Mustang Resources Ltd.: Appoints Senior Resources Executive to the Board
Sydney - Mustang Resources (ASX:MUS) (OTCMKTS:GGPLF) ("Mustang" or the "Company") is pleased to announce that highly experienced resource industry executive Peter Spiers has been appointed as a Non-executive Director.Mr Spiers has more than 30 years of international experience in the resources industry spanning exploration, mine development, operations and commercial roles.
He spent 15 years with Western Mining Corporation ("WMC"), during which time he worked as a senior geologist, project manager and lastly Group Manager - Business Development prior to WMC being acquired by BHP Billiton (ASX:BHP) for A$9.2billion.
Subsequent to his employment with WMC, Mr Spiers was Managing Director of Orbis Gold (ASX:OBS), an ASX-listed West African gold company which was acquired for A$170 million in 2015 by Semafo Inc. at a 98% bid premium.
Mr Spiers is a graduate geologist from the University of Melbourne and a Member of the Australasian Institute of Mining and Metallurgy.
Mustang Chairman Ian Daymond said Mr Spiers' combination of extensive technical skills, project management expertise and commercial experience would be highly valuable to Mustang as it established its Montepuez Project in Mozambique as a world-class ruby producer.
"Peter's experience in a wide range of technical and commercial roles within the resources industry means he is perfectly placed to assist Mustang as we ramp up ruby production ahead of our first auction in October," Mr Daymond said.
"Peter will be able to provide valuable advice, ranging from exploration and project development through to marketing and commercial issues as we continue work to unlock the value of our outstanding assets."
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About Mustang Resources Ltd:
Listed on the Australian Securities Exchange, Mustang Resources Ltd. (ASX:MUS) (FRA:GGY) is an emerging gemstone developer and producer focused on the near-term development of the highly prospective Montepuez Ruby Project in northern Mozambique.
The Montepuez Ruby Project consists of four licences covering 19,500 hectares adjacent to the world’s largest ruby deposit discovered by Gemfields Plc (LON:GEM) in 2012. Since supply of rubies from sources outside Mozambique has become fractured and unreliable, Mustang stands to capitalise on the current demand around the world for ethically produced rubies by becoming a reliable, consistent supplier of high-quality rubies.
The Company is fast-tracking its work program on the Montepuez Ruby Project with high priority targets being identified and low-cost bulk sampling well underway. Mustang also holds interests in seven graphite licences in the Balama area of Mozambique, where it has discovered a Tier-1 high-grade flake graphite deposit at its Caula Project.
Visit the Mustang website at http://www.mustangresources.com.au for more information.
Contact:
Mustang Resources Ltd.
Managing Director: Christiaan Jordaan
E: info@mustangresources.com.au
T: +61-2-9239-3119
Media & Investor Relations:
Paul Armstrong
E: paul@readcorporate.com.au
T: +61-8-9388-1474