This is as near to a "dead cert" as it gets on AIM. Subject to shareholder approval at the General Meeting which is being held today, Bezant Resources will sell one of its assets: The Mankayan Project (a copper/gold porphyry project in the Philippines) for $70 million to Gold Fields Netherlands Services BV. 50% of the proceeds of the sale will be returned to shareholders as outlined here. At the current exchange rate of $1.60 = £1.00, that works out at 33.6p per share. Current share price is 33.8p so effectively shareholders buying now will get all of their investment back plus free shares in a well funded company with 2 major projects. This is a tip not a promise and like I said, subject to shareholder approval at the meeting today.
Of course, I bought these in December for around 40p. Glad I'll be getting most of my money back. For someone buying today, it's a no-brainer.
Keep them, they pay about 5% in dividends and are undervalued at the moment due to market conditions and a general undervaluing of the pharmaceutical sector.
