Prepayment Facility and concentrate offtake agreed
Summary by AI BETAClose X
31 October 2025
Bezant Resources PLC
("Bezant" or the "Company")
Hope & Gorob Project Prepayment Facility
and concentrate Offtake term sheet agreed
Bezant Resources ("Bezant" or the "Company") is pleased to inform shareholders that it has entered into binding term documentation for a conditional prepayment facility of up to USD 7 million and an associated concentrate offtake agreement with a globally recognised commodities trading company (the "Financier"), to support the development of the Hope and Gorob copper project in Namibia ("Financing and Offtake Agreements").
Highlights
· The Financing and Offtake Agreements are subject to completion of the acquisition of a 90% shareholding in Namib Lead and Zinc Mining (Proprietary) Limited ("NLZM") (as announced by the Company on 14 August 2025), customary closing (including completion of standard final due diligence) and execution of full-form definitive agreements. The Financier will be named when the full form definitive agreements are signed.
· The prepayment facility is structured as a senior secured facility made available in tranches totalling up to USD 7 million. An initial advance of USD 3 million is expected to be made at closing, with the balance of up to USD 4 million to be disbursed at agreed intervals prior to commissioning, subject to satisfaction of agreed drawdown conditions.
· The prepayment facility has been agreed in parallel with a life of mine 100% concentrate offtake agreement on competitive rates and terms customary for a project of this type and scale.
Colin Bird, Executive Chairman of Bezant, commented "We are pleased to have agreed terms, subject to standard due diligence and final closing conditions terms, both a concentrate offtake and structured prepayment facility with a globally recognised commodities trader. The framework ideally suits our project development schedule and, is an important part of our financing arrangements for the advancement of the Hope and Gorob Project including the downpayment to the Vendor of the NLZM Processing Plant, payment of deposits to suppliers of key components of both the NLZM plant upgrade and the construction of the mine site crushing and ore sorting facility.".
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).
For further information, please contact:
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Bezant Resources Plc Executive Chairman |
+27 726 118 724
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Beaumont Cornish (Nominated Adviser)
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Shard Capital Partners LLP (Joint Broker) Damon Heath |
+44 (0) 20 7186 9952
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Novum Securities Limited (Joint Broker) Jon Belliss
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+44 (0) 20 7399 9400
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or visit http://www.bezantresources.com
Forward-looking statements
This announcement contains forward-looking statements relating to the prepayment facility, offtake agreement and the development of the Hope & Gorob Project. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those expressed or implied. These statements are based on current expectations and assumptions and speak only as of the date of this announcement. The Company undertakes no obligation to update or revise any forward‑looking statements, except as required by applicable law or regulation.
Disclaimer
Beaumont Cornish Limited ("Beaumont Cornish"), which is authorised and regulated in the United Kingdom by the FCA, is acting as Nominated Adviser ("Nomad") to the Company in connection with the matters contained in this announcement, and will not be acting for any other person or otherwise be responsible to any person for providing the protections afforded to clients of Beaumont Cornish or for advising any other person in respect of the matters set out in this announcement or any transaction, matter or arrangement referred to in this announcement. Beaumont Cornish's responsibilities as the Company's Nomad are owed solely to London Stock Exchange and are not owed to the Company or to any Director or to any other person in respect of his or her decision to acquire any shares in the Company. Furthermore, Beaumont Cornish has not approved or authorised the release of this announcement in whole or in part, directly or indirectly into The United States, Canada, Australia, Japan or The Republic of South Africa or any other jurisdiction in which such release, publication or distribution would be unlawful.
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