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).