MZI Resources Ltd. Annual Financial Report 2015

23.09.2015  |  ABN Newswire

Perth, Australia (ABN Newswire) - The Directors present their report on the Consolidated Entity comprising MZI Resources Ltd. (ASX:MZI) and its controlled entities ("the Group") for the financial year ended 30 June 2015.


Review of Operations

During the year, the Group commenced construction and development of the Keysbrook Project in Western Australia.

The following significant achievements occurred during the year:

- Final investment decision for the Keysbrook Project;

- Execution and drawdown of finance facilities of approximately US$110m with finance providers, RMB Australia Holdings Limited ("RMB") and Resource Capital Fund VI L.P. ("RCF");

- Execution of an offtake agreement for approximately 65% of the Keysbrook Project's Leucoxene 88 ("L88") annual production with The Chemours Company;

- Execution and commencement of the lump sum, turn-key construction contact with GR Engineering Services Limited ("GRES") for the construction of a Wet Concentrator Plant ("WCP") and the upgrade and expansion of the existing Doral Mineral Sands Pty Ltd ("Doral") Mineral Separation Plant ("MSP"), with a value of $54.6m.

To view the Annual Report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-MZI-734537.pdf


About MZI Resources Ltd:

MZI Resources Ltd. (ASX:MZI) is a mineral sands company focused on the high value minerals of zircon, rutile and leucoxene. It has an advanced project at Keysbrook, Western Australia.

The Keysbrook project, located 70kms from Perth, Western Australia, is an advanced zircon / leucoxene rich mineral sands project. It has been granted all environmental, development and extractive industry license approvals from the relevant statutory authorities and Shires. Construction commenced early in 2015.


Contact:

MZI Resources Ltd.
T: +61-8-9328-9800
F: +61-8-9328-9911
www.mzi.com.au