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New 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.

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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: $0.02

Market: ASX
Market Cap: $3.67 m
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Mustang Resources shifts focus to graphite and vanadium

Vanadium is another metal that has in the past received little attention but has undergone a huge price surge over the past two years, as China tightens its standards around the strength of steel and the battery revolution continues. Mustang Resources (ASX: MUS) is an Australian listed...

on 26/7/18

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