Bezant Targets First Concentrate at Namibia’s Hope & Gorob in September

Bezant Resources said development of the Hope & Gorob copper-gold project in Namibia and the associated Tsoaxaub Metals Processing Plant remains in line with the current project schedule, with first run-of-mine ore expected to be processed during September 2026. Subject to completion of the remaining commissioning activities, processing of the first ROM ore is expected to generate the project’s first concentrate. Ore from the first two mine blasts has already been stockpiled and is ready for transport to the processing plant, while Bezant said the stockpiled tonnage exceeded initial projections due to additional ore recovery recorded in the company’s Mineral Inventory.

Development work is progressing at both the mine and processing plant. Mine-site camp construction is approximately 75% complete, around 75% of surface infrastructure has been delivered and is being installed, and the full Unitrans mining and haulage fleets are now on site. At the Tsoaxaub plant, Bezant has received the C1 Civils and Structural Completion Certificate, confirming completion of major structural steelwork and civil works, while the C2 Mechanical Completion Certificate is scheduled for completion during September. Electrical drives and instrumentation are around 90% complete, with the cone crusher, flotation equipment, tailings infrastructure and other processing components undergoing final preparation ahead of commissioning.

Bezant has also accelerated its review of a Phase II expansion plan, considering current and projected copper, gold and silver prices as well as the potential inclusion of lower-grade mineralisation that had previously been considered sub-economic. The company is evaluating a higher mass-pull operating strategy for the ore sorter that could increase copper recoveries, although potentially at a lower pre-concentrate grade. Based on the current Mineral Inventory, existing JORC (2012) Mineral Resource, planned flotation-plant capacity and the higher mass-pull scenario under consideration, management believes Hope & Gorob has the potential to support an approximately 35-year mine life. Bezant has not yet published a revised economic model incorporating this longer-life scenario.

SMM Analysis: The September processing target places Hope & Gorob close to the transition from mine development into initial concentrate production, with ROM ore already stockpiled and key processing infrastructure approaching mechanical completion. The potential 35-year mine life and Phase II expansion remain under technical and economic review and should not yet be treated as a confirmed revised development plan. In the near term, the key milestone to watch will be completion of plant commissioning and confirmation of first concentrate production during September.