News and Announcements
Mustang Resources Raises A$13m & Hits a Market Cap of A$28m
- Published July 12, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
FY17 EOFY Highlights:
- Market cap: A$28 million (5cents) up from $8million in December 2016
- One of only two listed ruby miners in the world
- Flagship Montepuez project located next to London-listed Gemfields (subject to takeover)
- Raised A$13million in equity capital between January 2016 to June 2017; fully-funded to first ruby sale in October 2017
- Current gem ruby inventory of >120,000 carats and growing rapidly
- Targeting 200,000 carats by October 2017 for first bulk auction/tender
- Appointed experienced geologist Peter Spiers to the Board as Non Exec
ABOUT MUSTANG RESOURCES
Mustang Resources Limited (ASX:MUS) is an emerging gemstone explorer and developer focused on delivering significant cashflows in the near term from the highly prospective Montepuez Ruby Project in northern Mozambique, with first rough ruby sales scheduled for October 2017.
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