Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

MZI Resources Receives Substantial Shareholder Notice From Resource Capital Fund

MZI Resources (ASX: MZI) has received a substantial holder notice from highly regarded resources private equity fund Resource Capital Fund, following the fund becoming a cornerstone investor with a $3 million share placement for a 12% stake earlier in the month.

Resource Capital Funds is a private equity group which invests exclusively in the resources industry. It currently manages US$3.4 billion of assets.

At the time of the investment MZI said that it is in discussions with the fund concerning a larger funding package that will help underpin development of MZI's flagship Keysbrook mineral sands project in Western Australia.

Keysbrook Mineral Sands Project

MZI has been progressing development of the Keysbrook project in recent months, and in mid-June executed the key Port Services Agreement with the Bunbury Port Authority in Western Australia that provides sufficient capacity to export all products that will be produced from its Keysbrook mineral sands project.

It had in April signed a crucial sales agreement with DuPont Titanium Technologies that covered all of the leucoxene 70% titanium dioxide production and had also reached a mineral sands toll treatment deal with Doral.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.