Mustang Resources (ASX: MUS) announced that following a recently completed review of its sales and marketing strategy, the Company has decided to implement a series of measures which better reflect the current exploration and development status of its Montepuez Ruby Project in Mozambique.
The review was initiated and overseen by Mustang’s new Managing Director, Dr Bernard Olivier, who has more than 18 years’ experience in the exploration, mining and marketing of coloured gemstones.
In light of the review’s findings, Mustang has decided to close its sales facilities in Mauritius.
These facilities were designed to enable Mustang to undertake large-scale auctions. However, given Mustang’s current production levels, they are no longer considered suitable.
Mustang has now established a sales and marketing office in Chanthaburi, Thailand. This facility is markedly smaller and lower-cost than that in Mauritius and more in line with the Company’s emphasis on project and ruby market development and ongoing market research.
As part of this revised approach, Mustang’s ruby inventory of 333,184 carats that was stored in both Mauritius and in Mozambique has now been relocated to the Chanthaburi office where it will be re-parcelled and prepared for sale as part of an ongoing sales and market development process.
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