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Mustang Resources' managing director transitions to non-executive director

Mustang has commenced a search for a new managing director.

Mustang is the only listed ruby producer

Mustang Resources Ltd (ASX:MUS) has outlined this morning that Christiaan Jordaan has resigned as managing director for personal reasons and now serves as a non-executive director.

Mustang chairman Ian Daymond becomes the interim executive chairman until a new managing director is appointed, and the board has commenced a search.

Daymond commented: "Mustang has been transformed under Christiaan’s leadership.

"He has worked successfully and incredibly hard on advancing the company’s mineral projects.

"On behalf of the board, I thank Christiaan for his immense efforts and dedication to Mustang Resources.

"The company continues to receive valuable feedback from the first ruby auction and plans to make a further announcement later this week regarding future ruby exploration and marketing strategies."

Jordaan added: "I am proud to have led Mustang Resources as it grew from a junior exploration company to becoming a new entrant in the ruby sector in such a very short period and to having one of the world’s highest grade graphite projects, the Caula Graphite Project, with the recently announced maiden JORC Inferred Mineral Resource."

READ NOW: Mustang Resources reveals high-grade maiden graphite resource

Quick facts: New Energy Minerals Ltd

Price: 0.007 AUD

Market: ASX
Market Cap: $1.2 m

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