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Further to the announcement last week on the tender results, Mustang Resources Ltd (ASX:MUS) (OTCMKTS:GGPLF) wishes to confirm that it is currently undertaking a detailed assessment of the market intelligence gathered from the first tender concluded Monday last week.

The results of this assessment will play a key role in determining Mustang's future operational and marketing strategies. The strategies will also reflect the feedback referred to in its ASX release dated 1 November 2017 regarding ruby categories and volumes.

Mustang expects to update the market in this regard within the next 2 weeks.


About Mustang Resources Ltd

New Energy Minerals Ltd is an ASX-listed company (ASX:MUS) focused on the development of the Caula Vanadium-Graphite Project in Northern Mozambique, located along strike from the Syrah Resources Ltd (ASX:SYR) Balama Project. In July 2018 New Energy Minerals announced a maiden vanadium mica-hosted JORC Measured Resource for Caula of 22Mt at 0.37% V2O5 for 81,600 tonnes of contained vanadium pentoxide. The Company concurrently announced a 317% increase in its JORC Graphite Resource to 21.9Mt at 13.4% Total Graphitic Carbon ("TGC") (8% cut-off), for a total of 2,933,100 tonnes of contained Graphite, all in the measured category.

The Company has a highly experienced board and management team with a 15-year track record of investment and successful project development in Mozambique and the Africa region. With the aim to become a key provider of vanadium and graphite, both key components used in battery production.

  

Contact

Managing Director:
Christiaan Jordaan
E: info@mustangresources.com.au
T: +61-2-9239-3119

Media & Investor Relations:
Paul Armstrong
E: paul@readcorporate.com.au
T: +61-8-9388-1474



Link: Montepuez Ruby Project - Update



Related Companies

Mustang Resources Ltd
  


Related Industry Topics:
Materials General Mining Graphite Gemstones

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