Bondi Mining Ltd fresh from a merger with World Titanium Resources in December, has received a substantial shareholder notice from Mineral Deposits.

The company is currently suspended from quotation pending a change of activities and will re-emerge as World Titanium Resources.

Mineral Deposits has acquired a 14.9% interest in the soon to be renamed World Titanium Resources at a cost of AUD 12.1 million.

The Toliara mineral sands project in southern Madagascar owned by World Titanium Resources is key to Mineral Deposit's investment, representing a prime development opportunity.

Mineral Deposits said it had acquired the holding for investment purposes. It would evaluate its investment and may increase or decrease its holding from time to time.

The Toliara project is based on two exploration areas located north of the port in Toliara in southwest Madagascar. It has a large mineral sands occurrence containing the valuable heavy minerals ilmenite, rutile, zircon and leucoxene.

World Titanium Resources has applied for reinstatement of securities to official quotation from January 12th 2012.

(Sourced from www.proactiveinvestors.com.au)