Mozambi gets speeding ticket on Namangale buzz

Published at Nov 23, 2015, in Small Caps

Mozambi Resources (ASX:MOZ) has been pulled up by the ASX after a sharp rise in its share price today.

At the start of trade, MOZ was trading at 4.5c before spiking 15.5% higher to 5.2c in the afternoon. Over 23 million MOZ shares had been traded before the ASX gave the company a so-called ‘speeding ticket’.

In response to the query, MOZ said the buzz surrounding its Namangale graphite play in Tanzania was driving the buy orders.

“Recent results at the Company’s [MOZ] new discovery at Namangale indicate based on visual logging that very thick mineralisation has been extended to 1.2km in strike length, and mineralisation remains open to the North and South. Planned drilling continues to be fast tracked at Namangale in order to define the Company’s maiden JORC Resource in the coming weeks,” it said.

MOZ also said the first assay results from that drilling were due back “in the coming week”.

Mozambi in Tanzania

Having switched its business focus from Mozambique to Tanzania earlier this year, MOZ has been exploring at its Tanzanian tenements since June.

Steady exploration in the form of drilling, trenching and assaying led to MOZ confirming that of 15 holes drilled at its flagship Chiwata prospect in Tanzania, all 15 had struck high grade mineralisation.

The news didn’t stop there for MOZ with the news that it had discovered a major new graphite discovery at an adjacent tenement, Namangale, in late October.

MOZ drilled a total of 12 holes at Namangale with large intercepts of up to 100m hits. These included hits of 100m, 94m, 75m, 73m, 47m, and 35m over an area measuring 960m in width.

The majority of mineralisation was logged as medium and high grade with coarse flake graphite, according to MOZ.

After discovering Namangale in October, MOZ then extended its potential earlier this month, with the effective strike length at Namangale going from 800m to 1.2km.

This drilling program has driven recent gains in MOZ in recent times, and with a maiden JORC resource at Namangale in the wings, MOZ theorised that this cou;d be behind the recent rise.

At the time of writing, MOZ shares were trading at 5.5c, 25% higher since Friday’s close.

About Namangale

The Namangale Prospect is contained in one of the areas picked up by MOZ as part of a deal struck with a local mining company back in September.

It picked up the prospect for an initial $104,000 in cash, with it also picking up three other tenements.

Mozambi Resources’ (ASX:MOZ) tenements in Tanzania

A number of resource companies have declared resources nearby, including fellow ASX-listed company Magnis Resources (ASX:MNS), which has a project 60km to the north.

A key geograpic belt runs through MOZ’s tenements and extends south into Mozambique, with the belt being tapped by the likes of Syrah Resources (ASX:SYR) and Triton Minerals (ASX: TON), which have both identified graphite deposits of over 1 billion tonnes.

View Our Investment Portfolios

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why is Australia’s leading small cap publication

Founded seven years ago, is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise. provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more. is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!