Bezant Resources Fiscal 2011 Loss Narrows By 4% To GBP1.55 Million

Bezant Resources PLC (BZT.LN), the AIM listed gold and copper exploration and development company, Monday said pretax loss for fiscal 2011 narrowed by 4% to GBP1.55 million, and added that it agreed to an option for the potential future sale of the Mankayan Project in Philippines to Gold Fields during fiscal 2011.

MAIN FACTS:

-Group revenue for the year ended June 30 nil (2010: nil).

-Administrative expenses GBP1.6 million (2010: GBP1.4 million).

-Pretax loss GBP1.55 million (2010: loss GBP1.61 million).

-Diluted loss per share 2.88 pence (2010: loss 3.74 pence).

-Cash at bank and in hand GBP4.4 million (2010: GBP1.9 million).

-Shares on at 0804 GMT flat at 26.1 pence.

-By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448, tapan.panchal@dowjones.com

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