(MENAFN- ABN Newswire) Sydney, Sep 25, 2017 AEST (ABN Newswire) - Mustang Resources Ltd () () provides the Company's latest Corporate Presentation.
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
Listed on the Australian Securities Exchange, Mustang Resources Limited () ()is an emerging gemstone developer and producer focused on the near-term development of the highly prospective Montepuez Ruby Project in northern Mozambique.
The Montepuez Ruby Project consists of four licences covering 19,500 hectares adjacent to the world's largest ruby deposit discovered by Gemfields PLC () in 2012. Since supply of rubies from sources outside Mozambique has become fractured and unreliable, Mustang stands to capitalise on the current demand around the world for ethically produced rubies by becoming a reliable, consistent supplier of high-quality rubies.
The Company is fast-tracking its work program on the Montepuez Ruby Project with high priority targets being identified and low-cost bulk sampling well underway.First rough ruby sales are scheduled for October 2017 under a closed bid tender of an estimated 200,000 cts gem quality rubies.
Visit the Mustang website at for more information.
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