Correction to Announcement of 11 April
Maiden Ruby Sales from Thailand Office - Correction
Sydney, April 13, 2018 AEST (ABN Newswire) - Mustang Resources Limited (
ASX:MUS) (MTTGF:OTCMKTS) (Mustang) refers to its announcement made on 11 April 2018, entitled "Maiden Ruby Sales from Newly Established Office in Thailand".
The Company has identified a numerical (spreadsheet) error in the historical sales database for carats sold and the average value per carat received. The sentence reporting those items should read:
"Total sales of A$1.23 million have been generated since September 2017 to date from the sale of 100,184 carats at an average price of A$12.29 per carat."
In addition, the Company received an insurance claim pay-out of A$423,650 from the theft of 19,000 carats as announced in September 2017, resulting in total revenues of $1.655 million since September 2017, rather than the $1.757 million as reported in the original announcement.
The sales figure of $230,953 for maiden sales from the Chantaburi office in Thailand is unchanged.
Mustang's Managing Director, Dr Bernard Olivier, said: "It is regrettable that the historical sales database contained an error and we have now conducted a full internal audit of all of our historical sales and stock figures and are also upgrading our database and accounting software and systems to ensure that no further errors occur with the reporting of these historical sales figures."
A corrected replacement release is attached hereto (see link below).
To view the release, please visit:
http://abnnewswire.net/lnk/Q5F7S0N3
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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