From the Annual Report the 5,000,000 escrowed shares are owned by Circe Point Investments Pty Ltd and part of the 67 mil SOI. From my understanding this is Evan Cranston (Benz and Patriot Battery Metals) who was the vendor of the Northern Lights assets.
According to MRZ AGM presentation pg 19, MRZ has chosen to pursue the renamed Eastmain Leran project (formerly the Focus Graphite project) by executing the next milestone payment. From my recollection this is CAD $500,000 and potentially be split CAD $350,000 cash and CAD $150,000 of shares (AUD $165,000) , meaning approx 870,000 shares @ .19c could be issued in the next week. Last year MRZ issued CAD $150,000 in shares to Focus Graphite, which in turn found their way to clients of Peloton Capital. All a bit of a balancing act by the Board I guess given the current low share price.
For those interested, Peter Ruse gave a 17 minute update on Thursday which can be accessed via the MRZ Twitter page by clicking the broker briefing link. Presentation starts @ 19.20 min.
MRZ Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
