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MAYUR RESOURCES LIMITED (MRL)

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ASX, Legal & CGT Status

Former (or subsequent) names

 

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Our website ranking of MRL: rating 2
(2 out of 5)
COMPANY WEBSITE:

 

REGISTRY:

Automic Group
Level 5, 191 ST GEORGES TERRACE PERTH WA 6000
Tel : +61 (2) 8072 1400 or 1300 288 664 (within Australia)
RegistryWebsite RegistryEmail

Company details

ISIN: AU000000MRL9
Address: Level 7, 300 Adelaide Street BRISBANE 4000 Australia
Tel:  07 3157 4400

Date first listed: 21/09/2017
Company Secretary: Kerry Parker
Sector: Materials 
Activities: Acquiring, exploring and developing mineral and energy development opportunities in Papua New Guinea and neighbouring countries

News & Events

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The suspension of trading in the securities of Mayur Resources Limited will be lifted immediately following the release by MRL of an announcement regarding a transaction in relation to MRL's Orokolo Bay Project.

23/01/2024

The company releases a notice of proposed issue of securities.

23/01/2024

The company has finalised the funding structure with its partners on the Orokolo Bay Mineral Sands project in Gulf Province of PNG having executed a series of legally binding contractual agreements with PT SEA First Nickel Industry. The executed contractual agreements cover the full funding of the Orokolo Bay project, entailing the construction and operation by PTSFNI of the Orokolo Bay Mineral Sands project. In return PTSFNI shall be provided a 51% equity stake in the project.

23/01/2024

The company releases an updated overview of the Orokolo Bay Definitive Feasibility Study. The refinements are as follows: Updated product pricing consensus forecasts for Iron ore, zircon concentrate, construction sands and DMS. Reviewed AUD/USD exchange rates. Reviewed shipping rates from PNG to China (Mag Conc and Zircon Concentrate) and Australia (DMS and Construction Sand). Reviewed project timing, capital expenditure and capital phasing. Mining and Reserves remain unchanged from the September 2020 DFS (i.e. 5 Mtpa (ROM) mining operation).

23/01/2024

The securities of Mayur Resources Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of MRL, pending the release of an announcement regarding a transaction in relation to MRL's Orokolo Bay Project.

22/01/2024

The suspension of trading in the securities of Mayur Resources Limited will be lifted immediately following the release by MRL of announcements regarding the progress on the equity financing and a capital raising.

08/11/2023

The company announces a financing package of $10 million from a consortium of professional and sophisticated investors, comprising a $9.25 million covenant-light loan facility and a $0.75 million share placement. The funds are to be primarily used to continue advancing the pioneering works at Mayur's Central Lime Project - particularly completing the wharf so it is capable of generating early cashflows next year through the sale of raw high-grade limestone. Mayur intends to use the balance of funds to settle and discharge its existing convertible note facility with Obsidian Global Partners and for general working capital purposes to further advance its Central Lime Project with Vision Blue, also announced this week, towards first revenues and through to final construction.

08/11/2023

US$90 million total debt funding package 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. Funding is priced at competitive terms and tenor. Combined with the US$40 million equity investment in the CLP by Vision Blue Resources, this debt will see the CLP fully funded. The phase one "˜base case' CLP is expected to produce an annual EBITDA exceeding US$25 million whilst generating hundreds of jobs. The CLP will be a major import displacer for PNG being its first downstream processing resource industrial manufacturing hub that will also become the nearest import source of Quicklime, hydrated lime and crushed lime stone for Australia. The Term Sheet is subject to a number of conditions precedent which are customary for a transaction of this nature including confirmatory due diligence.

08/11/2023

The company releases a notification of cessation of securities.

07/11/2023

The extension to the voluntary suspension is requested by Mayur to allow for sufficient time for Mayur to finalize aspects of its Head Co fundraising, and to conclude specific arrangements relating to the announcement of a debt / project finance Term Sheet for Central Lime Project. Mayur requests that the voluntary suspension remain in place until the earlier of announcements to the market in relation to the transactions, or the commencement of trading on Wednesday, 8 November 2023.

07/11/2023

Vision Blue executes Investment Agreement, subject to the satisfaction of certain conditions, to invest US$40 million for a 49% equity share in Mayur's CLP in Papua New Guinea. Proposed Investment would satisfy the CLP's total equity funding component to complete project development and construction, implement onsite carbon reduction initiatives, and enter commercial production. Mayur and Vision Blue are working together to secure debt financing of between US$70-90 million "“ with funding at the higher end of that range accelerating the expansion of the CLP beyond its "˜base case'. Construction of the CLP's wharf infrastructure commenced earlier this year which will potentially allow for early cash flow generation in 2024 through the sale of high-grade limestone. In addition to being a major import displacer, the CLP will create hundreds of jobs nearly immediately, and will also be PNG's first downstream processing resource manufacturing hub.

06/11/2023

The securities of Mayur Resources Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of MRL, pending the release of an announcement regarding the equity financing arrangement with Vision Blue Resources and a capital raising.

03/11/2023

The suspension of trading in the securities of Mayur Resources Limited will be lifted immediately, following the release by MRL of an announcement regarding the spin out of MRL's Gold and Copper Assets.

25/02/2021

The company has successfully listed its copper and gold assets in Papua New Guinea on the TSX-Venture Exchange in Canada as Adyton Resources Corporation. The spin out saw more than C$10.5 million raised via a syndicate of northern hemisphere banks which valued Adyton at circa C$38 million. Shares in ADY commenced trading on the TSXV on 24 February, in a range between C$0.26 to C$0.40.

25/02/2021

The securities of Mayur Resources Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of MRL, pending the release of an announcement regarding an announcement regarding the finalisation of the spin out of MRL's copper and gold assets.

23/02/2021

The suspension of trading in the securities of Mayur Resources Limited will be lifted immediately following the release by MRL of an announcement regarding the corporate project investment in a subsidiary of MRL.

07/01/2019

The company has secured up to US$25 million in funding from Titanium Resources Holdings Limited for a 49% stake in MR Iron PNG. MIPP is a 100% owned subsidiary of MRL and holds the Orokolo Bay Project as part of a highly prospective industrial mineral sands portfolio in PNG. Legally binding term sheet signed with definitive transaction documents expected to be completed by end of January 2019. CTRH has secured exclusivity and made a legally binding commitment to co-fund the Orokolo Bay Pilot Plant and fund the Full-Scale Operation up to US$25 million.

07/01/2019

The securities of Mayur Resources Limited ("˜MRL') will be suspended from quotation immediately under Listing Rule 17.2, at the request of MRL, pending the release of an announcement regarding a proposed corporate project investment in a subsidiary of MRL

28/12/2018

listed entity carried for record purposes only

21/09/2017

 

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    Click here for free access to this company's:
    ASX, Legal & CGT Status

    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNUMBERPRICEAMOUNT
    12/04/2023Craig Ransley-15,000,000$0.192
    CDI
    $2,878,500
    23/11/2021Charles Fear48,731$0.185$9,015
    17/11/2021Charles Fear51,269$0.183$9,403
    12/11/2021Charles Fear26,668$0.180$4,800
    10/11/2021Charles Fear173,332$0.185$32,075

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Richard PegumExecutive Chairman29/11/2023
    Paul MulderManaging Director
    Kerry ParkerCFO06/10/2021
    Chris IndermaurNon Exec Director16/09/2021
    Tim CrossleyExecutive Director
    Musje WerrorExecutive Director17/01/2024
    Wong ShyanDirector07/11/2023

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Charles FearNon Exec Chairman16/09/202122/12/2023
    Benjamin HweiDirector16/09/202207/11/2023
    Craig RansleyDirector12/10/202230/04/2023
    Choo WeeNon Exec Director04/11/202016/09/2022
    Hubert NamaniNon Exec Director16/09/202001/08/2022
    Frank TerranovaNon Exec Director16/09/2021
    Robert NealeNon Exec Chairman28/05/2021
    Lu HongNon Exec Director25/09/201804/11/2020
    Paul McTaggartIndependent Director30/01/2019
    Lee HsiungNon Exec Director17/07/201725/09/2018

    Date of first appointment, title may have changed.