MUS
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Company News
Mustang Resources name change to New Energy Minerals, Caula scoping study due
Former market darling Mustang Resources (ASX: MUS) is moving further away from its notorious ruby past after the reshuffled board proposed a rename to New Energy Minerals (ASX: NXE) to reflect the company’s altered direction into the battery minerals sector. Mustang claims the move allows it to focus on its 80%-owned Caula vanadium-graphite project in […]
Mustang posts maiden vanadium resource at Caula, dilutes ruby portfolio
Mustang Resources (ASX: MUS) has released a maiden vanadium resource for its Caula graphite-vanadium project in Mozambique just days after reporting it was merging its ruby interests with Fura Gems (TSXV: FURA). The maiden vanadium resource totals 22 million tonnes at 0.37% vanadium pentoxide for 81,600 contained tonnes of the mineral. According to Mustang, the […]
Caula gives up high-grade vanadium for Mustang Resources as well as graphite
Caula is proving to be a much-needed boon for beleaguered ruby miner Mustang Resources (ASX: MUS) with the project producing further wide, high-grade vanadium results in addition to the high-grade graphite. Latest assays from drilling at Caula in Mozambique returned up to 1.02% vanadium and 24.2% total graphitic carbon (TGC). Notable drill results were 22m […]
Mustang Resources unearths huge wide and high-grade graphite and vanadium at Caula
Controversial ruby miner Mustang Resources (ASX: MUS) has unearthed huge thick, high-grade graphite and vanadium at its Caula project in Mozambique. Diamond drilling intersected up to 125m of mineralisation with grades ranging up to 24.2% total graphitic carbon (TGC) and 1.02% vanadium. Results from 1m composite samples returned 125m grading 14.1% TGC and 0.42% vanadium […]
Mustang Resources to bring Caula graphite-vanadium project online by mid-2019
Beleaguered ruby miner Mustang Resources (ASX: MUS) has revived its board, ruby mining strategy and edged deeper into the graphite space after a review of its Caula graphite project revealed it could be brought online in just over 12 months. Mustang’s new managing director Dr Bernard Olivier led the review in conjunction with non-executive director […]
Mustang to develop new grading strategy following failed tender and managing director resignation
Three days after Mustang Resources’ (ASX: MUS) managing director Christiaan Jordaan resigned, the company has announced a strategic update revealing several new actions including overhauling its ruby grading system, following the company’s disastrous maiden tender. Prior to the botched auction, Mustang had developed its own grading system in conjunction with ruby expert consultants. The system […]
Mustang Resources’ inaugural ruby tender leaves a bad taste for investors
Market darling Mustang Resources (ASX: MUS) announced this morning it had sold less than 8% of its ruby inventory, worth A$713,456 at its inaugural tender, which was only a sliver of what the company initially anticipated. Out of 21 schedules on offer, only eight were sold, with the company accepting bids ranging from $6 per […]
Mustang Resources’ maiden ruby tender inventory doubles, signals expansion
The world’s only publicly listed ruby miner, Mustang Resources (ASX: MUS), has reported a further increase to the ruby inventory it will be taking to its maiden tender this Friday 27 October 2017 – making it more than double the original amount. Initially, 200,000 ruby carats were to be taken to the tender, but earlier […]
Mustang Resources boosts ruby inventory in time for maiden tender
Mustang Resources (ASX: MUS) announced its ruby inventory had swelled to 352,260 carats in time for the company’s first tender between 27 and 30 October 2017. During September, the company achieved record production of 27,131 carats from its Montepuez ruby project in Mozambique’s north. As a result of record production and existing stockpiles, the initial […]
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