Mustang Resources Ltd is an ASX listed company (ASX:MUS) focused on the development of the Caula Vanadium-Graphite Project in Northern Mozambique, located along strike from the Syrah Resources Ltd (ASX:SYR) Balama Project.
In July 2018 Mustang announced a maiden vanadium mica-hosted JORC Measured Resource for Caula of 22Mt at 0.37% V2O5 for 81,600 tonnes of contained vanadium pentoxide. The Company concurrently announced a 317% increase in its JORC Graphite Resource to 21.9Mt at 13.4% Total Graphitic Carbon (“TGC”) (8% cut-off), for a total of 2,933,100 tonnes of contained Graphite, all in the measured category.
Whilst the project is still in the feasibility stage, the test work results highlight the potential for Caula to become an important low-cost graphite and vanadium supplier to the fast-growing lithium & vanadium-redox flow batteries and expandable graphite industries. Learn More About Caula
The Company has a highly experienced board and management team with a 15-year track record of investment and successful project development in Mozambique and the Africa region. With the aim to become a key provider of vanadium and graphite, both key components used in battery production, the company currently has a scoping study underway, which is due for completion in Q3 2018.