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MUS, MUSTANG RESOURCES
blacksheep
post Posted: Feb 9 2019, 11:47 AM
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In Reply To: blacksheep's post @ Jul 16 2018, 09:33 PM

After the "ruby" disaster, MUS sold off its ruby interests for A$2.8 million in cash then changed it's name to New Energy Minerals Limited - ASX NXE. NXE then raised capital to "fast track" their graphite/vanadium project - Mr Ching was "attracted" to this project as per their ann dated 6 November 2018 - extract below. On Friday 8 February 2019, NXE announced they'd entered into a Agreement to sell remaining 50% of Balama Resources Pty Ltd, owners of Caula vanadium/graphite project to Mr Ching and his company - aptly named"Auspicious Virtue Investment Holding Limited" Mr Ching's plans for NXE going forward.....rinse and repeat by looks of things sadsmiley02.gif just IMHO Not sure there will be much left over for existing shareholders particularly if the Arena dispute turns ugly.

QUOTE
Our plan is for NXE to retain its ASX-listed status as an explorer and developer of mineral interests and for
NXE to be adequately funded going forward. A review of potential mineral interest acquisition opportunities is
already underway.
Further announcements concerning future project opportunities and the status of the Arena
dispute will be made as and when required.


QUOTE
Dr. Bernard Olivier, Managing Director of New Energy Minerals commented: "This Agreement is an important step forward for NXE in fast-tracking the world-class Caula Vanadium-Graphite project towards development. Mr. Ching's access to both debt and equity capital throughout Asia, coupled with his extensive experience in commodity trading, will significantly assist in financing the Caula Project, but also in securing offtake agreements in the short term once the project is in production. The Company welcomes Mr. Ching as a strategic investor in New Energy Minerals and looks forward to working with him to move the Caula project into early cashflow."

Mr.Louis Ching director and controlling shareholder of UBezTT International Investment Holdings commented: "We are very excited to make this strategic investment in New Energy Minerals and the Caula Vanadium-Graphite project. We were attracted to this investment by what we believe is a unique opportunity to achieve near-term production of vanadium and graphite, as well as by the quality and experience of the NXE Board and Management team. We look forward to working closely with the Board to bring our extensive commodity trading experience and networks in Asia to this project."


QUOTE
SUMMARY
 New Energy has entered into a binding Share Sale and Purchase
Agreement (SSPA) with Auspicious Virtue Investment Holding Limited
for the sale by New Energy of all its remaining shares in Balama
Resources Pty Limited.
On completion of the SSPA, Auspicious Virtue Investment Holding
Limited, an investment vehicle owned by Mr Louis Ching, will be the
sole shareholder of Balama, holding 100% of the shares on issue.

 Balama is the subsidiary company through which New Energy has
held its interest in the Caula graphite and vanadium project. Following
completion of the SSPA, New Energy will have no further interest in
the Caula project.
 As part of the sale transaction, New Energy has agreed to conduct an
equal access Capital Reduction, under which the Company will
provide a return of capital to its shareholders, of an aggregate amount
being not less than 60% of the Purchase Price less the costs incurred
by the Company, in executing and completing the sale transaction.
 The SSPA is subject to a number of conditions precedent including a
favourable assessment by an Independent Expert and approval of the
SSPA by New Energy Shareholders.
 Although the Board of New Energy Limited is confident about the
outcome of its dispute with Arena, the sale of Balama under the SSPA
mitigates risks for shareholders from the dispute.


NXE SP down 18.39% @ 4c at the close on Friday
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jul 16 2018, 09:33 PM
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Looks like MUS is selling it's ruby assets - MUS is currently in a TH

QUOTE
Fura to merge Montepuez ruby assets with Mustang and Regius – Mozambique

Fura Gems Inc. (“Fura” or the “Company”) (TSXV:FURA) (OTC:FUGMF) (FRA:BJ43), a new gemstone mining and marketing company with emerald and ruby assets in Colombia and Mozambique, respectively, is pleased to announce it has entered into a merger of ruby assets agreement, pursuant to which the Company will acquire controlling ownership in the issued and outstanding shares of entities and interests in joint ventures that collectively own interests in nine additional ruby licenses (collectively, the “Assets”) in the Montepuez District of Cabo Delgado province in Mozambique (the “Acquisition”).

Key Highlights:

• Acquisition of nine ruby assets in Mozambique from ASX listed Mustang Resources Ltd (“Mustang”) and Regius Resources Group Ltd (“Regius”) for a total consideration of A$15 million (approximately C$14.6 million), payable in A$3m (approximately C$3 million) cash and approximately 12.7 million Fura shares on the schedule below;

• On completion of the Acquisition, Fura will hold the largest ruby land package in Mozambique of 1,104 sq. km;

http://clubofmozambique.com/news/fura-to-m...ius-mozambique/
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
bg99
post Posted: Nov 23 2017, 10:00 AM
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In Reply To: blacksheep's post @ Nov 23 2017, 09:31 AM


My sentiments exactly...... thought you would appreciate that. This case is so obvious and I got caught in it, so my humour is a bit dented.
Yes I dont follow HC for those reasons, though I could be seen as a HCerite given I posted some favourable posts on their prospects, as
I will trade spec stocks. Looks as risky as ever to do so though. I dont see how a JORC graphite resource can be defined on just 6 drill holes either.

 
blacksheep
post Posted: Nov 23 2017, 09:31 AM
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In Reply To: bg99's post @ Nov 23 2017, 09:13 AM

QUOTE
as this could disrupt an orderly market.


If it wasn't so serious, one would have to chuckle at that comment. What was "orderly" in the pump to 20c and then the dump that followed?

This is not the only stock - way too many being pumped to ridiculous levels for the stage they're at. But those chasing these type of stocks need to be aware of the risks and not just focus on possible rewards.

Usually the most discussed stocks, rising at top speed, on HC are the ones to look out for - they end up being the most discussed later for all the wrong reasons. Just all IMHO.



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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
bg99
post Posted: Nov 23 2017, 09:13 AM
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In Reply To: blacksheep's post @ Nov 2 2017, 07:24 PM


ASIC have acknowledeged my complaints, but have said they cant ever disclose any information to me about investigations as this could disrupt an orderly market.

I guess the only way to really know what punitive actions might occur would be to take legal action....... we are certainly still miles away from orderly markets based on this stock.


 
blacksheep
post Posted: Nov 13 2017, 10:03 AM
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In Reply To: bg99's post @ Nov 13 2017, 09:31 AM

Wonder if he was pushed?

Never liked this operation - particularly their reported partners. I think I posted this before - HOW AFRICAN STATES GET SCREWED
https://www.news24.com/Africa/News/togos-gu...le-too-20171014



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 


bg99
post Posted: Nov 13 2017, 09:31 AM
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In Reply To: blacksheep's post @ Nov 13 2017, 09:17 AM

like the skipper of the Costa Concordia


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blacksheep
post Posted: Nov 13 2017, 09:17 AM
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In Reply To: blacksheep's post @ Nov 4 2017, 12:14 PM

More problems for this one - >>

QUOTE
Christiaan Jordaan has resigned as Managing Director
for personal reasons and now serves as a Non-Executive
Director


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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 4 2017, 12:14 PM
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In Reply To: nipper's post @ Nov 4 2017, 07:42 AM

QUOTE
... he went on to say "just because we did bugger-all, it doesn't mean we did nothing".
lmaosmiley.gif

That should be comforting to investors who lost their money. What a joke they are - you'd expect better from them, but alas not the case.



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Nov 4 2017, 07:42 AM
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QUOTE
The Australian Securities Exchange says it will not reverse recent trades in Mustang Resources, leaving investors who bought shares in the stock when it should not have been trading to cop a 60 per cent bath on their position.

An ASX spokesman said the onus was on companies to check that the exchange had received a trading halt request. Despite the unusual circumstances around Monday's trade, he said the day's transactions would stand.

"There were no requests to cancel from participants, the activity was within the stock's allowable trading range, and the trading was orderly," the spokesman said.
... he went on to say "just because we did bugger-all, it doesn't mean we did nothing".



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

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