Mayur Resources

Primary ticker: ASX:MRL
Stage of development: Exploration/Development/Production
Primary minerals: Mineral sands, Coal, Power, Cement & Copper Gold
Project to promote:
Depot Creek coal – exploration .. 200 Mt exploration target
Lae Power Project – 50 Mw, coal, biomass and solar PPA under negotiation with PNG Power (SOE)
Orokolo Bay Minerals sands – 5mtpa ROM , multi products of Magnetite (Iron) sands, Dense Media magnetite, Zircon and Silica construction sands. Scaleable with Multiple other project opportunites. Entering into production Q3 2019
Central Cement and Lime project – 5000tpd clinker/ cement plant, 600 tpd Lime kiln with captured power station and export warf. Massive lime resource >380 Mt JORC, at surface on the coast can support a >50 year production cement and lime factory. DFS stage.
Copper /Gold -multiple projects both on the Lihir and New Britain volcanic arc notable for Tier 1 discoveries. Flagship project is Feni neighbouring island to LIhir (worlds 5 th largest gold mine)

Live financials

Mayur Resources is a diversified mineral exploration, development and energy company operating in Papua New
Guinea (PNG) across the following divisions:
(a) Industrial Mineral Sands (construction sands, magnetite sands, heavy mineral sands)
(b) Lime and Cement. The company is undertaking a DFS which contemplates the quarrying of high grade limestone together with the development of a vertically integrated downstream processing quicklime and
clinker / cement plant for domestic (import replacement) and export markets.
(c) Copper and Gold. The Company holds the Feni Island Project in New Ireland Province as well as the prospective Basilaki/ Sideia project in Milne Bay Province
(d) Power Generation.
(e) Coal Exploration. The Company holds a portfolio of exploration licenses in Gulf Province that includes the
Depot Creek Coal project.

Bell Potter Report

Management Profile

Mr Tim Crossley – Executive Director

Mr Crossley has extensive experience as a director and mining executive, having operated some of Australia’s largest mining businesses including roles as Deputy CEO of ASX-listed Gloucester Coal, and President and Chief Operating Officer (COO) at BHP Billiton’s West Australian Iron Ore business.

Tim also held the position of Executive General Manager of carbon steel materials for Gina Rinehart’s Hancock Prospecting Pty Ltd’s Roy Hill project. Tim has also held senior roles in BHP’s manganese business and metallurgical coal business and was a Director in ASX-listed VDM Group.

Tim is also a former President of the Northern Territory Minerals Council and Executive Chairman of Trans-Tasman Resources.

What is your rationale for attending 121 Mining Investment?

Seeking to introduce Mayur to new investors, make them aware of the Mayur story and investment ready when we want to raise capital

What recent news would you like to highlight to investors attending?

China Titanium Resources Holdings to provide up to US$25m for development of Orokolo Bay Industrial Sands Project – Pilot Plant & Full Scale Operation
MOA signed with Morobe Provincial Government for Lae Project
EPC Tenders Issued – Port Moresby Lime and Cement Project
Industry Veteran Appointed CEO of Lime & Cement Business
Pre-drilling work completed at Feni Copper Gold Project
Drilling programme completed across industrial sands portfolio

What are your key goals for the next 3, 6 and 12 months?

3 Months:

Complete DFS for lime and cement project, commence drilling at Feni Island, finalise PPA with PNG power, commence equipment purchase for Orokolo project, commence drilling on coal project

6 Months:

Secure ML for lime and cement project, commence construction Orokolo, drilling in progress Feni island, drilling in progress at coal project

12 Months:

FID lime and cement project, FID Power project, release JORC coal and Feni island

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Financing particularly equity is always a challenge for pre production companies

In a sentence, what do you think makes your company such a compelling investment?

Diversity (mix of energy , traditional minerals and industrial minerals), scaleability , management