Australia's Mayur Resources jumps on carbon offset project deal with Santos

Pacific Lime and Cement

21/06/2022 04:07

** Shares of Papua New Guiniea-focused mineral explorer
Mayur Resources  MRL.AX  leap as much as 6.3% to A$0.085 
    ** Says it executed an expression of interest (EoI) with a
unit of Australian energy firm Santos  STO.AX  to jointly
develop carbon offset projects in PNG  urn:newsml:reuters.com:*:nASX7GmN89 
    ** Santos will get 180 days of exclusivity to negotiate
formal terms of the deal 
    ** Mayur has also obtained from Santos a $3 mln facility to
fund ongoing work on the carbon projects 
    ** Firm also announced it has fully repaid its Tribeca loan
facility  urn:newsml:reuters.com:*:nASX7QdZt6 
    ** MRL down 63.6% YTD as of last close 
    


 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))