Overview: Mustang Poised For Rapid Growth
GOAL: To become one of the world's leading suppliers of high quality Mozambique rubies through regular closed-bid tenders
- Mustang is the only listed ruby miner in the world
- Ruby production successfully ramped up at the Montepuez project in Mozambique
- Ruby inventory grown to 277,000 carats (as at Sept 12) - well ahead of initial target of 200,000 carats by end of October
- First ruby tender 27 to 30 October 2017, set to generate significant maiden cashflow for Mustang
- Leading global ruby buyers have confirmed their intention to take part in the tender
- Evidence from recent auctions and feedback from buyers show
18 MONTH STRATEGIC OBJECTIVES
- Host a strong maiden rough ruby tender 27 to 30 October 2017 to generate significant early cash flows
- Reinvest portion of maiden tender proceeds for low cost scale up of existing processing plant and set up an additional processing plant to achieve targeted 1 to 2 Mtpa processing capacity
- Rapidly grow ruby inventory from increased processing capacity to deliver at least two tenders in CY-2018 moving to minimum three per year from CY- 2019
- Establish a minimum 10 year JORC Compliant Resource through investing into aggressive auger drilling and pitting program post October 2017 tender
- Pursue opportunities to grow landholding in world class Montepuez gem field to >400sqkm from 193sqkm
- Increase economic interest in main existing projects
= OPPORTUNITY TO DELIVER CONSISTENT LONG TERM CASHFLOW FOR SHAREHOLDERS
To view the full presentation, please visit:
About Mustang Resources Ltd
Mustang Resources Limited (ASX:MUS) (FRA:GGY) is an ASX listed company 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 Mustang announced a maiden vanadium 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 graphite and vanadium, both key components used in battery production, the company currently has a scoping study underway, which is due for completion in Q3 2018.
Visit the Mustang website at http://www.mustangresources.com.au for more information.
Mustang Resources Ltd