Bezant Resources (BZT) AI Stock Analysis

• Market Cap: £17.24M
• Dividend Yield: N/A
• Average Volume (3M): 50.34M
• Price to Earnings (P/E): 4.8
• Beta (1Y): 1.38
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: UK
• Employees: 5
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): N/A
• Shares Outstanding: 18,142,154,000
• 10 Day Avg. Volume: 49,062,910
• 30 Day Avg. Volume: 50,336,225
• PEG Ratio: 0.03
• Price to Book (P/B): 0.49
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -4.52
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 56 Neutral
• Price Target: 0.10p ▲(22.50% Upside)

The score is held back primarily by very weak financial performance (no revenue, ongoing losses, and persistent cash burn), despite a relatively low-leverage balance sheet. Technical signals are meaningfully positive and support the score, while valuation appears inexpensive on P/E but is tempered by the company’s weak operating/cash profile.

Positive Factors

Low leverage / balance sheet flexibility

Modest leverage gives durable financial flexibility for an exploration company: lower interest burden and more optionality to fund drilling, feasibility or partnerships. This reduces near-term solvency risk and preserves ability to pursue value-creating programs before large-scale financing is needed.

Asset-focused exploration business model

A focused exploration/development model with the option to partner provides structural advantages: the company can de-risk projects via JVs, limit capital intensity, and monetize discoveries at different stages. This model supports scalability and reduces sole-source capital demands over time.

Lean operating structure

A very small core team keeps fixed overhead and G&A low, extending runway for cash-burning exploration activities. Reliance on contractors allows flexible scaling of fieldwork and study costs, which is a sustainable structural feature for early-stage miners managing intermittent funding cycles.

Negative Factors

No revenue (2020–2024)

Absence of operating revenue over multiple years indicates the business remains pre-commercial and reliant on financing or asset transactions. Without revenue visibility, project economics and sustainable cash generation are uncertain, raising structural execution and funding risks over the medium term.

Persistent negative operating and free cash flow

Consistent cash burn forces dependence on external financing or asset sales to fund exploration and studies. Even with smaller burn in 2024, chronically negative FCF limits self-funding of milestones, increases dilution risk, and can delay project advancement if markets tighten.

Recurring losses and eroding equity

Ongoing losses that reduce shareholders' equity weaken the capital base and can compel dilutive financing. Negative returns undermine investor confidence and make it harder to attract favourable JV partners or project financing, creating a structural constraint on advancing projects long term.

Bezant Resources Business Overview & Revenue Model

Company Description

Bezant Resources Plc engages in the exploration, evaluation, and development of mineral resources. It explores for gold, silver, cobalt, manganese, copper, and other minerals in the United Kingdom, Argentina, Namibia, Zambia, Botswana, Cyprus, and the Philippines. The company was formerly known as Tanzania Gold Plc and changed its name to Bezant Resources Plc in July 2007. Bezant Resources Plc was incorporated in 1994 and is based in London, the United Kingdom.

How the Company Makes Money

Bezant Resources Financial Statement Overview

Summary

Weak operating fundamentals: no revenue reported (2020–2024), recurring losses, and consistently negative operating and free cash flow. The balance sheet is a partial offset with modest leverage, but ongoing cash burn and declining equity point to continued funding/dilution risk.

Income Statement

The company reports no revenue across 2020–2024, indicating it is still pre-commercial or not generating operating sales. Profitability is consistently weak with recurring operating losses; while the net loss narrowed materially in 2024 versus the very large loss in 2023, results remain solidly negative and earnings quality is volatile (including a profit in 2022 that did not translate into positive operating performance). Overall, the income statement shows limited visibility to sustainable earnings until revenue generation improves.

Balance Sheet

The balance sheet is a relative strength: leverage appears modest with debt-to-equity staying low (roughly 0.06–0.12 in 2022–2024, and no debt in 2020–2021). However, equity has trended down from its 2022 level, and returns on equity are negative in most years (notably very weak in 2023), reflecting ongoing losses and potential dilution/funding risk if losses persist. Overall, the company has financial flexibility today, but profitability pressure is eroding the capital base.

Cash Flow

Cash generation is weak, with operating cash flow and free cash flow negative every year shown (2020–2024). Free cash flow improved in 2024 versus 2023 (less cash burn), but the business still consumes cash, and operating cash flow does not cover net income (coverage remains negative). Continued negative free cash flow implies reliance on external financing or asset sales to fund operations until revenue and operating performance stabilize.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	0.00	0.00	0.00	0.00	0.00	0.00
EBITDA	-855.50K	-935.00K	-5.82M	1.44M	-1.26M	-1.04M
Net Income	2.99M	-1.01M	-6.11M	1.44M	-1.27M	-977.00K
Balance Sheet
Total Assets	10.84M	6.33M	6.83M	10.79M	8.52M	7.56M
Cash, Cash Equivalents and Short-Term Investments	113.00K	88.00K	560.00K	57.00K	728.00K	1.13M
Total Debt	552.00K	616.00K	526.00K	623.00K	0.00	0.00
Total Liabilities	907.00K	1.23M	858.00K	1.09M	531.00K	553.00K
Stockholders Equity	9.94M	5.10M	5.97M	9.71M	8.00M	7.02M
Cash Flow
Free Cash Flow	-653.00K	-555.00K	-973.00K	-1.34M	-1.64M	-900.00K
Operating Cash Flow	-653.00K	-555.00K	-612.00K	-368.00K	-837.00K	-629.00K
Investing Cash Flow	-588.00K	-372.00K	-361.00K	-1.05M	-801.00K	-259.00K
Financing Cash Flow	1.20M	455.00K	1.29M	743.00K	1.24M	1.64M

Bezant Resources Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
POW	58 Neutral	£18.19M	―	―	―	―	―
BZT	56 Neutral	£17.24M	4.75	45.94%	―	―	―
KDNC	53 Neutral	£14.94M	-6.34	-9.95%	―	―	―
GLR	48 Neutral	£12.44M	-7.73	13.10%	―	―	―
RMR	44 Neutral	£17.84M	-3.50	-61.42%	―	―	―
LND	41 Neutral	£10.21M	-3.56	-218.13%	―	―	―

Bezant Resources Corporate Events

Bezant Resources Expands Share Capital After Warrant Exercise

Bezant Resources has issued 285,500,000 new ordinary shares following the exercise of warrants linked to previous fundraisings, with 275,500,000 shares issued at 0.06p and 10,000,000 shares at 0.04p. The new shares, which will rank pari passu with existing stock, are expected to be admitted to trading on AIM around 29 January 2026, increasing the company’s issued share capital to 18,142,154,126 ordinary shares with voting rights and setting a new denominator for shareholders’ disclosure obligations under UK transparency rules.

The most recent analyst rating on (GB:BZT) stock is a Hold with a £0.11 price target. To see the full list of analyst forecasts on Bezant Resources stock, see the GB:BZT Stock Forecast page.

Bezant Resources Issues 80 Million Shares on Warrant Exercise, Lifting AIM Free Float

Bezant Resources has issued 80 million new ordinary shares following the exercise of warrants priced at 0.06p each, stemming from a fundraising completed in December 2023, with the new shares ranking pari passu with the existing equity. The company will seek admission of these warrant exercise shares to trading on AIM around 20 January 2026, after which its total issued share capital will rise to 17,856,654,126 ordinary shares with voting rights, a new denominator for shareholders assessing disclosure thresholds under UK transparency rules.

The most recent analyst rating on (GB:BZT) stock is a Hold with a £0.12 price target. To see the full list of analyst forecasts on Bezant Resources stock, see the GB:BZT Stock Forecast page.

Bezant Resources Expands Share Capital After Warrant Exercise

Bezant Resources has issued 350 million new ordinary shares following the exercise of warrants priced at 0.06p per share, stemming from a fundraising completed in December 2023. These warrant exercise shares will be admitted to trading on AIM around 14 January 2026, increasing the company’s total issued share capital to 17,776,654,126 ordinary shares with voting rights, a change that alters the capital base and provides a new reference point for investors’ disclosure and transparency obligations under UK market rules.

The most recent analyst rating on (GB:BZT) stock is a Hold with a £0.11 price target. To see the full list of analyst forecasts on Bezant Resources stock, see the GB:BZT Stock Forecast page.

Bezant Chairman’s Associate Increases Stake with 20.2 Million-Share Purchase

Bezant Resources has disclosed that Sylvia Vrska, the wife of Executive Chairman Colin Bird and therefore a person closely associated with him, purchased a total of 20.2 million Bezant ordinary shares in two on-market transactions on 24 and 29 December 2025 at prices of 0.075 pence and 0.0885 pence per share, respectively. Following these purchases, Bird and his closely associated person now hold an aggregate interest of 1,083,200,654 shares, representing 6.22% of the company’s issued share capital, a move that may be interpreted by investors as a vote of confidence from senior leadership and is disclosed under UK Market Abuse Regulation requirements.

Bezant Chairman Colin Bird Increases Stake with 30 Million-Share Purchase

Bezant Resources has disclosed that its executive chairman, Colin Bird, purchased 30 million additional ordinary shares in the company at an average price of 0.0745 pence per share, increasing his holding to 1.063 billion shares, or 6.10% of the company’s issued share capital. The insider purchase, made in compliance with UK Market Abuse Regulations, signals heightened executive confidence in the company’s prospects and will be closely watched by investors as a potential indicator of management’s outlook on Bezant’s future performance and valuation.

Bezant Resources Completes Acquisition of NLZM Processing Plant

Bezant Resources PLC has completed the acquisition of a 90% shareholding in Namib Lead and Zinc Mining (Proprietary) Limited, which owns the NLZM Processing Plant. This acquisition is a crucial step in the development of the Hope & Gorob gold project, allowing the company to progress with on-ground activities and construction preparations at the start of the new year, enhancing its operational capabilities and market positioning.

Bezant Resources Secures Shareholder Approval for Strategic Acquisition

Bezant Resources PLC announced that its shareholders have approved the acquisition of a 90% shareholding in Namib Lead and Zinc Mining, which owns the NLZM Processing Plant. This approval marks a significant step in completing the acquisition, which is expected to enhance Bezant’s operational capabilities and strategic positioning in the mining sector.

Bezant Resources Issues New Shares Following Warrant Exercise

Bezant Resources PLC has announced the issuance of 100,000,000 new ordinary shares following the exercise of warrants at a price of 0.06p per share. These shares will be admitted to trading on AIM, with the total issued share capital now consisting of 17,426,654,126 ordinary shares. This move is expected to impact shareholder voting rights and transparency requirements under the Financial Conduct Authority’s rules.

Bezant Resources Issues 350 Million New Shares Following Warrant Exercise

Bezant Resources Plc has announced the issuance of 350 million new ordinary shares following the exercise of warrants at prices of 0.06p and 0.04p per share, respectively. These shares will be admitted to trading on AIM, increasing the company’s total issued share capital to over 17.3 billion shares, which will impact shareholder voting rights and transparency notifications under FCA rules.

Bezant Resources to Present Hope and Gorob Project Developments at General Meeting

Bezant Resources Plc announced that following their upcoming general meeting, they will present developments related to their Hope and Gorob Project. This meeting serves as a platform for directors to engage with shareholders, potentially impacting the company’s operations and stakeholder relations.

Bezant Resources Proposes Strategic Acquisition to Advance Hope and Gorob Project

Bezant Resources PLC has announced a proposed acquisition of a 90% shareholding in Namib Lead and Zinc Mining (Proprietary) Limited, which owns the NLZM Processing Plant. This acquisition is crucial for the development of the Hope and Gorob Project in Namibia, as it offers significant benefits such as reduced capital costs, accelerated production timelines, and enhanced profitability. The acquisition is subject to shareholder approval, and its success is vital for the project’s financing and operational strategy. If the resolution is not passed, it could impact the company’s ability to proceed with the project as planned, potentially affecting the mining license and financial agreements.

Bezant Resources Issues New Shares Following Warrant Exercise

Bezant Resources PLC has announced the issuance of 80 million new ordinary shares following the exercise of warrants at a price of 0.06p per share. These shares will be admitted to trading on AIM, with the company’s total issued share capital now consisting of over 16.9 billion shares. This move is part of a fundraising effort and impacts the company’s total voting rights, which shareholders can use to determine their interest in the company under the Financial Conduct Authority’s rules.

Bezant Resources Issues New Shares Following Warrant Exercise

Bezant Resources Plc has announced the issuance of 75,000,000 new ordinary shares following the exercise of warrants priced at 0.04p per share, as part of a fundraising initiative. These shares will be admitted to trading on AIM, increasing the company’s total issued share capital to 16,896,654,126 shares with voting rights, which stakeholders can use to assess their interests under the Financial Conduct Authority’s rules.