"Executive chairman Gerry Nealon says Bezant's flagship Mankayan project in the Philippines has the potential to become a world class mine."

Bezant is a global AIM-listed company specialising in natural resource exploration and development. It is backed by an experienced team of geologists, metallurgists, engineers, chemists and commercial specialists.

Bezants principal focus since it began operation in 2007 has been on early-stage ventures in key commodity sectors. Currently, it has interests in two global assets: The Mankayan Project (a copper/gold porphyry project in the Philippines) and the gold enterprise Mkurumu Project in Tanzania. Bezant Resources has a 40% stake in the Mankayan copper-gold project on the Philippine island of Luzon and an option to acquire the remaining 60% for US$40,000. In Tanzania, it has a 46% stake in a joint venture with AngloGold Ashanti, and other exploration tenements.

It also recently announced the acquisition of highly prospective copper and gold exploration licences in the Jujuy Province of northwest Argentina (the Eureka Project).

Bezant Resources has revealed a maiden 189 million tonnes JORC ore reserve for the Mankayan copper/gold project in the Philippines.
The ore reserve and Mmneable inventory statements - prepared by Mining Plus Pty - reveal:
* Probable ore reserves of 189 million tonnes at 0.46% copper and 0.49g/t gold
* Total recoverable metal reserves of 811,000 tonnes of copper and 2,210,000 ounces of gold
* Mineable inventory increased to 389 million tonnes at 0.38% copper and 0.42g/t gold
* Total mineable inventory of 1.4 million tonnes of copper and 3.9 million ounces of gold

From the Gold Fields Intergrated Annual Review issued 30 March 2012:

http://www.goldfields.co.za/reports/ar_dec_2011/pdf/integrated_ann_rev_2011.pdf

Pg112
“In September 2011, Gold Fields signed an option agreement with Bezant Resources Plc to acquire 100% of the Mankayan coppergold project located on the island of Luzon. The Mankayan project is immediately adjacent to the Far Southeast project (p116-118) and contains a significant buried goldcopper porphyry deposit located at Guinaoang, about 4km east of the Far Southeast deposit. Diamond drilling is planned at Mankayan in 2012.”

Pg116
“The Far Southeast gold-copper project in the Philippines continues to represent one of our best greenfields growth opportunities. Far Southeast is located in an existing mining camp operated by Lepanto Consolidated Mining Company in northern Luzon. As a result, the project has good access to established infrastructure, including roads, tailings facilities, power and water. Following positive ongoing drilling results we made a third downpayment of US$110 million in March 2012 under our option agreement with Lepanto and Liberty Express Assets to acquire a 60% interest in the deposit. Gold Fields now owns 40% of Far Southeast and should we decide to proceed with the acquisition of the remaining 20% interest, the final payment of US$110 million is expected to be paid during the second half of 2012. The total acquisition price for this 60% interest is US$340 million.
The deep nature of the deposit – beginning at 900 meters below surface – means it will require underground shafts, a refrigeration plant, ventilation and other related infrastructure. In this context, Gold Fields is particularly well placed to leverage its extensive deep-underground mining experience in South Africa….
…Far Southeast is evaluating bulk underground mining of between 4 million and 25 million tonnes per year – depending on the development of a plan that is socially, environmentally and economically responsible. The mine is expected to utilise twin declines and twin shafts, as well as a conventional copper floatation process plant. In terms of infrastructure, Far Southeast is evaluating a pipeline to take the copper concentrate to the coast – as well as other transport alternatives.”

After a capital repayment of 8p per share Bezant has sunk to about 20p.Goldfields,Netherlands have the option to purchase the Phillipine assets for about £40m or the equivalent of some 60p per share. They are already a large shareholder of Bezant so what is stopping them from buying up the company with an offer of ,say,30p per share?Anyone got any ideas why the price is so low?

These are on the move up.Any one got reliable news?