Mozmin Resources Pty Limited (Mozmin) today announced that Director Adam Schofield has completed a site visit at its Inhambane Mineral Sands project with its proposed drilling contractor Agua Terra . This site visit was to ensure understanding of the works between Mozmin and Agua Terra. Mr Schofield said he was very pleased with Agua Terra's Mineral Sands experience and their equipment. Mr Schofield expected a commencement date for the proposed drilling contract to be announced soon.
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Mozmin Resources Pty Limited (Mozmin) today announced the commencement of a due diligence period on both its Inhambane and Chibuto Tenements. This due diligence is intended to verify the presence of mineral sands and generate an exploration target for the Inhambane Tenement. The due diligence period commenced today the 1st of February and will end on the 31st May giving Mozmin four months in which to satisfy itself with the pedigree of these two assets. Director Adam Schofield said he was confident that the due diligence time period is more than sufficient to complete the planned work program. A one off due diligence payment has also been made to the project Vendor.
Mozmin Resources Pty Limited (Mozmin) has today announced that it has received Environmental Approvals for both of its mineral sands projects in Mozambique. Director Adam Schofield said this is a huge step towards the commencement of Mozmin's exploration programs on the two tenements. The environmental approvals provide all the legal documentation to enable Mozmin to commence exploration.
Mozmin Resources Pty Limited (Mozmin) has opened its second tranche of seed capital raising ($100,000) to a select group of sophisticated investors. A third tranche of seed capital raising ($262,500) will commence shortly. Director Adam Schofield said this was the next step towards establishing Mozmin as an Industrial Minerals Company and adding shareholder value. The funds raised in the second tranche will initiate the first stage of Mozmin's exploration program in Mozambique. This first stage of exploration will be followed by a sample assay and reporting program aimed at determining an exploration target and possibly an inferred resource. Mozmin considers the determination of an exploration target and possibly an inferred resource important in its plans to list on the Australian Securities Exchange (ASX).
Mozmin Resources Pty Limited (Mozmin) is pleased to announce the appointment of two Directors to it's board. Greg Jones brings over 20 years of experience as a geologist to Mozmin. He has operated primarily in the mineral sands industry and has spent the majority of his career with Iluka Resources Ltd. Mark Csar brings over 25 years of exploration and mining industry experience to Mozmin with a focus in mineral sands. Mark spent 10 years with Iluka Resources Ltd where he was most recently the Exploration Manager for the USA. Director and Chairman of Mozmin Adam Schofield said he was excited to have appointed two Directors with such a wealth of mineral sands experience and believes the Mozmin team is well placed to deliver exceptional shareholder value.
Mozmin Resources Pty Limited (Mozmin) has today successfully closed its first tranche of seed capital raising ($75,000) from a select group of sophisticated investors. Director Adam Schofield said this was the first step towards establishing Mozmin as an Industrial Minerals Company. The funds raised will provide basic operating capital till June 2014 by which time Mozmin intends to have been admitted onto the Australian Securities Exchange (ASX).
Mozmin Resources Pty Limited (Mozmin) has signed an agreement with the owners of two highly prospective mineral sands tenements in Mozambique. The formalising of this agreement commences a capital raising program aimed at providing operating capital and the funding of a detailed early stage exploration program followed by Mozmin listing on the ASX in mid 2014. Mozmin has the earn in right to 85% of the tenements based on the completion of a successful due diligence period, listing on the ASX and 12 months worth of target expenditure having been met. Director Adam Schofield said he was very excited with the tenements Mozmin has acquired and expected the capital raising and the results of the exploration program to be very positive.