News: MZI Resources chairman increases indirect interest through on-market trade

MZI Resources (ASX:MZI) chairman Malcolm Randall has increased his indirect interests, acquiring $11,294 worth of shares on-market trades.

Indirect interests of Randall acquired 40,000 shares for $0.28 each, taking his total holding up to 250,000 shares.

He also holds 125,000 options exercisable at $1.60 expiring 31 December 2015, 125,000 options exercisable at $0.80 expiring 27 Jun 2017 and 43,750 options exercisable at $0.80 that expire on 30 October 2015.

In December, MZI achieved a major milestone by starting development of its Keysbrook Mineral Sands Project located 70 kilometres south of Perth in Western Australia.

First production is expected in December 2015.

GR Engineering Services (ASX:GNG) has commenced construction activities with a contract value of $54.6 million, initially focussed on completing detailed engineering and equipment procurement.

Site works will follow in February 2015.

Transmin Engineering Pty Ltd have commenced work on the mine feed unit construction with a contract value of $4.7 million and Western Power have also commenced grid power connection works to a value of $3.9 million.

The company has also received US$37.5 million from Resource Capital Fund VI L.P. (RCF) placing the company in a strong corporate and financial position.