MZI Resources (ASX:MZI) will consolidate its shares through the...

MZI Resources (ASX:MZI) will consolidate its shares through the conversion of every forty shares into one share, which was approved at the company's Annual General Meeting yesterday.

Currently the issued capital is close to 2.9 billion shares, with the consolidation reducing the shares on issue to around 72 million.

Wednesday 26th November 2014 will be the last day for trading of shares on a pre-consolidated basis, with the following day (27th November) being the first day of trading of Shares on a post-consolidated basis, on a deferred settlement.

Shares may trade as (ASX:MZIDA).

Normal trading of the consolidated shares will begin on Tuesday 9th December, when it is expected that trading using the MZI code will resume.


MZI Resources secures sales agreement with DuPont

This week the MZI Resources signed a sales agreement with DuPont Titanium Technologies, a DuPont business, for product from its Keysbrook Mineral Sands Project in Western Australia.

MZI has executed a sales agreement with DuPont for 25,000 tonnes per annum of leucoxene 88% titanium dioxide (L88) from Keysbrook.

DuPont is the world’s largest titanium dioxide pigment producer.

The agreement is the third to be signed for the Keysbrook Project, and now around 85% of the project's annual production by volume has now been sold under long term contracts.

Production and first shipments are forecast for late 2015/early 2016.