Mayur Resources̢۪ strong newsflow highlights Central Lime Project potential
November 27, 2023 at 11:01 am EST
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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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Mayur Resources Limited is focused on the development of natural resources and renewable energy in Papua New Guinea. Its diversified asset portfolio spans iron and industrial sands, lime and cement, nature-based carbon offsets and renewable energy. The Company operates through three segments: Mayur Renewables, Mayur Cement and Lime, and Ortus Resources. Mayur Renewables develops its portfolio of nature-based forestry carbon credit projects (totaling around 1.4 million hectares), involving the reclassification, protection and preservation of the pristine and biodiverse threatened rainforest. Mayur Cement and Lime include the Central Cement & Lime Project, which is a vertically integrated manufacturing facility. Ortus Resources segment includes Orokolo Bay Iron and Industrial Sands Project, which produces several products including a vanadium-titanomagnetite concentrate, construction sand and a zircon-rich valuable heavy mineral concentrate (DMS).
MAYUR RESOURCES LTD 
