Mustang resources have announced intentions to fine-tune its operational strategy.
The new blueprint includes temporary suspension of artisanal miner development programme (amdp)..
Mustang has also launched a review into the future of its operational and marketing strategies, after only 29 463 ct of rubies, from 405 000 ct on offer, were sold at its inaugural tender.
The miner plans to put in place a number of actions, including refining the ruby grading system based on buyer feedback and re-grading the current ruby inventory.
Meanwhile, mustang would also suspend bulk sampling activities at the onset of the wet season, with preference being given to processing surface stockpiles, which were currently estimated to host about 96 000 t.
The exploration emphasis would also shift towards lower-cost manual test pitting in order to establish a greater number of potential bulk sample test pit sites, while mustang would also look to acquire prospective exploration tenements in the montepuez ruby field.
Mustang maintains that its Montepuez gem field had world-class ruby prospectivity, and that this, combined with the continued demand growth for rubies, warranted the continuation of the exploration programme.
The company said that its strategy with respect to its ruby projects would remain unchanged, and its intention was to continue exploration on the current project area through test pitting, drilling and bulk sampling to sell recovered rough rubies to generate cash flow to support ongoing exploration and development costs.
