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Mustang Resources details timeline for Montepuez Ruby Project

Mustang is the only globally listed ruby producer.

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Montepuez rubies

Mustang Resources Ltd (ASX:MUS) is currently undertaking a detailed assessment of the market intelligence gathered from the first tender concluded Monday last week of rubies from the Montepuez Project in Mozambique.

The results of this assessment will play a key role in determining Mustang's future operational and marketing strategies.

Mustang said that the strategies will also reflect the feedback received regarding ruby categories and volumes.

The company expects to update the market in this regard within the next two weeks.

READ NOW: Mustang Resources completes inaugural rough ruby tender

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