Mustang MD steps aside

PERTH (miningweekly.com) – The MD of ruby miner Mustang Resources, Christiaan Jordaan, has handed in his resignation, effective immediately.

The company on Monday told shareholders that Jordaan’s decision to resign was a personal one, and had reluctantly been accepted by the company’s directors.

While no longer acting as MD, he would remain a nonexecutive director of the Mustang board.

Chairperson Ian Daymond has agreed to act as interim executive chairperson until a new MD can be appointed, and Mustang told shareholders that the search for a new candidate has already started.

Mustang recently announced that it would review its operational and marketing strategies following disappointing results from its first ruby tender, which saw only 8 out of 21 bid schedules sold.

“The company continues to receive valuable feedback from the first ruby auction and plans to make a further announcement later this week regarding future ruby exploration and marketing strategies,” Daymond said.