Mustang Resources Ltd (ASX:MUS) (OTCMKTS:MTTGF) is pleased to announce that it has placed 21.74 million fully paid ordinary shares at 2.3 cents to raise $500,000 before costs under the recently completed Entitlement Offer.

The placement was supported by sophisticated and professional investors in Australia and overseas, with one Chinese investor subscribing for approximately 50% of the placement.

DJ Carmichael Pty Ltd acted as Lead Manager for the Placement.


About New Energy Minerals Ltd

New Energy Minerals (ASX:NXE) is an ASX listed junior mining company, that recently announced the divestment of the Company's Caula vanadium - graphite project and the Montepuez Ruby project in Mozambique.

  

Contact

Managing Director:
Bernard Olivier
E: bernard@mustangresources.com.au
M: +61-4-08948-182
T: +27-66-4702-979

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



Link: Placement of Shortfall Securities


Related Companies

New Energy Minerals Ltd
  


Related Industry Topics: