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New Energy Minerals enters trading halt ahead of funding details

Published: 12:06 30 Oct 2018 AEDT

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.

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