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Montepuez Ruby Project - Update
Montepuez Ruby Project - Update
Sydney, Nov 7, 2017 AEST (ABN Newswire) - 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 New Energy Minerals Ltd

New Energy Minerals Ltd (ASX:NXE) (FRA:GGY) is an ASX listed company focused on the mining and exploration of Vanadium and Graphite – two commodities critical for the 'New Energy Market'.

The Company is currently fast tracking its world-class Caula Vanadium-Graphite project in Northern Mozambique, located along strike from the Syrah Resources Ltd (ASX:SYR) Balama Project, with first cash flows targeted for H2 of 2019 from trial mining operations.  New Energy Minerals' Caula project hosts a JORC (Measured) vanadium-graphite resource of 22 Mt @ 0.37% V2O5 (0.2% cut-off) and 13.4% TGC (8% cut-off) for 81,600 tonnes of vanadium pentoxide (180 million pounds) and 2.93 Mt of contained graphite.

New Energy minerals has a highly experienced Board of Directors, management, finance, exploration and geological team, with a 15-year track record of investment and successful project development in Mozambique and the Africa region. The Company aims to become a major 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



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