19/12/2007
Gold and copper prospector Bezant Resources says that drilling at Mankyan in the Philippines shows encouraging grades.
AIM-quoted Bezant, which lost £686,000 in the year to June but retained £1.6 million cash at its financial year-end, says preliminary assay results for the first diamond drill hole at Mankyan show an average grade of 0.52 per cent of copper equivalent over 630 metres, including 0.316 grammes of gold per tonne of ore and 0.855 grammes a tonne of silver. The company is investigating further expansions of the prospect.
Recommended by Growth Company Investor in June as a punt at 84p, Bezant shares have now reached 105p, valuing the company at £39 million. They should outperform several sector peers.
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