Mustang Resources Limited (
The Company is also pleased to announce the release of an updated presentation titled "An Emerging Gemstone Miner in Mozambique".
Overview: Mustang Poised For Rapid Growth
- Market Cap ~ A$41M - one of only 2 listed ruby miners in the world
- Flagship Montepuez Project located next to London-listed Gemfields Plc. (
- Multiple ruby deposits identified in 195sqkm land package
- Aggressive drilling campaign to build inventory & JORC Resource in H2 2017
- Throughput rates now ramping up to three times previous rate following successful plant relocation
- First commercial parcel of rubies totalling 6,221cts sent to USA in January 2017
o Aim to establish market values and customer relationships
- Mustang on track for first sales revenue in Q2 2017
- Agreement to acquire a 65% interest in adjacent ruby licence where artisanals are mining gem-quality rubies from a shallow deposit 3km SE from existing plant
- Additional upside from Balama Graphite Project, located in world-class graphite province
Summary: Key Investment Takeaways
- Premier ruby project in a world-class gemstone province
- Management team with in country experience & "skin in the game"
- First sales revenue expected Q2 2017, plus maiden JORC resource in H2 2017
- Outstanding exploration upside and growth potential
- Acquiring adjacent licence where local miners are recovering large gem-quality stones from a shallow deposit, complementary to growing bulk sampling program
- Heavily oversubscribed February placement to a select group of new and existing institutions and sophisticated investors to raise $5.88 million
- Additional upside from low cost graphite project in world-class district
To view the full presentation, please visit:
http://abnnewswire.net/lnk/7EPL2B5O
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: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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