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US fund backs ruby miner

Emerging ruby producer Mustang Resources has raised A$8.5 million (US$6.8 million) from a convertible note, which according to the ASX-listed company ensures it’s fully funded through to its first sale of stones in October.

US fund backs ruby miner US fund backs ruby miner US fund backs ruby miner US fund backs ruby miner US fund backs ruby miner

The convertible notes have a face value of $10 million and have been secured with Arena Investors, said to be a US institutional investor with US$600 million in assets under management.

The A$8.

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