Mayur Resources̢۪ strong newsflow highlights Central Lime Project potential
November 27, 2023 at 11:01 am
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Mayur Resources Ltd managing director Paul Mulder sat down with Proactive’s Andrew Scott to discuss the company’s significant newsflow from the past month. Mulder outlines the Investment Agreement with Vision Blue Resources for a proposed investment of US$40 million for a 49% equity share in Mayur’s Central Lime Project (CLP). He also discusses the recent exclusive non-binding term sheet with Appian Capital Advisory to fund the CLP. This US$90 million total debt funding package is to be made available with US$70 million drawn initially to support the CLP’s ‘base case’ of 400,000 tonnes of Quicklime per annum and a further US$20 million available for quicklime kiln expansions. Finally, the company secured a financing package of $10 million from a consortium of professional and sophisticated investors. Funds are to be primarily used to continue advancing works at the CLP - particularly completing the wharf so it is capable of generating early cashflows next year through the sale of raw high-grade limestone.
At the time of the Vision Blue announcement, Mulder said "We are thrilled to partner with Vision Blue on the Central Lime Project. Vision Blue recognises the pivotal role the Central Lime Project can play in meeting the escalating demand for Lime across various environmental and renewable energy sectors. Their Proposed Investment is a testament to the value and potential of this project both from a commercial perspective and for the immense benefits it will bring to local landowners and the PNG domestic economy.
“The enhancement of living standards and benefits for local landowners remain at the forefront of our mission. We look forward to continuing our relationship with the team at Vision Blue and are confident in the mutual success this partnership will bring."
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
jonathan@proactiveinvestors.com
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Copyright (c) 2023 TheNewswire - All rights reserved., source Press Releases
Mayur Resources Limited is focused on the development of natural resources and renewable energy in Papua New Guinea. The Companyâs business units include Industrial Minerals, Iron and Industrial Sands, Coal and Power and Renewable Energy. Its Industrial Minerals include the Central Lime Project. Iron and Industrial Sands includes construction sands, magnetite sands, heavy mineral sands, and industrial sands. The focus of this business unit is the development of the Orokolo Bay Industrial Sands Project located along the southern coast of Papua New Guinea. Coal and Power comprising the Depot Creek coal resource in the Gulf Project of Papua New Guinea and is developing a proposal for vertically integrated domestic power projects in Papua New Guinea with a focus on the Lae region. Renewable Energy includes the development of a portfolio of renewable energy opportunities in Papua New Guinea with interests in nature-based forestry carbon credits, large scale solar, battery and geothermal.