The last ann shows that MZI are doing all it can and by the sounds of it aligning all that is required. At times there is a need to go quiet for commercial or legal reasons. I believe the process is in hand and that we will see positive results shortly. This release would not have been made had this not been the case.
you management bashers are too impatient.
read the ann below again. i have pasted here because some are too lazy to do the work themselves.
Keysbrook Funding Update MZI Resources Ltd (MZI) advises that it has made significant progress towards completion of the debt funding arrangements for its Keysbrook mineral sands project in WA, ensuring the Company remains on track to secure creditapproved offers from its two mandated Joint Lead Arranging (JLA) banks. In particular, MZI is progressing the negotiation of Keysbrook offtake contracts and proposed construction arrangements to meet the JLA’s requests for additional information on these and other commercial arrangements. The Company remains confident that it will complete these matters to the satisfaction of the JLAs and receive binding offers of debt finance. MZI also advises that the slow-down in construction activity in WA’s resources sector over the past six months has given it an excellent opportunity to achieve more favourable terms for Keysbrook. This includes the strong possibility of striking a fixed-price, lump-sum turn-key contract for the development of Keysbrook. Such a contract would provide greater certainty in respect to development costs and schedules and more desirable security arrangements. The mining services industry has also experienced a slow-down in activity which provides MZI with the opportunity to seek favourable proposals from selected mining contractors for Keysbrook. The Keysbrook Feasibility Study was based on an owner-operator mining strategy assumption. MZI now believes that the current market conditions provide an excellent opportunity to reduce forecast operating costs and it will therefore conduct a formal tender process in respect to an alternative Keysbrook contract mining strategy. In addition, the Company continues to progress the finalisation of a Port Services Agreement with the Bunbury Port Authority and other project related commercial contracts.
MZI Price at posting:
1.6¢ Sentiment: Buy Disclosure: Held
