Shareholder Letter - Retraction of Peer Comparison
Sydney, Sep 6, 2018 AEST (ABN Newswire) - On 31 August 2018 Mustang Resources Limited (
ASX:MUS) (MTTGF:OTCMKTS) ("Mustang", the "Company") issued a shareholder letter entitled "Mustang to be renamed "New Energy Minerals Ltd to reflect its focus on the world-class Caula Vanadium-Graphite Project".
Following discussions with the ASX, Mustang hereby retracts the peer comparison information contained in the shareholder letter.
Retracted Statements;
On pages 2 and 3 of the shareholder letter, information was provided in the form of peer comparisons with other African graphite companies. The peer comparisons compared the JORC Measured Resources, Flake sizes and Grades of different African focused graphite companies, based on published results from peer companies noted in the shareholder letter.
The peer comparison in respect of Resources only compared the Resource in the Measured Resource category (highest degree of geological confidence) and did not include Inferred Resources nor Indicated Resources, nor did it demonstrate if any of the Indicated or Measured Resources have been converted to a Reserve.
Accordingly, African Graphite Companies Peer Comparison - Table 1 on page 2 and the reference to it are retracted.
African Graphite Peer Comparison - Figure 1 on page 3 and the reference to it are retracted.
Accordingly, investors should not rely on the retracted information as a basis for an investment decision in relation to Mustang's shares.
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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