17/07/2013 - 14:36

Argonaut underwrites MZI’s $3m share purchase plan

17/07/2013 - 14:36

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Perth based mineral sands miner MZI Resources announced today that Argonaut Capital has agreed to underwrite the company's $3 million share purchase plan.

MZI Resources is capital raising to develop its Keysbrook mineral sands project

Perth based mineral sands miner MZI Resources announced today that Argonaut Capital has agreed to underwrite the company's $3 million share purchase plan.

The purchase plan offers shareholders the opportunity to purchase additional shares at just under 1.3 cents a share until closing on the 19th of July.

MZI's shares last traded at 1.4 cents a share.

The company recently raised an additional $3 million through a share placement with Resource Capital Funds, also at just under 1.3 cents a share.

MZI said it will use both of the funds raised to develop the company's Keysbrook mineral sands project.

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