Financing of Accelerated Purchase Arrangement

Bezant Resources PLC

02 September 2026

 

 

2 September 2026

Bezant Resources Plc

("Bezant" or the "Company")

Hartree's Financing of Accelerated Purchase Arrangement for NLZM

Bezant Resources PLC ("Bezant" or the "Company") is pleased to announce that it has concluded an agreement with Hartree Metals LLC ("Hartree"), Bezant's financing and offtake partner, (the "Co-Investment Agreement"), to participate alongside Bezant in the financing of the accelerated payment arrangements related to the ownership of the NLZM Processing Plant, held under the new company name Tsaoxaub Metals (Proprietary) Limited, which was announced on 27 August 2026 ("Accelerated Payment Arrangements").

Highlights

·    Hartree's participation under the Co-Investment Agreement will further consolidate Hartree and Bezant's strategic partnership for the development of the Company's Namibian operations towards production and future expansion.

·  This new arrangement will significantly simplify the Company's financing  and security arrangements by removing the security due to CL US Minerals LLC, and further aligning the Company with a long term partner, Hartree  focussed on the financing and development of the Company's flagship Hope and Gorob project.

·    Full control and flexibility: The Co-Investment Arrangement with Hartree will enable Bezant to complete the remainder of its NLZM Processing Plant purchase obligation, providing flexibility for future modifications and expansion.

·    Significant replacement value: Bezant's in house estimates and industry knowledge assessed that replicating the plant and associated infrastructure today would require approximately US$30 million and around two years, highlighting the strategic value of the asset secured.

·   Operations advancing satisfactorily: Mine construction, pit blasting, ore stockpiling and plant modifications are progressing as the Company advances towards its objective of first concentrate production in September 2026.  The Company will be issuing an operational update during the course of this week.

Colin Bird, Executive Chairman of Bezant, commented: "The Co-Investment agreement represents another important milestone for Bezant and we are particularly pleased that Hartree, our financing and concentrate offtake partner, has elected to co-invest alongside Bezant to support the Accelerated Payment Arrangements agreed in relation to the acquisition of the NLZM Processing Plant.  We believe this is an another foundational step to establishing a long term partnership and aligning our respective interests as we advance towards production and future expansion.

It is less than 9 months since we completed the acquisition of NLZM and acquired the NLZM Processing Plant that was on care and maintenance.  Since then we have built out the Hope and Gorob mine infrastructure where we have commenced blasting and significantly completed the modifications and upgrades to the NLZM Processing Plant such that we are on target for first concentrate production in September 2026.  

Namibia has a long-established mining industry and good infrastructure, and our experience continues to reinforce our view that it is an attractive jurisdiction in which to build and grow our operations.

With production approaching, a substantial long-life resource base and the potential for even closer alignment with Hartree, we believe Bezant is entering an important new phase in the development of its Namibian business."

Co- Investment Agreement with Hartree

The Company has executed an agreement with Hartree pursuant to which Hartree will provide the US$5M due under the Accelerated Payment Arrangements and will in consideration for this financing be granted security and a revenue royalty and ore processing payments (the "Royalties") based on the terms of the Security Arrangements and Revenue Royalty granted to CL US Minerals LLC in accordance with the terms and conditions of the Share Purchase Agreement details of which were announced on 14 August 2025.  

Under the Co-Investment Agreement Hartree had an option until 15 September 2026 to participate under the Co-Investment Agreement and elected to exercise the option early.  Certain payment obligations under the Co-Investment Agreement remain subject to Namibian Exchange Control Approval.  

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law pursuant to the Market Abuse (Amendment) (EU Exit) regulations (SI 2019/310).

Bezant Resources Plc  Colin Bird Executive Chairman	[phone]
Beaumont Cornish (Nominated Adviser)  Roland Cornish / Asia Szusciak	[phone]
AlbR Capital Limited (Joint Broker) Jon Belliss	[phone]
Shard Capital Partners LLP (Joint Broker) Damon Heath	[phone]

or visit http://www.bezantresources.com

Qualified Person:

The technical information contained in this announcement has been reviewed, verified, and approved by Colin Bird, CC.ENG, FIMMM, South African and UK Certified Mine Manager and Director of Bezant Resources plc, with more than 40 years' experience mainly in hard rock mining.

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.

 

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