Australia's Mayur hits over 2-month high on securing $90 mln debt funding

Pacific Lime and Cement

08/11/2023 01:26

** Shares of Mayur Resources  MRL.AX  rise as much as 4.6%
to A$0.23, their highest since Aug 28
    ** Diversified miner says executed term sheet with Appian
Capital Advisory for up to $90 mln debt funding for Central Lime
project in Papua New Guinea 
    ** Says secured A$10 mln ($6.43 mln) parent level financing,
comprising A$9.25 mln covenant light loan facility and A$0.75
mln share placement
    ** MRL shares post biggest intraday pct gain since Oct 31
    ** Stock up 25.7% this year, as of last close

($1 = 1.5557 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))