News and Announcements
Mustang Resources Ruby Inventory Hits 147,000cts
- Published August 18, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Mustang Resources (ASX: MUS) has recently released information in relation its ruby inventory at the Montepuez project in Mozambique continues to grow, reaching 147,052 carats.
KEY TAKEAWAYS:
- Ruby inventory hits 147,000cts, and is on track to reach 200,00cts target planned for October 2017.
- Plant working at full capacity.
- Mustangs inaugural rough ruby auction has been scheduled for 27-30 October 2017.
- Leading global ruby buyers have confirmed their attendance at the auction.
- Recently opened/discovered bulk sampling kits.
- Started the process of converting exploration licences to mining concessions with tenure of 25 years.
Mustang Managing Director Christiaan Jordaan said that all project work streams were going well and are on track for the auction.
“We are highly encouraged by the positive responses and support received from customers to date,” Mr Jordaan said. “Mustang’s management team is confident of delivering a strong inaugural auction and continuing to advance towards our goal of establishing the Company as a globally significant ruby supplier.
We are very pleased with the current performance of our processing plant after solving the remaining water challenges and now achieving good daily recoveries of high quality rubies.”
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