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MZI Resources Substantial Shareholder Resource Capital Fund Buys More Shares

MZI Resources (ASX: MZI) has received official notice from substantial shareholder Resource Capital Fund that it has increased its holding in the company to 14.9% from 11.97%.

RCF had acquired in November 2013, 137,416,308 shares for a total consideration of $1,786,412 through a placement of shares, bringing its total shareholding up to 368,897,790 shares.

The company had this month signed a key sales agreement with China's Tricoastal for all zircon concentrate to be produced from its Keysbrook mineral sands project in Western Australia, bringing to 60% its production covered by sales contracts.

Tricoastal - part of China's largest mineral sands processor Hainan Wensheng High-Tech Materials Co. Ltd. - will buy all the zircon concentrate produced at Keysbrook for five years, with an option to extend the sales agreement for a further five years.

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