Renewal of MPSA exploration period for Mankayan
29 May 2018
Bezant Resources Plc
("Bezant" or the "Company")
Renewal of MPSA exploration period for Mankayan Project, Philippines
Bezant (AIM: BZT), the copper-gold exploration and development company, is pleased to announce that the Mineral Production Sharing Agreement ("MPSA") No. 057-96-CAR, held by its associate, Crescent Mining and Development Corporation ("CMDC"), which governs the 534 hectare contract area comprising the Company's Mankayan Project, Benguet Province, Philippines, has been renewed for a standard period expiring in April 2020.
The Philippines Department of Environment and Natural Resources Administration has granted the renewal subject to customary conditions for inclusive stakeholder engagement and certain work programme commitments.
Laurence Read, CEO of Bezant, today commented:
"It is a testament to the quality and diligence of our Philippines team that the exploration period for our Mankayan Project's MPSA has been renewed. The core of the Philippine Government's strategy is that 'Mining shall be pro-people and pro-environment in sustaining wealth creation and improved quality of life'. Over the course of the next two years, stakeholder engagement for the progression of our Mankayan asset will be at the core of our work on this project. I look forward to the roll out in due course of our technical and community programmes which are aimed at adding value to a project which we already deem to be world class, but which has substantial potential for enhancement."
Colin Bird, Executive Chairman of Bezant, today commented:
"This represents very good news for the Company and its Mankayan Project in that we now have some certainty and time in which to complete our project evaluation and planned enhancement work. The Mankayan copper-gold project is very well positioned in the global league table of potential future mining developement projects and we are confident that we can add value through further work to enhance the existing resource and metal grades. We now intend to progress our work programme preparations and assess all aspects of the project in the short-term, whilst seeking to familiarise the wider marketplace and trade with the exceptional characteristics that the Mankayan Project possesses."
For further information, please contact:
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Bezant Resources Plc Laurence Read Chief Executive Officer Colin Bird Executive Chairman
Strand Hanson Limited (Nomad) James Harris / Matthew Chandler / James Dance
Novum Securities Limited (Broker) Jon Belliss
or visit http://www.bezantresources.com
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Tel: +44 (0)20 3289 9923
Tel: +44 (0)20 7409 3494
Tel: +44 (0)20 7399 9400
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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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