https://www.engineeringnews.co.za

Mustang raises cash for Mozambique ruby project

5th August 2016

By: Creamer Media Reporter

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Junior Mustang Resources has raised $1-million through a placement to professional and sophisticated investors to scale up a planned bulk sampling programme at the Montepuez ruby project, in Mozambique.

Mustang has received commitments for 25-million new shares at 4c each from professional and sophisticated investors. Hartley’s is acting as lead broker.

The bulk sampling programme at Montepuez will start later this quarter.

While undertaking trenching activities in preparation for the bulk sampling programme, Mustang recently recovered ten rubies, totalling 2.61 ct.

Mustang’s Montepuez ruby project comprises three licences covering 15 800 ha within the Montepuez Complex. It is adjacent to Aim-listed Gemfields’ 75%-owned Montepuez ruby mine.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Environmental Impact Management Services
Environmental Impact Management Services

EIMS is an independent specialised environmental consulting firm offering the full spectrum of environmental management services across all sectors...

VISIT SHOWROOM 
The Beneficiation Academy
The Beneficiation Academy

The Beneficiation Academy is a certified training institution that follows all compliance legislation and is accredited with various Sector...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.057 1.224s - 140pq - 2rq
Subscribe Now