Bezant Resources

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20252026 Yorkville loan facility Hope and Gorob copper production 2 directors buying 1 director buying 1 director buying

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Balance-sheet stress / refinancing◷ in 82 days

Yorkville loan facility

Facility agreed 22 Oct 2026 and drawn in full

On 22 October 2026 Bezant completed a £4M gross unsecured, non-convertible loan with Yorkville's YA II PN Ltd, drawn in full, as an alternative to an immediate £4M equity placing. Repayment is in ten monthly instalments of £400,000 from 15 January 2027, mainly from projected cash flow. The Lender also receives three-year warrants, and an ATM equity facility is to be put in place.

Size: £4 million gross, drawn in full; 6% upfront fee and £20,000 structuring fee deducted 23 Oct 2026 ↗
Interest: 5% p.a., unsecured, non-convertible, repayable in cash 23 Oct 2026 ↗
Repayment: Ten monthly instalments of £400,000 plus interest, 15 January 2027 to 15 October 2027 23 Oct 2026 ↗
Warrants: Three-year warrants, aggregate subscription value £3 million, at 0.16 pence per share (125% of 5-day VWAP) 23 Oct 2026 ↗
ATM facility: To be put in place with an FCA-regulated broker within 15 business days 23 Oct 2026 ↗
Use of money: General working capital, bridging timing between expenditure, concentrate shipments and sales receipts; funds Phase II and resource work 23 Oct 2026 ↗

Next: First £400,000 repayment; ATM facility to be set up within 15 business days · 15 Jan 2027

23 Oct 2026 Facility agreed 22 Oct 2026 and drawn in full

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Project milestones

Hope and Gorob copper production

Concentrate production underway, commissioning

Copper concentrate production has begun at Hope and Gorob in Namibia, with the first shipment expected in November 2026 (announced 23 Oct 2026). The Board is prioritising steady production and a regular cycle of sales receipts. It then plans a Phase II expansion for extra copper in 2027, and resource drilling to support a Phase III targeting at least 25,000 tonnes of contained copper a year.

Next milestone: First concentrate shipment expected November 2026 23 Oct 2026 ↗
Phase II: Expansion giving additional copper production during 2027 23 Oct 2026 ↗
Phase III: Resource development to underpin targeted minimum 25,000 tonnes contained copper annually 23 Oct 2026 ↗
Funding: £4M Yorkville facility supports the Phase II expansion and resource work 23 Oct 2026 ↗

Next: First copper concentrate shipment

23 Oct 2026 Concentrate production underway, commissioning

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Closed · 3

Insider conviction2 directors buying £37k in 2 buys · 24 Dec 2025 – 29 Mar 2026 +103% Insider conviction1 director buying £16k in 1 buy · 18 Mar 2025 – 16 Jun 2025 +157% Insider conviction1 director buying £34k in 2 buys · 6 Aug 2024 – 17 Nov 2024 +0%

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