LONDON (Thomson Financial) - Tanzania Gold PLC said it has signed contracts
to acquire interest in the porphyry copper and gold exploration licence in
Guinaoang, Philippines for about 5.46 mln stg, and added it plans to raise 5 mln
stg through the issue of 6.67 mln shares at 75 pence each to fund the purchase.
The mining company said it will change its name to Bezant Resources PLC on
completion of the acquisition.
The Guinaoang porphyry copper gold deposit known as the Mankayan project has
the potential to be a 'world class asset', said chief executive Clive
Sinclair-Poulton.
TFN.newsdesk@thomson.com
bsu/lce
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