Placement of Shortfall Securities
Placement of Shortfall Securities
Sydney, May 14, 2018 AEST (ABN Newswire) - 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 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:
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



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