News: MZI Resources substantial shareholder Resource Capital Fund increases stake

MZI Resources’ (ASX:MZI) cornerstone investor Resource Capital Fund VI has increased its shareholding to 25.32% from 19.9%.

The fund was issued 3,910,011 shares for the payment of funding package establishment fees (totalling $1,743,261) for the Convertible Loan Facility and Tranches A, B, C and D of the Bridge Finance Facility.

RCF now holds 18,265,367 shares in MZI Resources.

In November, MZI Rresources proceeded with the development of the Keysbrook Mineral Sands Project in Western Australia after executing US$110 million in finance agreements.

First production could start in the December 2015 quarter.

MZI has already secured offtake agreements for 85% of forecast production.

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.