Mayur Resources (ASX:MRL): a billion-dollar business in the making
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Mayur Resources (MRL) has been flying under the radar as it meticulously works to build up its string of valuable Papua New Guinea-based mining assets
The company recently raised $5.5 million in November to keep advancing its flagship Central Cement and Lime (CCL) project, which is now fully permitted and shovel-ready
At the same time, the company is spinning out some key copper-gold assets to list them on the TSX Venture Exchange
According to Managing Director Paul Mulder, demand for quicklime is set to soar as the world increases nickel and copper use
XIB I Capital Corp.: XIB And Mayur Resources Announce Closing of Concurrent Financing of Subscription Receipts
XIB ) is pleased to announce that Adyton Resources Finance Company Ltd. (
Adyton Financeco ) has closed its previously announced brokered private placement financing (the
Concurrent Financing ). Under the Concurrent Financing, Adyton Financeco issued and sold 28,758,886 subscription receipts (the
Subscription Receipts ) for aggregate gross proceeds of $8,627,665.80. A syndicate led by Eight Capital and including Cormark Securities Inc., PI Financial Corp. and Jett Capital Advisors, LLC (collectively, the
Agents ) acted as agents for the Concurrent Financing.
The gross proceeds from the Concurrent Financing (less an amount equal to 50.0% of the Agents Commission (as defined below) and less the costs and expenses of the Agents in connection with the Concurrent Financing up to the closing time) (the
Mayur Resources (ASX:MRL) lodges Orokolo Bay lease application
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Mayur Resources (MRL) has progressed its Orokolo Bay Project by officially lodging a mining lease application for the asset
Orokolo Bay is located in Papua New Guinea and represents one of the country s first iron and industrial minerals projects
Mayur is planning to produce vanadium titano-magnetite (VTM), dense medium separation magnetite, high-grade silica construction material and zircon rich heavy mineral concentrate
The company will now await for project approval from the PNG Government, stating the application was the final step to making Orokolo Bay shovel-ready
Opponents of plans to start a coal industry in Papua New Guinea are planning to protest today s AGM of Australian miner, Mayur Resources, in Brisbane.
Mayur wants to mine coal on PNG s south coast and transport it to Lae where it plans to build a coal-fired power station.
Such a move would make PNG the first Pacific nation to have a coal industry, and comes amid strong regional opposition to Australia s involvement in such an industry.
Photo: Minerals West Coast
Mayur has previously dismissed concerns that have raised about the pollution generated by mining and coal fired power stations.
But a member of the Nogat Coal campaign, Samantha Kuman, said PNG does not need coal-fired power.