Bezant Resources has increased its ownership of the Hope & Gorob copper-gold project in Namibia to 90% after acquiring an additional 20% stake for £1.11 million (about N$26.6 million), consolidating control over one of its flagship assets as it moves toward production.
The Aim-listed exploration and resource development company announced on 24 March 2026 that it had purchased the additional interest from its Namibian partner, MKH Tangible Investments, raising its shareholding in Hope and Gorob Mining from 70% to 90%.
The transaction will be settled through a combination of equity and cash, reflecting both immediate funding constraints and the partners’ long-term alignment.
Bezant will issue 515.3 million new ordinary shares valued at £557,000 (≈N$13.3 million), priced at 0.10810 pence per share, while the remaining £577,000 (≈N$13.8 million) will be paid in staged cash instalments.
The company said £150,000 (≈N$3.6 million) is due by 31 March 2026, with a further £396,000 (≈N$9.5 million) payable by 15 May 2026.
The acquisition stems from an original 2018 agreement governing the project, which had already contemplated the transfer of an additional 20% stake under certain conditions.
The current transaction also settles any outstanding obligations linked to that earlier arrangement.
MKH will retain a 10% interest in the project, with its chairperson, Tango Kandjaba, and the Namibian project partner continuing to serve as directors of Hope & Gorob.
“I am pleased we have agreed to acquire the further 20% in our main Hope & Gorob project which demonstrates the Company’s confidence in the Hope & Gorob Project,” Bezant executive chairperson Colin Bird said.
“Our partner MKH has been very supportive throughout the process, and we look forward to a continuing relationship as Hope & Gorob moves as planned into production,” he added.
Kandjaba said the partnership had progressed through exploration and pre-production stages and was now approaching a critical transition point.
“I am looking forward to the start-up of operations and concentrate production. I am particularly pleased to be part of a project that is contributing to the creation of jobs, generation of revenue for the country whilst also improving the welfare of the local community,” he said.
The Hope & Gorob project, located in central Namibia within the country’s established Damara copper belt, has long been recognised as a historical copper-gold deposit.
Bezant has, in recent years, repositioned the asset as a near-term development opportunity, supported by prior exploration, feasibility work, and existing infrastructure in the region.
By increasing its stake, Bezant gains greater operational and strategic control over project development decisions, financing structures and the production pathway.
The move also signals a shift from shared ownership toward majority-led development, a model often preferred by junior miners seeking to fast-track project execution.
The issuance of more than half a billion shares as part of the transaction reflects the company’s continued reliance on equity to fund asset consolidation, a common feature among smaller exploration firms.
The staged cash payments point to a managed liquidity approach as the company advances the project.
