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MZI Resources To Reveal Capital Raising Details

MZI Resources (ASX: MZI) will soon update the market on a proposed capital raising and has being granted an ASX trading halt.

The halt will remain in place until the earlier of an announcement being made or the start of trade on Tuesday, 5 November 2013.

The company had earlier this month appointed GR Engineering Services(ASX: GNG) as its preferred engineering, procurement and construction contractor for the Keysbrook mineral sands project in Western Australia.

It is also engaged in debt financing talks with several leading mining finance banks while Nedbank Capital has received credit approval for a 50% share of the project debt finance facilities and has expressed its support for the project.

MZI has already secured a US$41.5 million (A$44.2 million) equity funding package from highly regarded resources private equity fund Resource Capital Fund at the beginning of this month.

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