Total
0
Shares
Mayur Resources (ASX:MRL) - Managing Director, Paul Mulder
Managing Director, Paul Mulder
Source: The Market Herald
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Mayur Resources (MRL) receives letters of support for lime products from its Central Cement and Lime (CCL) Project in Papua New Guinea
  • Potential customers have shown their support for up to 266,000 tonnes per annum (tpa) of quicklime and hydrated lime products
  • Mayur also receives an expression of interest to supply up to 700,000tpa of high-grade limestone to an undisclosed end user in the Pacific region
  • MRL says the interest and support represents demand for new sources of lime products and it will aim to convert the support into binding sales deals
  • Company shares ended the day trading steady at 16.5 cents

Mayur Resources’ (MRL) customers have confirmed their support for lime products from its Central Cement and Lime (CCL) Project in Papua New Guinea.

Papua New Guinea and Australia-based customers, such as blue chip end users and traders, sent letters of support for up to 266,000 tonnes per annum (tpa) of quicklime and hydrated lime products.

The company also received an expression of interest to supply up to 700,000 tonnes of high-grade limestone per annum to a large end user in the Pacific region.

In addition, Mayur is progressing discussions for further volumes of lime products and will update the market if these also lead to letters of support.

Chief Operating Officer Trent Alexander said the interest and support represented a market demand for new sources of lime products.

“Mayur’s CCL Project offers a large, high-quality limestone resource and an advantageous coastal location enabling the production of competitively priced products,” Mr Alexander said.

“We see a further future demand for lime products being driven by growth in various sectors including gold and battery metals processing, water treatment and other environmental applications.”

Lime has a wide variety of uses and applications in water treatment, mineral and metallurgical processing, construction and civil engineering, chemical and industrial manufacturing, agriculture and crops, and lime and battery minerals.

Mayur will now aim to convert the customer support into binding sales agreements. The 266,000tpa represents around 67 per cent of the planned 400,000tpa of quicklime capacity for phase one of the CCL Project.

The interest feeds into the phase definitive feasibility study (DFS) which aims to double the 200,000tpa quicklime capacity outlined in the original DFS.

Company shares ended the day trading steady at 16.5 cents.

MRL by the numbers
More From The Market Herald

" Beacon Minerals (ASX:BCN) declares fully franked dividend

Beacon Minerals (BCN) has declared a fully franked dividend of 0.125 cents per share.

" Alchemy’s (ASX:ALY) subsidiary wins tenement ballots at Lake Rebecca

Alchemy Resources’ (ALY) subsidiary, Goldtribe Corporation, has won ballots for three exploration licence applications within ALY’s Lake Rebecca Project in Western Australia.

" Tigers Realm Coal (ASX:TIG) recounts positive September quarter

Tigers Realm Coal (TIG) has released its quarterly report for the three months ending September 30.

" Chase Mining’s (ASX:CML) Red Fox applies for more tenements in Queensland

Chase Mining’s (CML) 40 per cent-owned company Red Fox Resources has applied for another three exploration permits in northwest Queensland.