22/07/2008
Philippines-focused Bezant Resources says its Mankyan project might hold three million lbs of copper and 3.8 million oz of gold.
The Cork-based company, headed by executive chairman Gerry Nealon, reports an inferred resource estimate from independent consultant Snowden of 277.7 million tonnes at unsensational grades of 0.5 per cent copper and 0.42 grammes of gold per tonne of ore.
Nealon says AIM-quoted Bezant will try to upgrade the Mankyan resource with more data from its 11,000-metre drilling programme and then seek to take the project to a pre-feasibility study.
The company, which underwent several transformations from shell concern Vos Net to Tanzania Gold before its present incarnation, saw its shares fall from 130p three years ago to 34.5p in 2006 before rallying to 54p now, up 2.5p this morning. The appeal is speculative.
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