AUSTRALIA: Research Capital Fund Raises Its Stake in MZI Resources to 25.3%

摘要

Resource Capital Fund (RCF) is a private equity fund, with its head office in Denver, CO, and branch offices in Perth, Toronto and Long Island, New York. RCF is also the largest shareholder in MZI. It first became involved with MZI in June 2013, taking a 12% equity stake and subsequently helping to provide short-term funding. Over the past five months, RCF has increased its equity stake in MZI in two stages, from 17.1% to 19.9% and then to 25.32%, with the approval of Australia's Foreign Investment Review Board (FRTB) The RMB Australia funding consists of: a $US 37.5 million construction and amortising term loan (due for final repayment on 30 June 2019); a $US 3.0 million working capital debt facility (to be available onwards from the date of commencement of production of heavy mineral concentrates at Keysbrook); and a guarantee facility of up to $Aus 11.5 million to secure the Keysbrook project's obligations under Western Australia Environmental Protection Agency approvals, landowner agreements, electric power connection agreements, etc.; and foreign exchange hedging facilities to protect the project from adverse movements in the $US/$Aus exchange-rate.