Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
My blog:
  • MZI Resources Marks Significant Change In Shareholders 0 comments
    Aug 6, 2014 8:03 PM

    MZI Resources' (ASX:MZI) shareholder Stirling Resources has sold its entire shareholding of 581.8 million shares, or 20.9% of MZI shares, to a mix of institutional funds, high net worth investors and the company's management and staff.

    Stirling is a wholly-owned subsidiary of Austrian metal trading group DCM DECOmetal GmbH, which is liquidating its Australian assets.

    The significant change of shareholders comes as the company moves closer towards securing financing to commence development of its Keysbrook Mineral Sands Project.

    The Keysbrook Project, located approximately 70 kilometres south of Perth, is characterised by its high leucoxene content, and once in operation will be one of the world's largest producers of the premium Leucoxene 88 product.

    It will produce an average 91,000 tonnes per annum of mineral sands products from 110,000 tonnes of dry heavy mineral concentrate.

    This will be trucked about 120 kilometres to Doral's mineral separation plant, which is just 10 kilometres from the Bunbury Port, for toll treatment.

    Offtake agreements are already in place for 50% of the forecast annual revenue from Keysbrook and approximately 60% of forecast annual production.

    The sale should remove a significant overhang of stock, which is a positive moving forward.

    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.

Back To Proactive Investor's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.