Bezant Resources (LSE:BZT) has agreed an accelerated payment arrangement with CL US Minerals for the NLZM Processing Plant, strengthening its control over a key asset supporting development of the Hope & Gorob copper project.
The processing facility is currently being upgraded and repurposed to handle copper preconcentrate from Hope & Gorob, with first concentrate production remaining targeted for September 2026. Bringing forward full ownership of the plant gives Bezant greater flexibility to pursue additional productivity improvements as it moves towards long-term production.
Under the revised agreement, Bezant will pay US$5 million by 31 October 2026, resulting in the release of the vendor’s security over the plant. A further US$4.98 million of deferred consideration will then be paid through discounted quarterly instalments between 2029 and 2031.
CL US Minerals also retains the option to convert up to £2 million of the deferred consideration into Bezant shares. This provision could reduce future cash requirements while potentially aligning the vendor’s interests with Bezant as development and production at Hope & Gorob progress.
The company is also considering potential third-party co-investment, which could provide additional financing flexibility and simplify the funding structure associated with the remaining deferred payments.
Securing greater control of the NLZM Processing Plant represents another step in Bezant’s strategy to establish a long-term copper operation at Hope & Gorob. The initial Hope open pit has an estimated 35-year life-of-mine, providing the company with a substantial production horizon alongside further opportunities to optimise the processing operation and advance exploration across the wider project area.
More about Bezant Resources
Bezant Resources Plc is a resources company focused on advancing the Hope & Gorob copper project, including the development of sulphide and oxide production.
The company’s NLZM Processing Plant, held through Tsaoxaub Metals, is being upgraded to support copper concentrate production from the project. Bezant is targeting a long-life copper operation, underpinned by the estimated 35-year life-of-mine at the initial Hope open pit and additional exploration potential across its licensed areas.
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