Mozambi Resources (ASX:MOZ) has raised $20,000 through the...

Mozambi Resources (ASX:MOZ) has raised $20,000 through the completed issue of 20 million options to limited invitees determined by the company.

Proceeds will be used to list both the new options and the 133,499,999 existing options in the same class.

The company will now seek quotation of these options.

The options are exercisable at $0.02 expiring 31st December 2017.

Earlier this month, the company unveiled plans to carry out initial exploration work on two highly prospective graphite licences in Mozambique that it has the option to acquire.

The current owner of licences 6140L and 6142L had advised that all conditions precedent to granting of these licences have now been met.

These licences are in close proximity to existing world class graphite and vanadium deposits held by Triton Minerals (ASX:TON) and Syrah Resources (ASX:SYR).