Argonaut underwrites MZI’s $3m share purchase plan

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.