Mustang’s shares rise on high-grade Mozambique graphite discovery

Australian ruby miner Mustang Resources’ share price on the ASX surged on Monday morning, after the company announced it had made a high-grade graphite discovery at its Caula project, in Mozambique. “This high-grade graphite will enable us to generate a top-quality product at a relatively low cost, increasing margins and providing protection against any price volatility,” MD Christiaan Jordaan said in a statement.