LONDON (ShareCast) - Copper-gold explorer Bezant Resources has unveiled lower costs for a project in the Philippines, boosting its shares.
Bezant said a financial and technical review had shown that it could reduce costs at its Mankayan scheme by $307m, compared to a study completed in 2011.

The report also showed that expected production could be increased by changes to the design of the mine.

Chief executive Bernard Olivier said: "The generation of these revised cost estimates and updated financial model in respect of the 2011 scoping study will facilitate our ongoing potential sale/JV discussions with third parties interested in progressing our Mankayan project.

"The independent review reports have identified significant cost savings and improved economics for what was already a highly robust copper-gold project."

Shares rose 2.5p or 60.6% to 6.62p at 15:30 in London.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE