Mayur Resources secures AU$10 million funding from investor consortium

Mayur Resources Limited (ASX: MRL) has secured a financing package worth AU$10 million from a consortium of professional and sophisticated investors. The package includes an AU$9.25 million covenant-light loan facility and an AU$0.75 million share placement. The funds aim to progress Mayur's Central Lime Project (CLP). Specifically, the focus will be on completing the wharf, enabling early cashflows through the sale of raw high-grade limestone starting next year.

Additionally, part of the funds will be used to settle the existing convertible note facility with Obsidian Global Partners. The remaining balance will be allocated for general working capital needs, supporting the ongoing progress of the Central Lime Project in collaboration with Vision Blue, as recently announced. This financing marks a significant step for Mayur Resources in its efforts to advance its projects and achieve key milestones.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com