Mayur upsizes placement to A$100m
ASX-listed Mayur Resources has secured firm commitments for an expanded A$100-million two-tranche institutional placement, up from its previously announced A$80-million.
The first tranche raised A$29.8-million, while the second tranche – subject to shareholder approval – is expected to raise A$70.3-million.
“The significant demand received from new and existing investors, which has allowed us to upsize this placement, is a testament to the high-quality nature of the Central Lime project and represents a strong endorsement of our team and development strategy,” said chairperson Richard Pegum.
He added that the funds raised from the placement, together with a proposed $115-million Appian debt financing, ensured that the company was fully funded for the development of Stages 1 and 2 of the Central Lime project, in Papua New Guinea.
In total, this includes the construction of four kilns and is forecast to deliver a yearly run-rate earnings before interest, taxes, depreciation and amortisation of $70-million.
“The company looks forward to ramping up construction of the Central Lime project over the coming months and delivering on its promise to successfully develop and commission the Central Lime project, both on time and within budget,” said Pegum.
The Central Lime project will be Asia Pacific’s first carbon-neutral quicklime, clinker and cement project for supply to Papua New Guinea, Australia and the South Pacific at much lower costs than Asian exporters.
The project is aiming for a base case nameplate production capacity of 400 000 t and will be developed in two phases.
Phase 1 will involve the construction of the quicklime plant, with a capacity of 600 000 t/y of quicklime and 700 000 t/y of limestone. Phase 2 will involve the development of clinker and cement facilities producing 820 000 t/y and 900 000 t/y respectively.
Comments
Research Reports
Projects
Latest News
Showroom
Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.
VISIT SHOWROOM
Tractor & Grader Supplies (TGS™): Your Trusted, Genuine Source for New Replacement Parts for Earthmoving, Construction and Mining Machinery
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
