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Marechale Capital Plc - Trading Update
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Bezant Resources PLC (AIM:BZT) | RNS | Bezant Resources PLC - Issue of Equity and Total Voting Rights
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Bezant (AIM: BZT), the copper-gold exploration and development company, is pleased to announce the commencement of diamond drill target testing over the Kalengwa exploration project area in Zambia (the Kalengwa Exploration Project ).
Highlights
· Maiden Bezant diamond drill programme of about 800m at Kalengwa to test the first two priority exploration targets based on review of extensive historic exploration datasets
· The Kalengwa SW2 target, with strong coincident magnetic and copper geochemical anomalies straddles the major Kalengwa Lineament structure just 2.5km southwest from the former mine
· Previous Aircore/RAB drilling within the weathered profile at the SW2 target reported intervals returning 19m @ 1,259ppm Cu and 4m @ 1,962ppm Cu - no recorded historic bedrock drilling
Pathfinder announces that it has entered into an agreement to conditionally raise £300,000 before expenses by way of a placing of 60,000,000 new Ordinary shares of 0.01 pence each ( Ordinary Shares ) at a price of 0.50 pence per share ( Placing Shares ) (the Placing ). The net proceeds will provide the Company with additional working capital as it pursues the recovery of its mining licences in Mozambique. Further to the RNS announcements of 16 December 2020 ( Bilateral Investment Treaty Claim - Legal Opinion ), 30 November 2020 ( Recovery of Costs Awards ) and 2 November 2020 ( Company Strategy Update ), the Board believes Pathfinder now has the necessary tools in place to enable it to monetise the licences either through a litigation funded legal claim against the Government of Mozambique or, should a diplomatic resolution be achieved, through the development of the project by a strategic partner. Either outcome should, if achieved, result
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