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

MZI Resources In Fund Raising Initiative

MZI Resources (ASX: MZI) will soon update the market on a proposed capital raising and has placed its shares into an ASX trading halt.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Tuesday 2nd July 2013.

MZI had mid this month 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.

The Keysbrook Project will produce an average 91,000 tonnes per annum of mineral sands products, comprising:

- 26,000 tonnes per annum (dry) of leucoxene 70% titanium dioxide;
- 36,200 tpa (dry) of leucoxene 88% titanium dioxide (L88); and
- 28,700 tpa (dry) of zircon concentrate.

Heavy mineral concentrate will be trucked about 120 kilometres to the mineral separation plant owned by Doral under a mineral sands toll treatment deal.

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.