Directorate Change and CEO Appointment

RNS Number : 7715B

Bezant Resources PLC

15 January 2018

 

15 January 2018

Bezant Resources Plc

("Bezant" or the "Company")

Directorate Change and Chief Executive Officer Appointment

 

Bezant (AIM: BZT), the AIM quoted mineral exploration and development company, announces that Laurence Read has assumed the role of Chief Executive Officer ("CEO") of the Company following the resignation of Dr Bernard Olivier as CEO, both with immediate effect. Dr Olivier's resignation, with the agreement of the Board, is to enable him to pursue his other interests and he will be available to consult with the Company to assist with an orderly transistion of his responsibilities.

During his approximate five year term as CEO, from late January 2012, having previously served the Company since April 2007 as Executive Technical Director, Dr Olivier successfully oversaw the  exploration campaign on the Company's Mankayan copper-gold project (the "Mankayan Project") and the option transaction with Gold Fields Netherlands Services BV which enabled a distribution of £5.2m in cash to the Company's shareholders in late May 2013. The Board would like to thank Bernard for all his considerable work and dedication to the Company's development during his tenure.

Mr Read, an existing executive director of Bezant, will now, as CEO, lead the implementation of the Company's strategy as it seeks to generate value from its existing asset portfolio through project/asset level participation and potential future transactional activity. As announced on 6 December 2017, the Company is progressing a revised funding and partnering strategy to identify and secure appropriate development funding at the asset level for its gold-platinum production project in Choco, Colombia and, against a backdrop of steadily improving commodity prices, is also renewing its focus on realising potential value from the other assets in its portfolio comprising the Mankayan copper-gold project in the Philippines and a copper exploration project in Argentina. Further updates will be provided as and when appropriate.     

Laurence Read, CEO of Bezant, today commented:

"Bezant has an established portfolio of attractive precious and base metals projects in a current environment where such viable advanced projects are relatively scarce. During 2018, we shall seek to identify means of realising value from our significant reserves and resources at the Mankayan Project and the comprehensive operational and mining related data set for our Choco Project in Colombia, that can be rapidly developed into a full-scale mining operation with the right parters, which I firmly believe is the right course of action. I shall be working closely with the rest of the Board to assess the next phase of Bezant's development and look forward to updating the market accordingly in due course.

"I would like to take this opportunity to thank Bernard for the Company's significant accomplishments during his tenure as CEO and wish him well in his future endeavours."

For further information, please contact:

Bezant Resources plc                       Laurence Read Chief Executive Officer Strand Hanson Limited (Nomad) James Harris / Matthew Chandler / James Dance Peterhouse Corporate Finance Limited (Broker) Lucy Williams / Duncan Vasey / Heena Karani Beaufort Securities Limited (Broker) Elliot Hance or visit http://www.bezantresources.com

Tel: [phone] Tel: [phone] Tel: [phone] Tel: [phone]

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014.

 

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