Over the past several years, Mustang has been engaged in the business of advancing its geothermal assets in the State of Nevada and Country of Peru. The company actively pursued conventional and alternative capital financing to fund the development of its properties, but has been unsuccessful due to changing conditions within the industry and other factors beyond the control of the company. In early 2012, management determined that the company's prospects for financing it's geothermal assets were not likely to improve in the foreseeable future and, as a result, began investigations into other business opportunities that fell within the purview of its business profile and classification.
The company will now focus on gold exploration through acquisition of North Homestake Mining Company.
