MZI Resources (ASX:MZI) has received a notice of initial substantial shareholding from Technical Investing Pty Ltd, which holds a 6.5% interest in the company.
Technical had acquired 166,666,665 shares in the company for $1,002,200, or an average of $0.006, on 5 August 2014, bringing its total shareholding up to 181,666,665 shares.
MZI had this week noted that Stirling Resources has sold its entire shareholding of 581.8 million shares, or 20.9% of MZI shares, to a mix of institutional funds, high net worth investors and the company’s management and staff.
Stirling is a wholly-owned subsidiary of Austrian metal trading group DCM DECOmetal GmbH, which is liquidating its Australian assets.
The company is close to securing financing to commence development of its Keysbrook Mineral Sands Project in Western Australia.
