Sydney, Mar 13, 2006 AEST (ABN Newswire) - Olympia Resources Ltd (ASX: OLY) is pleased to announce it has appointed BurnVoir Corporate Finance Limited as financial adviser and arranger of debt finance for the development of the Keysbrook Mineral Sands Project in Western Australia.
Olympia is progressing quickly towards project development. The Bankable Feasibility Study for the Keysbrook Project is completed, and long-term titanium and zircon supply contracts have been signed with DuPont and a major European zircon miller respectively. Construction is proposed to commence in July 2006 and mining at Keysbrook targeted to commence in early 2007.
BurnVoir brings considerable experience in arranging debt finance in the resources sector, most recently having arranged a A$160 million project recourse debt funding package for an ASX-listed coal company's underground longwall development.
About BurnVoir Corporate Finance
BurnVoir Corporate Finance is a Sydney based independent advisory firm focused on providing advice for resources, energy and infrastructure sector participants. Recent transactions undertaken by BurnVoir include:
- arranger of $230m in project recourse debt for the Tarong North Power Station;
- financial adviser to an ASX-listed iron ore producer in WA on the financing of a $1bn magnetite concentrate and iron ore pellet project;
- advising the Queensland Government on the acquisition of the Western Australian freight network by Queensland Rail; and
- financial adviser and arranger of debt for a 45MW Perth BioEnergy Project to be located at the Neerabup Industrial Estate north of Perth.
About MZI Resources Ltd
MZI Resources Ltd (ASX:MZI) is a mineral sands company focused on the high value minerals of zircon, rutile and leucoxene based in Perth, Western Australia. Its flagship operating asset is the Keysbrook Mineral Sands Project, located 70km south of Perth. At the Keysbrook mine, mineral sands are mined and processed to produce heavy mineral concentrate (HMC) which is processed into final products under a toll treating arrangement with Doral Mineral Sands Pty Ltd at the Picton Mineral Separation Plant (MSP) near Bunbury.
The Keysbrook mine hosts a world-class zircon / leucoxene ore body with total Ore Reserves equivalent to over 15 years of production at design output rates, and total Mineral Resources equivalent to over 30 years of production. Production commenced in late 2015, making the Keysbrook Project Australia’s first – and the world’s largest - primary producer of high value leucoxene.
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