Mayur Resources Ltd managing director Paul Mulder sat down with Proactives Andrew Scott to discuss the companys 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 Mayurs 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 CLPs 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."
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View source version on newsdirect.com: https://newsdirect.com/news/mayur-resources-strong-newsflow-highlights-central-lime-project-potential-817933931
MAYUR RESOURCES LIMITED
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