Company Announcement: MZI Resources - Secures final landowner agreements for development of Keysbrook Mineral Sands Project
MZI Resources is pleased to announce that it has secured the remaining landowner agreements it needs to start development of its flagship Keysbrook Mineral Sands Project in WA’s south-west. The agreements, which have been made with three landowners, give MZI the right to access and mine minerals on the properties involved. One property is where the concentrator, site access road and associated infrastructure will be located. Combined with existing landowner agreements and Company owned property, the Ore Reserve life of the project is now supported by access and mining rights under the landowner agreements.
The landowner agreements follow MZI’s announcement earlier this week that the Board of the Bunbury Port Authority has authorised BPA management to negotiate a Port Services Agreement with the Company. The completion of these agreements continue the achievement of project milestones as MZI moves closer to finalising its financing arrangements for Keysbrook, including the debt facilities currently being negotiated with two leading banks. This puts MZI on track to start construction of Keysbrook in this quarter, with first production set for the March quarter of 2014. MZI Chief Executive Officer Trevor Matthews said the Company was now on the cusp of securing the finance for Keysbrook. “This project has a short construction period compared with most resource projects,” Mr Matthews said. “With the key agreements either finalised or very close to completion, Keysbrook is now only about a year away from generating substantial cashflow for the Company and its shareholders.”
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