Dear Valued Shareholder,
I am writing on behalf of the Board of Directors of your Company to provide you with this update on the Company’s near-term development plans for our flagship Montepuez Ruby Project in Mozambique, and also to provide some details on our Share Purchase Plan offer.
First, I would like to thank you all for your continued support during what has been a challenging yet transformative period for your Company. As you will all be aware, Mustang has gone through some significant changes in recent months and we believe we have now established the foundations that will allow us to rapidly accelerate our growth strategy.
Due to our extensive in-country network and operational focus in Mozambique, Mustang was able to acquire rights to earn majority interests in three prospective ruby licences earlier this year. The acquisition was completed on 26 February 2016, following which we have decided to focus the majority of our resources on unlocking value from Montepuez in the near-term.
For further information please download PDF attached:
