(MENAFN- ProactiveInvestors)
() has completed the forty to one share consolidation with normal trading of its shares resuming on the ASX today.
The company now has around 72 million shares issued down from close to 2.9 billion shares pre-consolidation. MZI is currently trading at $0.25.
Shareholders had approved the share consolidation at the company’s Annual General Meeting on 25 November 2014.
In November MZI commenced engineering and purchase of equipment for its Keysbrook Mineral Sands Project in Western Australia after drawing down on funding.
First production from the project located 70 kilometres south of Perth could start in the December 2015 quarter.
It has also signed a sales agreement with DuPont Titanium Technologies a DuPont business for 25000 tonnes per annum of leucoxene 88% titanium dioxide (L88) from Keysbrook.
DuPont is the world’s largest titanium dioxide pigment producer.
The agreement is the third to be signed for the Keysbrook Project and now around 85% of the project's annual production by volume has now been sold under long term contracts.
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