25 May 2012

Bezant Resources

HOLD

17/12/2010 Robert Tyerman

Philippines-focused Bezant Resources has pleased with a maiden recoverable reserve estimate of 2.2m oz of gold and 811,000 tonnes of copper. The company says its independently-produced reserve and mineable inventory statement indicates probable ore reserves of 389m tonnes at modest grades of 0.46% copper and 0.42 grammes of gold per tonne of ore at Mankyan in the Philippines' mineral-rich Lepanto district.

Executive chairman Gerry Nealon, brother of Ed Nealon of Aquarius Platinum fame, says Bezant hopes to produce a conceptual 'scoping' study of the Mankyan project early in the New Year. Bezant shares, recommended by Growth Company Investor last year at 20.5p, have now reached 45p, up 7.25p this morning. Hold on for now.

Tags: AIM market, Gold and copper, Phillipines

Sector: Mining

Companies: Bezant Resources

Market cap: £23.2m

PE Forecast: n/a

Share price: 45p

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