Mayur Resources has announced a new potential financing transaction for the project.
Articles can be saved for quick future reference. This is a subscriber benefit. If you are already a subscriber, please log in to save this article. If you are not a subscriber, click on the View Subscription Options button to subscribe. 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, which will have a capacity of 600 000 t/y of quicklime and 700 000 t/y of limestone.Mayur Resources executed definitive debt financing agreements with Appian Capital Advisory for about $115-million in April 2024. This financing, combined with Vision Blue Resources’ proposed equity investment in the project of $40-million, announced in November 2023, will result in the project being fully funded.
The company signed a nonbinding exclusive term sheet with global investor ACAM for a proposed $50-million investment. This will replace the $40-million in funding that VBR would have invested for a 49% equity share in the CLP. Mayur also announced a A$5-million placement to existing sophisticated investors to fund Stage 2 and part of Stage 3 wharf facilities for CLP. This will provide the CLP with commercial-scale wharf infrastructure, enabling opportunity for early cashflow opportunities from raw limestone production in 2024.SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...
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