Highlights:
- Share Placement & Converting Loans for $5.75 Million completed.
- Significant participation from Institutional and High Net Worth
investors.
- Placement at a 6% premium to the 15 day VWAP.
- Negotiations on foot with other proposed cornerstone investor to
raise additional funds.
- Mustang now well-funded to progress its diamond, ruby and
graphite projects and accelerate near-term growth strategy.
- Bulk sampling at Montepuez ruby project to commence March 2016.
- Ruby bulk sampling program conservatively targeting US$60 million in revenue from 12-15 month program.
Mozambique focused exploration and project development company Mustang Resources Limited (Mustang or Company)
(ASX:MUS) is pleased to announce that it has raised $6 million to advance development of its graphite, diamond, and recently acquired ruby assets.
For further information please download PDF attached:
