Junior explorer to acquire two additional tenements near Mozambique graphite project

ASX-listed Mozambique-focused junior Mustang Resources has exercised the option to acquire the rights to 90% and 95% interests in two additional exploration licences covering 205 km2 to the north of the company’s existing Balama graphite project, in Mozambique. Completion of the acquisitions from exploration company Regius Resources Group was subject to a $50 000 payment by April 15, the company said in a statement earlier this month.