viewNew Energy Minerals Ltd

New Energy Minerals enters trading halt ahead of funding details

Shares in the company last traded at 7.3 cents before being halted.

asx electronic board
The company recently changed its name and ticker from Mustang Resources Ltd (ASX:MUS)

New Energy Minerals Ltd (ASX:NXE) has been granted a trading halt by the ASX pending the release of details regarding a material funding arrangement.

Shares in the company will remain halted until the earlier of, either, the release of relevant information, or the commencement of trading on Thursday 1 November 2018.

READ: New Energy Minerals' scoping study reveals exceptional economics for Caula Vanadium Graphite Project

Last week, New Energy received scoping study results for its 80%-owned Caula Vanadium Graphite Project in Mozambique.

The study forecast a post-tax net present value (NPV) of US$448.76 million or A$619.29 million for the proposed 26-year life.

Quick facts: New Energy Minerals Ltd

Price: 0.012 AUD

Market: ASX
Market Cap: $2 m

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