Insurance Claim Settled
Sydney, Jan 12, 2018 AEST (ABN Newswire) - Mustang Resources Limited (Company or Mustang) (
ASX:MUS) (GGPLF:OTCMKTS) is pleased to advise that it has received the proceeds of the insurance claim relating to the rubies and corundum stolen in the robbery at its Montepuez Ruby Project in September 2017 (see ASX release dated 26 September 2017).
Following an assessment by Lloyds Underwriters, Mustang has received payment of A$423,650 in full and final settlement of the claim.
Since the incident, Mustang has upgraded its security measures and general controls on site.
Mustang Directors would like to express appreciation to the members of its on-site team at Montepuez for the efforts made to plan and implement the revised security measures and for their commitment to the project.
About New Energy Minerals Ltd
New Energy Minerals Ltd (ASX:NXE) (FRA:GGY) is an ASX listed junior mining company, that recently announced the divestment of the Company's Caula vanadium - graphite project and the Montepuez Ruby project in Mozambique.
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