Next Investors logo grey

Mozambi aims to fast track PFS

|

Published 17-FEB-2016 15:38 P.M.

|

2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.


Click Here to View Latest Articles

Mozambi Resources looks set to fast track its pre-feasibility study (PFS) after receiving heavily oversubscribed commitments from sophisticated and professional investors.

The company intends to place 135 million new fully paid ordinary shares at an issue price of 3.3 cents per share to raise $4.46 million before associated costs.

The funds will be used to fast track the PFS and continue development activities at Mozambi’s 100% owned Tanzanian Namangale Graphite Project.

Namangale contains the largest graphite JORC Resource in Tanzania, with a very high proportion of Super Jumbo and Jumbo flake size graphite distribution.

Location of the Nachingwea Project tenements, including Namangale project

Location of the Nachingwea Project tenements

Mozambi chairman Stephen Hunt was pleased with the result saying,We are delighted with the support received from sophisticated and professional investors as a part of our capital raising. The extent of this support has demonstrated confidence in the potential of our graphite project.”

Mr. Hunt also alluded to investors’ willingness to support new energy generation.

“Not only have the participants believed in the Company’s strategy, but also are very supportive of the need to contribute to the evolution of the energy generation sector and the removal of old world energy sources, as the world embraces cleaner, greener technologies,” Mr Hunt said.

“Mozambi is on its way to providing key ingredients of clean battery cell technology going forward.”

Mr Hunt’s role within Mozambi expanded recently. The former Magnis Resources and BHP executive joined the company as Chairman in December 2015 and since then has been working tirelessly to assist with the development of the Namangale Graphite Project.

With recent exciting advancements at Mozambi, including the definition of maiden JORC Resource, Mr Hunt accepted the role as Executive Chairman to oversee corporate functions including management of the PFS and other key corporate objectives such as the assessment and securing of potential off-take arrangements.

The successful capital raising will now fully fund the Company to undertake a detailed PFS and push forward on aggressively developing the Namangale Graphite Project.

About Namangale

The Namangale Project is the largest graphite deposit in Tanzania containing a JORC compliant Inferred Resource of 179Mt @ 5.1% TGC. The project is well located in South Eastern Tanzania being 140km from a deep-water port and 10km from sealed roads. Mineralisation at the three drilled deposits, occurs from surface and remains open in all directions. After the completion of the capital raising the Company is now funded to complete a Pre-Feasibility Study into commencing production of high quality flake graphite targeting the rapidly expanding lithium-ion battery market.

tags

GRAPHITE


General Information Only

This material has been prepared by Jason Price. Jason Price is an authorised representative (AR 000296877) of 62 Consulting Pty Limited (ABN 88 664 809 303) (AFSL 548573) (62C), and a Director of S3 Consortium Pty Ltd (trading as StocksDigital).

This material is general advice only and is not an offer for the purchase or sale of any financial product or service. The material is not intended to provide you with personal financial or tax advice and does not take into account your personal objectives, financial situation or needs. Although we believe that the material is correct, no warranty of accuracy, reliability or completeness is given, except for liability under statute which cannot be excluded. Please note that past performance may not be indicative of future performance and that no guarantee of performance, the return of capital or a particular rate of return is given by 62C, Jason Price, StocksDigital, any of their related body corporates or any other person. To the maximum extent possible, 62C, Jason Price, StocksDigital, their related body corporates or any other person do not accept any liability for any statement in this material.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.