Bezant Resources (LON:BZT) has taken ownership of a string of alluvial platinum licences in Colombia after completing the acquisition of Leeward Islands Exploration.
Bezant paid US$1mln cash and 37.3mln in new shares for Leeward, which has options over 2,750ha of near-surface licences in the Choco district.
It wants to establish a low cost, recoverable platinum district outside of South Africa.
“While platinum prices are currently depressed, significant pressure on major platinum sources and depleting stock-piles should enable Bezant to realise potentially significant margins from the successful future development.”
Shares rose 6% to 1.98p.