Mustang Resources Ltd (ASX:MUS) is shifting its focus to the key battery metals of vanadium and graphite and this process involves a proposed name change to New Energy Minerals Ltd (ASX:NXE).
Geographical focus remains on Mozambique with the Caula Vanadium-Graphite Project, adjacent to the Montepuez Ruby Project which the company is divesting to Fura Gems Inc (CVE:FURA).
With this transaction allowing Mustang to devote attention to the world-class Caula project, non-executive director Christiaan Jordaan will outline fast-tracking plans at this month’s Proactive CEO Sessions.
Non-executive director Christiaan Jordaan.
The 80%-owned Caula project is directly along strike from and due north of the Balama Graphite Project of Syrah Resources Ltd (ASX:SYR).
Given the strong demand for vanadium and large-flake graphite, coupled with the exceptional results from Caula to date in 2018, Jordaan will explain why the company has taken the decision.
The new name proposed for approval by shareholders reflects the new focus on the development and mining of two geologically associated commodities from the same deposit.
Both metals are essential to the production of electric vehicles and the storage of renewable energy with graphite used in lithium-ion batteries and vanadium in vanadium redox-flow-batteries.
READ: Mustang Resources secures $2.4 million for vanadium-graphite project
The commodities also have traditional applications in the steel industry, a mainstay of global economic development.
Vanadium is used as a steel-strengthening alloy while large-flake graphite has the capacity to expand when heated and, therefore, has a fast-growing application in flame-retardant building materials.
The company has developed a simple, fully integrated flowsheet to extract vanadium and graphite from the same processing plant, using for the most part simple flotation.
READ: Mustang Resources begins feasibility drilling at Caula Vanadium-Graphite Project
Among the near-term plans to be outlined by Jordaan at the CEO Sessions are completion of a scoping study, vanadium test work, feasibility study drilling, permitting, trial mining and discussions with strategic project partners.
Register today to find out more.
Sydney details, Monday, September 17, 2018
Melbourne details, Tuesday, September 18, 2018
Or call John Phillips on (02) 9280 0700
The Proactive CEO Sessions will feature five presenting companies in total.