PERTH (miningweekly.com) – ASX-listed Mustang Resources has listed on the Frankfurt Stock Exchange, trading under the stock symbol GGY, as a result of the growing interest among European investors, in the Montepuez ruby and Caula graphite projects, in Mozambique.
Mustang on Monday told shareholders that its ruby inventory from the Montepuez project had now increased to 63 989 ct, with the first "special stones" sent to the US to be cut and polished in preparation for certification and sale in the second quarter of 2017.
Production at Montepuez is currently ramping up to the targeted rate of 525 t/d.
Meanwhile, the company reported earlier this month that it had made a high-grade graphite discovery at Caula, which the company believed would enable it to generate a top-quality product at a relatively low cost.