28th Sep 2018 12:48
LONDON (Alliance News) - Bezant Resources PLC on Friday reported a slightly narrowed interim loss as it focuses on its Mankayan and Eureka copper-gold assets.
The company posted a pretax loss of GBP483,000 for the six months to June 30, trimmed from a GBP520,000 loss a year prior. Bezant did not generate revenue in either period.
During the half, the company disposed of its Choco platinum-gold project, Colombia, for USD500,000. Bezant is now focused on its Mankayan and Eureka copper-gold assets, located respectively in the Philippines and Argentina.
"During the reporting period, we have undertaken a significant strategic review and restructuring programme, resulting in the Company now having a clear focus on generating value from its copper-gold asset portfolio," said Chief Executive Laurence Read.
Read continued: "Our Colombian alluvial gold-platinum operations were successfully sold to a private acquirer and an intense phase of work has now commenced, as we work through the considerable information held on our Mankayan and Eureka projects."
Shares in the company were up 5.4% at 0.39 pence on Friday.
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