Shares in the copper explorer leapt after first commercial concentrate rolled off the line at its Namibian flotation plant, well ahead of schedule.
Bezant Resources (AIM: BZT) shares jumped 18.2% to 0.1625p after the company confirmed it has begun producing commercial copper concentrate for its Hope & Gorob mine at the Tsoaxaub Metals flotation plant, with output set to be ramped up through the month.
The rally came as Bezant said this month's throughput at the plant should reach 9,000 tonnes, with construction of both the mine and the processing facility having been completed ahead of the original schedule, a milestone that appears to have reassured investors watching the project's path to first revenue.
Bezant has been building out the Hope & Gorob project in Namibia as its flagship asset, and the move into commercial production marks a significant de-risking event for a small-cap explorer that has spent years advancing permitting, construction and plant commissioning. The company said it is now planning a Phase II expansion, which would see a second processing plant added, alongside further drilling to extend the mine's resource base.
The update arrived in a session that also saw heavy newsflow across AIM, including Tribal Group (AIM: TRB), which adjourned a general meeting called to approve its sale to Main Capital Partners, citing a procedural matter. That stock slipped 1.47% to 100.5p amid reports that software firm Jenzabar had floated a higher rival offer of 111p a share, though more than half of Tribal's shares remain under irrevocable undertakings to back the original disposal.
For Bezant, the focus now shifts to sustaining and scaling throughput at Tsoaxaub as the plant beds in, with the market likely to watch closely for confirmation of maiden concentrate sales and progress on Phase II planning and drilling in the coming months.
This report is based on Bezant Resources’s announcement and coverage by UK Investor Magazine. Company announcements can be tracked via London Stock Exchange RNS and Investegate, and the full results calendar is worth watching for the next update.
This article is for general information only and does not constitute investment advice or a recommendation to buy or sell any security. Photo: Dominik Vanyi on Unsplash.
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