New Risk • Mar 17
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$40m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$40m free cash flow). Shareholders have been substantially diluted in the past year (60% increase in shares outstanding). Revenue is less than US$1m. Announcement • Sep 27
Pacific Lime and Cement Limited, Annual General Meeting, Dec 18, 2025 Pacific Lime and Cement Limited, Annual General Meeting, Dec 18, 2025. Location: an on-line, Australia New Risk • Jun 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 9.8% per year over the past 5 years. Shareholders have been substantially diluted in the past year (111% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Revenue is less than US$5m (AU$2.0m revenue, or US$1.3m). New Risk • Apr 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 9.8% per year over the past 5 years. Shareholders have been substantially diluted in the past year (101% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Revenue is less than US$5m (AU$2.0m revenue, or US$1.2m). New Risk • Apr 10
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 101% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 9.8% per year over the past 5 years. Shareholders have been substantially diluted in the past year (101% increase in shares outstanding). Minor Risks Revenue is less than US$5m (AU$2.0m revenue, or US$1.2m). Market cap is less than US$100m (AU$157.2m market cap, or US$97.3m). Announcement • Apr 02
Mayur Resources Limited Provides an Update on the Construction Progress At the Central Lime Project, Located in Papua New Guinea Mayur Resources Limited provided an update on the construction progress at the Central Lime Project (CLP), located in Papua New Guinea. Development activities continue, with significant milestones achieved in wharf construction, site preparation, and early infrastructure works. The Company continues to de-risk the Project through strategic Engineering, Procurement, and Construction (EPC) contract negotiations, reinforcing cost certainty ahead of major construction activities. Wharf Stage 2 - Sheet piling installation complete at Roll-On/Roll-Off (Ro/Ro) ramp; finger wharf with forecast completion in early second quarter 2025. Wharf Stage 3 - Operability study finalised; concept design completion targeted for early second quarter 2025. Early Works - Construction is underway for a fuel storage area, site accesses, and community infrastructure. Civil Design Complete - Bulk earthworks scheduled to commence following Final Investment Decision (FID). Service Road - 27.6km design concept finalised; bridge abutment geotechnical investigations planned for second quarter 2025. Wharf Construction Progressing as Planned. Stage Two of wharf construction is underway, and all sheet pile materials have been delivered to site. Installation of the Ro/Ro ramp and the finger wharf is progressing well and is forecast to be completed early Quarter 2 2025. Following the Wharf Stage 3 operability study, the concept design phase is progressing as planned, with finalisation expected this month. This marks another key milestone in establishing a multi-purpose bulk and containerised cargo wharf ensuring its long-term capacity. Early Works and Site Preparation Continue. Early construction activities continue across multiple infrastructure areas, including: Development of the fuel storage facility; Upgrades to internal site access routes; and Relocation of the community recreational facilities. With site civil design works now complete, the Project is positioned to commence bulk earthworks immediately following FID. Service Road and Bridge Engineering Advancing. The design of the 27.6km service road, a vital logistics corridor for the Project and a critical transport link for the Kido community, has been finalised. Geotechnical investigations for the two bridge abutments are scheduled for second quarter 2025, with findings to guide detailed engineering and construction works later in this calendar year. Announcement • Feb 22
Mayur Resources Ltd has completed a Follow-on Equity Offering in the amount of AUD 100.1 million. Mayur Resources Ltd has completed a Follow-on Equity Offering in the amount of AUD 100.1 million.
Security Name: Chess Depository Interests
Security Type: Depositary Receipt (Common Stock)
Securities Offered: 189,642,857
Price\Range: AUD 0.28
Discount Per Security: AUD 0.0168
Security Name: Chess Depository Interests
Security Type: Depositary Receipt (Common Stock)
Securities Offered: 167,857,143
Price\Range: AUD 0.28
Discount Per Security: AUD 0.0056
Transaction Features: Subsequent Direct Listing Announcement • Feb 19
Mayur Resources Ltd has filed a Follow-on Equity Offering in the amount of AUD 79.996 million. Mayur Resources Ltd has filed a Follow-on Equity Offering in the amount of AUD 79.996 million.
Security Name: Chess Depository Interests
Security Type: Depositary Receipt (Common Stock)
Securities Offered: 106,500,000
Price\Range: AUD 0.28
Security Name: Chess Depository Interests
Security Type: Depositary Receipt (Common Stock)
Securities Offered: 179,200,000
Price\Range: AUD 0.28
Transaction Features: Subsequent Direct Listing Recent Insider Transactions Derivative • Oct 15
Executive Chairman exercised options to buy AU$1.8m worth of stock. On the 14th of October, Richard Pegum exercised options to buy 6m shares at a strike price of around AU$0.15, costing a total of AU$900k. This transaction amounted to 51% of their direct individual holding at the time of the trade. Since December 2023, Richard's direct individual holding has increased from 11.13m shares to 11.68m. This was the only transaction from an insider over the last 12 months. Announcement • Oct 04
Mayur Resources Ltd, Annual General Meeting, Dec 11, 2024 Mayur Resources Ltd, Annual General Meeting, Dec 11, 2024. New Risk • Sep 25
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$14m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$14m free cash flow). Earnings have declined by 20% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (26% increase in shares outstanding). Revenue is less than US$5m (AU$2.0m revenue, or US$1.4m). Market cap is less than US$100m (AU$117.4m market cap, or US$80.9m). Announcement • Jun 25
Mayur Resources Ltd has completed a Follow-on Equity Offering in the amount of AUD 5 million. Mayur Resources Ltd has completed a Follow-on Equity Offering in the amount of AUD 5 million.
Security Name: Chess Depository Interests
Security Type: Depositary Receipt (Common Stock)
Securities Offered: 9,000,000
Price\Range: AUD 0.2
Security Name: Chess Depository Interests
Security Type: Depositary Receipt (Common Stock)
Securities Offered: 16,000,000
Price\Range: AUD 0.2
Transaction Features: Subsequent Direct Listing Announcement • Apr 26
An unknown buyer acquired 5% stake in Adyton Resources Corporation (TSXV:ADY) from Mayur Resources Ltd (ASX:MRL) for CAD0.3 million. An unknown buyer agreed to acquire 5% stake in Adyton Resources Corporation (TSXV:ADY) from Mayur Resources Ltd (ASX:MRL) for CAD0.3 million on April 22, 2024. Prior to the Disposition, Mayur owned 60.8 million Adyton Shares representing approximately 30.5% of the issued and outstanding Adyton Shares on a non-diluted basis and 28.5% on a fully diluted basis. Following the completion of the Disposition, Mayur owned 50.8 million Adyton Shares representing approximately 25.5% of the issued and outstanding Adyton Shares on a non-diluted ??basis and 23.8% on a fully diluted basis.
An unknown buyer completed the acquisition of 5% stake in Adyton Resources Corporation (TSXV:ADY) from Mayur Resources Ltd (ASX:MRL) for CAD0.3 million on April 23, 2024. Announcement • Mar 15
Mayur Resources Ltd has filed a Follow-on Equity Offering in the amount of AUD 9.5 million. Mayur Resources Ltd has filed a Follow-on Equity Offering in the amount of AUD 9.5 million.
Security Name: Chess Depository Interests
Security Type: Depositary Receipt (Common Stock)
Securities Offered: 47,500,000
Price\Range: AUD 0.2
Discount Per Security: AUD 0.012
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing New Risk • Mar 12
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$11m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$11m free cash flow). Earnings have declined by 30% per year over the past 5 years. Revenue is less than US$1m (AU$49k revenue, or US$32k). Minor Risks Share price has been volatile over the past 3 months (17% average weekly change). Shareholders have been diluted in the past year (14% increase in shares outstanding). Market cap is less than US$100m (AU$77.3m market cap, or US$51.1m). Announcement • Jan 19
Mayur Resources Ltd Appoints Musje Moses Werror as Director Mayur Resources Ltd. announced the appointment of Musje Moses Werror as director. Date of appointment is on January 17, 2024. In his new role, Werror will have a wide range of responsibilities, including the critical task of overseeing government and community relations across Mayur's diverse portfolio of projects. Mr. Werror brings over two decades of leadership experience in the mining and resources sector of PNG. He most notably served as the Managing Director and Chief Executive Officer of Ok Tedi Mining Limited from June 2020 until December 2022. He began his distinguished career at Ok Tedi Mining in 1988 as a graduate and has since held various significant roles, including managing health, safety & environment, mine closure planning, tax credit scheme projects, government affairs and leading community relations in the Western Province of PNG. In addition to his role at Mayur, Mr. Werror is currently serving as an Independent Non-Executive Director at Santos Limited. Past directorships include Oil Search Limited (2021 until merger with STO), Chairman of the Western Province Health Authority and Chairman of the Ok Tedi Development Foundation (2020-2022). Announcement • Nov 29
Mayur Resources Limited Announces Board Changes Mayur Resources Limited announced the appointment of Mr. Richard Pegum as an Executive Director of Mayur effective 29 November 2023. Mayur also advises that current Chairman, Mr. Charles Fear, will retire as a Director at the upcoming 2023 Annual General Meeting (AGM). Upon Mr. Fear’s retirement, Mr. Pegum will be appointed Executive Chairman. Mr. Pegum is a highly accomplished finance and investment professional, bringing a rich legacy of experience to the role. Having started his career at Macquarie Bank, he rapidly advanced to the position of Executive Director (at age 29). His strategic leadership was instrumental in expanding one of the bank's key trading divisions to regions including Hong Kong, South Africa, Japan, Europe and Brazil. He then went on to become the founding Partner of Bennelong Asset Management in the United Kingdom and successfully managed the firm's growth, overseeing assets over $3 billion. Mr. Charles Fear, Mayur’s current Non-Executive Chairman, has advised of his intention to retire as a Director at the conclusion of the 2023 AGM to be held on Friday 22 December 2023. Upon Mr. Fear’s retirement, Mr. Pegum will be appointed Executive Chairman. Mr. Pegum’s appointment as a Director takes effect immediately. He will commence the role of Executive Chairman upon Mr. Fear’s retirement at the 2023 AGM, and will stand for re-election at the same meeting as per the Company’s Constitution. Announcement • Nov 10
Mayur Resources Ltd announced that it expects to receive AUD 0.75 million in funding Mayur Resources Ltd announced a private placement of common shares for the gross proceeds of AUD 750,000 on November 8, 2023. Announcement • Nov 07
Mayur Resources Limited Announces Board Changes, Effective 7 November 2023 Mayur Resources Limited announced the appointment of a new Singapore resident Director, Mr. Wong Fang Shyan, to the Mayur Board, with effect from 7 November 2023. Mayur also announced the resignation of Mr. Benjamin Szeto Yu Hwei as Mayur's Singapore resident Director, with effect from 7 November 2023. The changes have occurred due to personnel changes within Mayur's company secretarial services provider in Singapore. Announcement • Sep 20
Mayur Resources Ltd, Annual General Meeting, Dec 13, 2023 Mayur Resources Ltd, Annual General Meeting, Dec 13, 2023, at 15:00 E. Australia Standard Time. New Risk • Sep 10
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$8.4m free cash flow). Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 45% per year over the past 5 years. Revenue is less than US$1m (AU$2.8k revenue, or US$1.8k). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Shareholders have been diluted in the past year (36% increase in shares outstanding). Market cap is less than US$100m (AU$65.5m market cap, or US$41.7m). Recent Insider Transactions • Apr 12
Executive Chairman recently sold AU$1.3m worth of stock On the 3rd of April, Craig Ransley sold around 7m shares on-market at roughly AU$0.20 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Craig has been a net seller over the last 12 months, reducing personal holdings by AU$830k. Announcement • Nov 29
Mayur Resources Ltd Announces Orokolo Bay Roasting Test Work Confirms Presence of Additional Ilmenite Revenue Stream Mayur Resources Limited reported positive results following the completion of a preliminary level roasting test program for its Orokolo Bay Project located in Gulf Province, Papua New Guinea. The material used for the roasting test work originated from bulk sample pits (Pit 1, Pit 3, Pit 4, and Pit 5) taken at Orokolo Bay (EL2305). This material was then homogenized and transported to IHC Mining and Roundhill Engineering for metallurgical test work. Ilmenite is a one of the most commonly found and abundant forms of titanium ore in the world and is predominantly produced from Mineral Sand mining operations. Ilmenite, being a titanium oxide mineral, is used to produce high-performance metal alloys commonly used in the aerospace and aviation industry, the medical industry for surgical tools & implants, and for other high-performance products such as sporting equipment and the automotive industry. Ilmenite is also an important feedstock to produce titanium dioxide pigments which are commonly used as pigment in whitening paper, paints, toothpaste, adhesive, plastic, foods and nanotechnologies. The Ilmenite spot price on 14th of November 2022 is US$278 and is based on long-term consensus pricing from Bell Potter (54% TiO2, FOB Australia). Bureau Veritas performed mineralogical testing on the dry mill magnetic concentrate which demonstrated the sample to contain 19.2wt% of Ilmenite grade grains defined as minerals containing TiO2 between 40% to 60%. Subsequent roasting test work completed by Roundhill Engineering and metallurgical processing completed by IHC Mining successfully upgraded the dry mill magnetic concentrate into a marketable ilmenite product with ~40% TiO2 grade. The results from this work are encouraging and will be used to inform and optimise the downstream processing through further testing. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. 2 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Interim CEO of Energy & Power Generation Business and Executive Director Tim Crossley is the most experienced director on the board, commencing their role in 2017. Non-Executive Independent Director Benjamin Szeto was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Recent Insider Transactions • Oct 15
Insider recently bought AU$500k worth of stock On the 12th of October, Craig Ransley bought around 5m shares on-market at roughly AU$0.10 per share. This transaction amounted to 50% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$555k more in shares than they have sold in the last 12 months. Announcement • Oct 12
Mayur Resources Ltd Announces Board Changes Mayur Resources Limited advised that it has executed an agreement with Barra Resources Limited with respect to current and future financing arrangements at both the Mayur parent and subsidiary company levels (Financing Agreement). In conjunction with the execution of the Financing Agreement, and upon the appointment of Mr. Craig Ransley to the role of Mayur Executive Chairman, current Mayur Non-Executive Chairman, Mr. Charles Fear, will step back to the role of Non-Executive Director. Craig Ransley was the founder of Terracom Limited (then Guildford Coal). Craig retired as the Chairman of Terracom in July 2022 after the market capitalisation of Terracom exceeded AUD 600 million. At Terracom, Mr. Ransley was instrumental in working with the Board to restructure the Company and its balance sheet and was an integral part of Terracom's expansion into emerging markets. Mr. Ransley is a qualified Fitter and Machinist (Trade Qualified) and has a broad entrepreneurial background. He has been the driving force in building a number of companies and has extensive experience in the establishment and operations of mines around the world in developing countries as well as working in the labour hire and services industries, being a founder of TESA Group Pty Ltd. which was sold to Skilled Group in 2006 for $63 million. Announcement • Sep 28
Mayur Resources Ltd, Annual General Meeting, Dec 15, 2022 Mayur Resources Ltd, Annual General Meeting, Dec 15, 2022, at 15:00 E. Australia Standard Time. Reported Earnings • Sep 25
Full year 2022 earnings released: AU$0.068 loss per share (vs AU$0.057 loss in FY 2021) Full year 2022 results: AU$0.068 loss per share (further deteriorated from AU$0.057 loss in FY 2021). Net loss: AU$15.6m (loss widened 44% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 36% per year and the company’s share price has also fallen by 36% per year. Board Change • Sep 22
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. 2 experienced directors. No highly experienced directors. 1 independent director (3 non-independent directors). Interim CEO of Energy & Power Generation Business and Executive Director Tim Crossley is the most experienced director on the board, commencing their role in 2017. Independent Non-Executive Chairman Charles Fear was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Announcement • Sep 16
Mayur Resources Ltd Announces Board Changes Mayur Resources Limited announced the appointment of a new Singapore resident Director, Mr. Benjamin Szeto Yu Hwei, to the Mayur Board, with effect from 16 September 2022. Mayur also announces the resignation of Mr. Wee Choo Peng as Mayur's Singapore resident Director, with effect from 16 September 2022. Mayur is a Singapore registered company and is required to have at least one local resident in Singapore as a Director of the Company. Announcement • Aug 02
Mayur Resources Limited Announces the Resignation of Hubert Namani as a Director of the Company Mayur Resources Limited announced the resignation of Mr. Hubert Namani as a Director of the Company with effect from August 1, 2023, due to increasing work commitments associated with his own business in PNG. Announcement • Jul 26
Mayur Resources Ltd Announces DFS Update For CCL Quicklime Project Phase 1 Mayur Resources Limited present an update to the Central Cement and Lime (CCL) Project Definitive Feasibility Study (DFS), originally delivered in 2019. This updated DFS is focused solely on the first phase of an amended two-phase development schedule being: Prioritised and expanded 400ktpa quicklime/hydrated lime plant (doubling the 200ktpa capacity from the 2019 DFS), and additional 500ktpa of raw limestone production with wharf and associated infrastructure (CCL Phase 1); and The CCL Phase 1 DFS follows the Company's strategic review released in October 2021, where a decision to prioritise the phased development of the CCL project was taken, given the importance and growing criticality for quicklime in future facing minerals. The Updated DFS for CCL Phase 1 demonstrates that project phasing yields: A significantly lower upfront capital requirement; High economic viability; Rapid delivery of quicklime product into an escalating price and demand environment; and A swifter pathway to cashflow generation. CCL Phase 1 is set to deliver low-cost, high-quality local and seaborne high grade raw limestone and quicklime products to be supplied to numerous existing markets and future-green facing mineral industries. Construction of CCL Phase 1 is subject to financing with site works scheduled to begin as early as Fourth Quarter 2022. Announcement • Jul 21
Mayur Renewables PNG Limited Receives Notices from the Papua New Guinea Forest Authority of Cancellation of Forest Carbon Concessions Mayur Resources Limited via its Papua New Guinea subsidiary Mayur Renewables PNG Limited received on 20 July 2022 notices from the Papua New Guinea Forest Authority of cancellation of forest carbon concessions which had been issued in January 2022. This relates to the area of approximately 800,000 hectares referred to in Mayur's announcement of 12 January 2022. The notices do not make reference to the contractual arrangements that MR has in place with the PNGFA, the Papua New Guinea Climate Change and Development Authority and the relevant landowner company. MR has recently completed two extensive field trips to the concession areas and received very strong landowner support for its carbon offset projects and shall continue this awareness at the invitation of landowners. This process of seeking consent from the landowners is consistent with Mayur's contractual obligations, carbon project accreditation requirements and the applicable Papua New Guinea CCDA Management Act 2015. MR is seeking legal advice about the notices received from the PNGFA, and the current intention is to vigorously challenge the notices through applicable legal processes, with a view to continuing its carbon offset projects in all of the areas covered by its agreements. Mayur notes that the purported change in position of the PNGFA has arisen during the final period of the current government during which a new Forests Minister and Chairperson was appointed. PNG's general election is currently in progress and the appointment of Ministers in the new government is shortly anticipated by August2022. Mayur will not be making any other statements unless it becomes aware of information of a material nature and hence will inform the market on this basis. Board Change • Apr 27
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 2 experienced directors. No highly experienced directors. Interim CEO of Energy & Power Generation Business and Executive Director Tim Crossley is the most experienced director on the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Nov 01
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 2 experienced directors. No highly experienced directors. Interim CEO of Energy & Power Generation Business and Executive Director Tim Crossley is the most experienced director on the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Executive Departure • Sep 21
Interim Independent Non Executive Chairman Frank Terranova has left the company On the 16th of September, Frank Terranova's tenure as Interim Independent Non Executive Chairman ended after 4.2 years in the role. As of June 2021, Frank still personally held 2.25m shares (AU$450k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 1.75 years, which is considered inexperienced in the Simply Wall St Risk Model. Announcement • Aug 25
Mayur Project Receives Additional Customer Offtake Support Mayur Resources Limited announced an update from its prior announcement of 13 August 2021, that it now has offtake support from blue chip users for the entirety of the Phase 1 project incorporating dual high-capacity Quick lime kilns (circa 400,000 tpa). This event is an key enabling milestone to initiate this first phase of the fully approved Central Cement and Lime (CCL) project. Whilst company’s blue-chip customers cannot be announced due to sensitivities and confidentiality provisions, they have approved that their letters of support be provided to investors and financiers as a demonstration of their condition precedent intent to take limestone, Hydrated and Quicklime products from Phase 1 of the Central Cement and Lime facility. These letters of support provide reinforcement for the financing process as well as underwriting the global strategic investment exercise that Mayur Industrials will imminently undertake adding to other initiatives already on foot. Combined with additional customer support for the purchase of 700,00 tpa of high-grade limestone, the CCL Project has now reached the important milestone of covering 100% of the planned production output of Phase 1, being two lime kilns in addition to the direct export of high-grade quarried limestone. Mayur will also continue discussions, in both PNG and Australia, as more potential customers signal their interest to secure significant volumes of lime products from the CCL facility (which may give rise to consideration of a 3rd kiln) increasing output up to 600,000tpa of lime products. Announcement • Aug 15
Customers Confirm Support for Mayur Lime Products Mayur Resources Ltd. has received letters of support from customers in Papua New Guinea (PNG) and Australia, including blue chip end users and traders, for up to 266,000 tonnes per annum (tpa) of quicklime and hydrated lime products from the company's Central Cement and Lime (CCL) Project near Port Moresby. In addition to the quicklime and hydrated lime, Mayur has also received a formal expression of interest to supply up to 700,000 tpa of high-grade limestone to a large end user in the Pacific region. Mayur is also continuing other discussions, in both PNG and Australia, for further significant volumes of lime products and should these also convert to letters of support the company will update the market accordingly. Mayur will now work to convert this support into binding sales agreements. On a combined basis, 266,000 tpa represents around 67% of the 400,000 tpa of quicklime capacity planned for Phase 1 of the CCL Project. This interest feeds into the Phase 1 Definitive Feasibility Study being undertaken that seeks to double the 200,000 tpa of quicklime capacity contained in the original CCL Project DFS. Announcement • May 24
Mayur Resources Ltd announced that it expects to receive AUD 2.55 million in funding Mayur Resources Ltd (ASX:MRL) announced that it will issue 12,750,000 chess depository interest at a price of AUD 0.20 per chess depository interest for the gross proceeds of AUD 2,550,000 on May 24, 2021. The transaction will include participation professional and sophisticated investors. The transaction is expected to close on May 31, 2021. The transaction is oversubscribed. Announcement • Mar 06
Mayur Resources Limited Appoints Simon Slesarewich to Lead Iron and Industrial Mineral Sands Business Mayur Resources Limited has appointed experienced mining executive Simon Slesarewich to lead the company's iron and industrial mineral sands business. Simon will head the disaggregation initiative that will see further value unlocked from Mayur's project portfolio. A mining engineer, Mr. Slesarewich's career has spanned a wide variety of mining developments globally as well as senior executive roles with Centrex Metals, Metallica Minerals, Macarthur Coal, Queensland Resources Council, and Boardwalk Resources where he led the successful sale of the company to Whitehaven Coal as part of a $5.1 billion transaction. Is New 90 Day High Low • Feb 11
New 90-day low: AU$0.29 The company is down 29% from its price of AU$0.41 on 12 November 2020. The Australian market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 20% over the same period. Is New 90 Day High Low • Dec 17
New 90-day low: AU$0.30 The company is down 27% from its price of AU$0.41 on 18 September 2020. The Australian market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 12% over the same period. Announcement • Nov 18
Mayur Resources Ltd announced that it expects to receive AUD 5.500002 million in funding Mayur Resources Ltd (ASX:MRL) announced that it will issue 15,714,290 chess depository interest at a price of AUD 0.35 per chess depository interest for the gross proceeds of AUD 5,500,001.5 on November 15, 2020. The transaction will include participation from directors of the company for AUD 62,504 and also include participation from existing shareholders, high net worth investors, domestic and international funds as well as new institutional
investors. The company will pay 2% of the gross proceeds as management fees and 4% of the gross proceeds as placement fees in the transaction. The transaction is expected to close on November 23, 2020. Announcement • Nov 17
Mayur Resources Ltd, Annual General Meeting, Dec 16, 2020 Mayur Resources Ltd, Annual General Meeting, Dec 16, 2020, at 10:01 E. Australia Standard Time. Location: Level 4, Sonderklasse Lounge 300 Adelaide Street Brisbane Australia Agenda: To consider adoption of audited financial statements for the financial year ended 30 June 2020; to consider directors' remuneration for the financial year ended 30 June 2020; to propose re-election of directors; to propose re-appointment of auditors; to consider authority to allot and issue shares; to consider ratification of prior issues; and to consider allotment of Salary Sacrifice Rights to Related Parties; to consider allotment of Long-Term Investment Performance Rights to Related Parties; and to transact any other business which may be properly transacted at the Annual General Meeting. Is New 90 Day High Low • Nov 09
New 90-day low: AU$0.37 The company is down 33% from its price of AU$0.55 on 10 August 2020. The Australian market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is down 7.0% over the same period. Announcement • Nov 05
Mayur Resources Ltd Announces Board Changes Mayur Resources Limited announced that Mr. Lu Kee Hong has resigned as a director. MRL announced that Mr. Wee Choo Peng will replace Mr. Lu as a Non-Executive Director. Mr. Wee is experienced in auditing, commodity trading, finance, risk management and business strategy implementation. Mr. Wee has consulted on a number of projects including the Kuok Oil and Grains merger with Wilmar International Ltd. and other projects involving Stamford Tyres Corporation Ltd. and Ernst and Young. Reported Earnings • Oct 01
Full year earnings released - AU$0.022 loss per share Over the last 12 months the company has reported total losses of AU$3.72m, with losses widening by 13% from the prior year. Announcement • Sep 17
Mayur Resources Ltd. Indigenous Energy Resources Increased At Depot Creek Project in Papua New Guinea Mayur Resources Ltd. has booked an increase in compliant resources at its Depot Creek Coal Project in Gulf Province, Papua New Guinea (PNG). The Inferred JORC Resource at the project has increased to 12.8 million tonnes (Mt) from 11.5 Mt and includes a higher confidence Indicated Resource component of 3.9Mt. The resource modelling work was completed by New Zealand's Verum Group which also identified a new exploration target of >100Mt within the project tenement area (excluding adjacent tenements which in aggregate and including Depot Creek have an Exploration Target of approximately 200 Mt). Managing Director Paul Mulder said the resource upgrade and improved confidence was significant to the company's nation building agenda. The upgrade follows a successful completion of a series of exploration programs late last year which included shallow backpack drilling and a LiDAR survey. This supplemented previous work at the project, which included diamond core drilling and a geological mapping program, that resulted in the previously announced maiden JORC Inferred Resource of 11.5Mt. Competent person Kerry Gordon from Verum noted "although this was a modest increase in resources from previous work, a further six to 10 hole down dip drill program that confirmed seam continuity would enable a significant upgrade to the resource volume and confidence level." The coal samples were obtained by two methods. Firstly, a backpack BQ core size (35mm) drilling program was conducted which targeted the main seams along strike where they dipped below the surface and, secondly, the collection of channel samples at various out cropping seams. The objective was to get a good understanding of the quality, continuity and thickness of the main seams along the 10km strike of the previously mapped at surface outcropping coal area. A total of 45 shallow backpack drill holes along strike were drilled and 14 channel samples obtained. Samples were logged, sealed, bagged and shipped to ALS Laboratories in Brisbane for coal quality analysis. Topography was modelled from LiDAR data flown between 12th to 18th December 2019 by TWL. LiDAR data was imported into leapfrog and a surface triangulation was created for the Depot Creek area with a cell size of 1m. The 1m resolution file was used for picking coal seams and structural interpretation.