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Mustang Resources enters trading halt pending asset merger
9:30 CAT | 16 Jul 2018
Mustang is focused on two projects in the northern region of Mozambique in East Africa. They are the revenue-generating Montepuez Ruby Project and the high-grade Caula Graphite Vanadium Project. (File photo)
Mustang Resources Ltd (ASX:MUS) has been granted a trading halt by the Australian Securities Exchange (ASX) this morning pending further details regarding an asset merger transaction.
Shares in the company will remain halted until the earlier of either the release of relevant information regarding the asset merger, or, the commencement of trading on Wednesday.
Mustang is focused on two projects in the northern region of Mozambique in East Africa.
They are the revenue-generating Montepuez Ruby Project and the high-grade Caula Graphite Vanadium Project.
Mustang is targeting first phase production of vanadium and graphite from its Caula project in Mozambique in the first half of 2019.
This makes Mustang one of the closest vanadium-graphite developers to achieving actual cash flows.
Source: Proactive Investors
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