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Beacon Hill Resources, Bezant Resources news briefs

Contributed by Fox-Davies Capital

Beacon Hill Resources has appointed a new COO and Operations Manager Rail.

In this news:
- John Daly has joined the Company as Chief Operating Officer. Most recently Director of Mining and Technical Services at AMCI Africa for their Mozambican and South African operations
- Mac Van Der Merwe has joined the Company as Operations Manager Rail. Most recently he was consultant in Rail and Port at BHP Billiton
- Both will report to Rowan Karstel, Chief Executive Officer and are effective 1st March 2013.

FD Comment:
With the rail allocation now granted and Minas Moatize ramping up production these are key appointments for the Company, especially for the rail operations.

Bezant Resources is planning a return of capital of approximated £5.8M.

In this news:
- Proposed capital return of approximately £5.2M (8p per Share) to Shareholders, other than Gold Fields, subject to the receipt of Shareholder approval at General Meeting on 9th April
- The proposals are also subject to the approval of the High Court and comprise:
- The cancellation of all of the Company's Deferred Shares (created as a result of historic share capital reorganisations in 2001 and 2003);
- The cancellation of part of the Company's Share Premium Account; and
- The return of approximately £5.2M to Shareholders, other than Gold Fields, utilising the sums arising from the Capital Reduction
- Shareholders will retain their proportionate equity interests in the Company following implementation of the proposals
- Bezant will remain well funded to pursue its current work programme on its Eureka copper-gold exploration project in Argentina following completion of the proposed return of capital.

FD Comment:
The Company announced its intention to return cash to shareholders on 10 December 2012, using both the Goldfield's non-refundable Option Extension Fee and the Subscription.