Bezant granted formal mining licence for Hope and Gorob

(Sharecast News) - Bezant Resources announced on Wednesday that it has been granted the formal mining licence for its Hope and Gorob copper-gold project in Namibia. The AIM-traded firm said the licence, ML 246, was issued by the country's Ministry of Mines and Energy and would be valid until 31 March 2040.

It said the project was operated by Hope and Gorob Mining Pty Ltd, which is 70% owned by Bezant.

The award followed the company's receipt of an environmental clearance certificate in April, and marked a significant milestone in progressing the project towards development.

"We would like to thank the Ministry of Mines and Energy for their confidence in awarding the Hope and Gorob mining licence," said executive chairman Colin Bird.

"Pending the formal issue of the mining licence we have in the background been working on the numerous workstreams and activities required to build and commission the Hope and Gorob mine.

"Our actions now are totally implementation based and we will advise shareholders on the framework of the project and key operating parameters together with approximate timelines."

Bezant said it would provide further updates on project plans, operating parameters and development timelines in due course.

At 1141 BST, shares in Bezant Resources were up 12.88% at 0.03p.

Reporting by Josh White for Sharecast.com.