Bezant Resources is seeking shareholder approval to acquire a 90% stake in Namib Lead and Zinc Mining (NLZM), the owner of the NLZM Processing Plant.
The company said the acquisition is essential to its development plan for the Hope and Gorob copper-gold project, as Bezant intends to use the NLZM facility, located about 190 kilometres from the mine, to process pre-concentrate from the site. The plant previously processed lead and zinc until NLZM ceased operations in 2020.
“The purpose of the General Meeting is to obtain shareholders approval to the Proposed Acquisition,” the company said in its circular.
Executive Chairman Colin Bird stated in the same circular that the Board considers the resolutions to be in the best interests of the company and its shareholders.
He said directors collectively hold approximately 1.5 billion shares representing 8.81% of Bezant and will vote in favour, recommending shareholders do the same.
Bezant warned that failure to approve the transaction would prevent it from progressing with the Hope and Gorob development strategy as outlined in its approved mining licence application.
It added that rejection of the acquisition would also breach conditions tied to financing and offtake agreements.
“If the Resolution is not approved then the Company will not acquire the NLZM Processing Plant and will not be able to implement the development of the Hope and Gorob Project in the manner outlined in its application for the Mining Licence approved by the Ministry,” the circular said.
It further stated that this “will breach a condition precedent of the Financing and Offtake Agreements which is an important component of the financing of the Hope and Gorob Project.”
Bezant is a natural resources exploration and development company focused on copper, with copper projects in Namibia and the Philippines, and a manganese project in Botswana.
The Hope and Gorob copper-gold project, situated along the Matchless Belt in central Namibia, includes Mining Licence ML246 and three adjoining exploration licences — EPL 5796, EPL 6605 and EPL 7170.
These licences add over 150 kilometres of prospective ground beyond the main mining area. More than 69,000 metres of drilling have been completed to date.
The project secured its Environmental Clearance Certificate (ECC 2502358) on 1 April 2025 from the Ministry of Environment, Forestry and Tourism following approval of its Environmental Management Plan and related assessments.
