RCF Debt Funding

Debt funding package To support the transformation of the Keysbrook Project, MZI is pleased to advise that it is finalising the terms of a US$16 million debt funding package with Resource Capital Fund VI L.P. The funding will be supplied in two tranches, with the first, US$6 million tranche already available to MZI, and discussions well advanced on the second tranche which will deliver an additional net US$10 million. These funds will ensure MZI has the financial flexibility to deliver on the previously advised plant enhancements and optimisation activities required at the Keysbrook Project to ensure the plant achieves the targeted production rates. The Board believes the funding package is the most suitable for the Company at this time. MZI Chairman Rod Baxter said: “We appreciate RCF’s ongoing support through this debt package, which will provide MZI with the financial flexibility to continue ramping up Keysbrook towards its targeted production rates.”

So RCF are going to be really nice to all shareholders and just fork out another $10m on top of the $6m at good rates? Don't think so.

"The board believes the funding package is the most suitable for the company at this time"

It's the only party that would have given them any funding and RCF will make MZI pay for every bit of it and more. Watch for some stupid interest rate and watch for the massive handout of free shares to them.

I also think a fair size capital raising will be coming shortly.

How this stock is still 30c amazes me.

P