Australia's Mayur Resources climbs on signing magnetite sale deal

Pacific Lime and Cement

06/07/2022 04:06

** Shares of Mayur Resources  MRL.AX  rise as much as 5.3%
to A$0.080, their highest since June 24 
    ** Says it signs a binding offtake agreement for the sale of
magnetite product to titanium pellet producer Qingdao Shinebest
from co's Orokolo bay iron and industrial sands project in Papua
New Guinea  urn:newsml:reuters.com:*:nASX46cTH5
    ** Says offtake covers 300,000 tonnes per annum for a
three-year period, with an option to extend for a further year,
at
market linked pricing
    ** Stock set to post best intraday percentage gain since
June 24 and is on track for a second consecutive session of
gains 
    ** MRL is down ~65.5% this year as of last close 

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))