Hi guys,
Some good news, just talked with management and they confirmed indeed my correct understanding that they have received the 4th of september the amount of 9.5 Million$ of cash as a R&D grant from the governement as a compensation/subsidy/reimbursement of their expenditures developing the keysbrook innovative mining project (first project in the world dedicated to the extraction of leucoxene) during the 2015-2016 period.
They also confirmed that in terms of cash/working capital they are more solvent than ever, and there is no issue for them paying back in tranches the RMB bank loan. They affirmed having excellent relationship with RMB and that they delayed the structural refinancing of debt to H1 2019 instead of H2 2018 in order to allow enough time demonstrating to potential financiers the positive progress achieved thus far with the project and the complete turn-around of the business to cash flow positive operations. It seems RMB bank in south africa are focusing now on their operations within the african continent and withdrawing from the australian market. MZI is therefore looking for new financiers to convert the loan from RMB to another bank/financier. Showing the potential financiers good quarterly financial reports over the coming quarters is key to the success of this operation and to getting a good deal from financiers.
Management also seemed extremely positive about the september quarter and are looking to inform the market soon via an operational update.
This is it guys ! IMO management did it this september quarter and most likely these are the last moments to get in at these cheap prices, IMO the much awaited re-rate is coming sooner than later ! Good luck to all ! and happy multi-bagger investing to everyone !
MZI Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
