, please contact:\n\nGerry Nealon\nExecutive Chairman, Be...