Mineral sands company, MZI Resources
(ASX:MZI), has released its activity report for the September quarter.
The company says it finished the quarter with $5.1 million in cash, along with undrawn debt and guarantee facilities of $6.9 million.
MZI says the key focus in the last quarter was its continuing production ramp-up at its leucoxene deposit, the Keysbrook Project (in WA) – which generated positive operating cashflow of $7.5 million.
The company also says production of saleable products increased 24% to 13,378 tonnes, compared with 10,826 tonnes in the June quarter.
MZI Resources net loss of $24.4 million at 30 June 2016.
