Final Option Payment re Colombia

RNS Number : 7799A

Bezant Resources PLC

03 January 2018

 

3 January 2018

Bezant Resources Plc

("Bezant" or the "Company") 

Final Option Payment made in respect of two alluvial, platinum

 and gold licences in Colombia

Bezant (AIM: BZT), the AIM quoted gold and platinum development company, is pleased to confirm that, further to its announcement of 26 April 2017, the Company has now made the final payment due with respect to its exercise of the option held by Ulloa Recursos Naturales S.A.S. ("Ulloa"), its wholly-owned Colombian subsidiary, over two alluvial platinum and gold licences located in Choco, Colombia (the "Option").

Highlights:

·     Final option payment of US$200,000 made, thereby securing the Company's interest in two alluvial platinum and gold licences, FKJ-083 and HCA-082, in Colombia (the "Licences") (the "Final Option Payment")

·     Following the Final Option Payment and completion in full of the Option exercise, Bezant, via Ulloa, now holds a 100 per cent. interest in the Licences, which cover a total area of approximately 2,659ha

Following test pitting and sampling of the 91ha HGE-082 licence and evaluation of its economical viability the Company has decided not to exercise its remaining option over HGE-082 but to instead focus on the larger and more prospective FKJ-083 and HCA-082 licences.

Edward Nealon, Non-Executive Chairman of Bezant, today commented:

"We are pleased to confirm that, following the Final Option Payment, Bezant now holds a 100 per cent. interest in the FKJ-083 and HCA-082 licences in Colombia. Following our extensive extraction work completed on FKJ-083, grade testing results and completion of the Option exercise, the Company now owns a significant land package within the Choco gold-platinum region. As announced previously, the Company is currently persuing asset level development / funding routes for its Colombian gold-platinum production portfolio and it is expected that completion of the Option exercise will assist us with this strategy."

For further information, please contact:

Bezant Resources Plc Bernard Olivier Chief Executive Officer Laurence Read Executive Director / Communications 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] 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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