Mustang beats tender targets
PERTH (miningweekly.com) – Ruby miner Mustang Resources has exceeded its first auction target.
The miner on Tuesday reported inventory levels of 277 000 ct, which meant that Mustang is on track to exceed its 300 000 ct target for its maiden tender in October.
MD Christiaan Jordaan said the rising production rates and inventory coincided with strong interest in the tender from ruby customers around the world.
“The planets are aligning perfectly for our maiden tender. We have exceeded our most optimistic inventory targets and all the feedback we are getting points to strong demand for rubies among global customers.
“Our tender inventory will be significantly higher than we had expected, opening the door to increased sales and revenue for the company.”
Jordaan said that the increased inventory would also assist in attracting leading ruby buyers from around the globe, who were looking at critical mass to meet strong demand.
Mustang is producing rubies from its Montepuez project, in Mozambique, where the first ruby was recovered in July last year.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation