Pacific Lime And Cement Limited · ASX:PLA
Pacific Lime And Cement — Investor Presentation (February 2025)
51 slides from Pacific Lime And Cement's investor presentation, Feb 19, 2025
Slide 1: Equity Raising Presentation
Equity Raising Presentation Building Progress, Building Tomorrow February 2025 ASX: MRL
Slide 2: Important Notices and Disclaimers
Important Notices and Disclaimers This presentation (“Presentation”) has been prepared by Mayur Resources Limited ARBN 619 770 277 (“Mayur” or the “Company”) in connection with a proposed equity raising by the Company comprising a placement of new Chess Depository Interests over the ordinary shares
Slide 3: Important Notices and Disclaimers (Cont.)
Important Notices and Disclaimers (Cont.) JORC Code It is a requirement of the ASX Listing Rules that the reporting of Ore Reserves and Mineral Resources in Australia comply with the Joint Ore Reserves Committee’s Australasian Code for Reporting of Mineral Resources and Ore Reserves, 2012 ("JORC Cod
Slide 4: Important Notices and Disclaimers (Cont.)
Important Notices and Disclaimers (Cont.) Investment and Other Risks An investment in New CDIs is subject to investment and other known and unknown risks, some of which are beyond the control of the Company. Mayur does not guarantee any particular rate of return or the performance of Mayur nor does
Slide 5: Investment Highlights
Investment Highlights Exposure to a nation building project already under construction Commenced construction of a significant lime and cement project with robust economics Funding for Stage 1 & Stage 2 expansion conditionally secured following successful equity raising 1 Rapidly scalable lime proje
Slide 6: Rebrand to an Industrial Building Material Company
Rebrand to an Industrial Building Material Company Strategically aligning with the Company’s flagship quicklime and cement project Rebranding to be finalised Mayur’s strategic objectives Develop a high-quality quicklime and cement project in Papua New Guinea; Reduce PNG’s reliance on lime and ce
Slide 7: Equity Raising Overview
Equity Raising Overview ASX: MRL
Slide 8: Equity Raising Summary
Equity Raising Summary Mayur is undertaking an institutional placement to raise ~A$80.0 million (before costs) via the issue of approximately: − 106.5 million Chess Depository Interests (“New CDIs”) to raise approximately A$29.8 million, pursuant to the Company’s existing placement capacity under
Slide 9: Sources and Uses of Funds
Sources and Uses of Funds Placement proceeds are expected to fund equity portion of Stage 1 development & Stage 2 expansion of the Central Lime Project6,7 Central Lime Project Stage 1 & 2 est. funding (US$m) Sources US$m A$m1 Placement proceeds2 49 77 Appian equity3 2 3 22 Appian initial facility4 7
Slide 10: Timetable and Pro-forma Capital Structure
Timetable and Pro-forma Capital Structure Indicative timetable Pro-forma capital structure Event Date CDIs (m) % Trading halt and launch of Offer Wednesday, 19 February 2025 CDIs on issue1 425.9 60% Placement2 285.7 40% Trading halt lifted and announcement of receipt of binding commitments for Offer
Slide 11: Company Overview
Company Overview ASX: MRL
Slide 12: Company Overview
Company Overview Share Price Performance (Last Two Years) Capital Structure (Pre-Placement) Price (A$) Volume (m) Share price (18 Feb 2025) A$ 0.35 Ordinary CDIs outstanding (undiluted)1 m 426 0.40 12 Market capitalisation2 A$m 149 Cash3 A$m 5 10 Debt4 A$m 19 0.30 Net debt / (cash) A$m 14 8 Enterpri
Slide 13: Experienced Board and Management Team
Experienced Board and Management Team With a track record of delivering projects and generating shareholder value Board of Directors Senior Management Richard Pegum Paul Mulder Kerry Parker Jason Zoller Executive Chairman Managing Director CFO CLP Project Director • Partner of Bennelong Asset • Foun
Slide 14: Construction Ready Project Portfolio
Construction Ready Project Portfolio Mayur owns a portfolio of projects in PNG across lime, cement, iron and industrial sands and renewables Today’s focus Project Description Status Timing Aggregates & quicklime manufacturing facility to Construction commenced, Target for 1st revenue: Central LimePr
Slide 15: Definitive Financing Agreement with Appian
Definitive Financing Agreement with Appian Debt financing is conditionally approved for the Central Lime Project Most CPs satisfied for drawdown of initial US$70m of US$115 million senior secured loan and royalty financing, including1: debt and FID, with following CPs remaining2: 1. Equity funding p
Slide 16: Central Lime Project
Central Lime Project ASX: MRL
Slide 17: What is Lime?
What is Lime? A critical mineral for mineral processing to enable the global energy transition – One of the earliest known industrial commodities and fundamental raw Water treatment material for industry Absorbs and removes pollutants from drinking water – Limited economically viable substitutes – i
Slide 18: Central Lime Project
Central Lime Project Fully permitted and construction ready with robust economics – Stage 1 includes 2 lime kilns and hydration operations supplying 400 ktpa+ 1 and is expected to generate ~US$34.5m EBITDA annually2 – Long-life resource of 382Mt JORC Resource across two deposits3 Mine Lime Plant Min
Slide 19: Updated Stage 1 Economics
Updated Stage 1 Economics Improved economics since previous DFS Update in 2022 – Quicklime prices adjusted to be in line with current market/contract negotiations vs the updated DFS Stage 1 EBITDA Bridge (US$m)1 – Hydrated lime prices were increased to reflect the typical premium to Quicklime in the
Slide 20: Funding for Stage 1 is Conditionally Secured
Funding for Stage 1 is Conditionally Secured Central Lime Project Stage 1 is conditionally funded following the Placement Funding Strategy Stage 1 Funding Sources and Uses (US$m) Mayur expects the Placement proceeds and Appian base facility will fully fund CLP Stage 1 development capex of US$104 m
Slide 21: Stage 2 Expansion – Rapidly Scalable Project
Stage 2 Expansion – Rapidly Scalable Project Expansion generates an attractive return on capital for expansion kilns Forecast EBITDA (US$m)1 – Long-life resource of 382Mt across two deposits with mine life of 100+ years1 – expansion is the logical next step Project scalable to 8 kilns – Stage 1 deve
Slide 22: Strategic Location Drives Cost Advantage
Strategic Location Drives Cost Advantage Opportunity to displace existing competitors supplying Australasia Wharf – Mayur 100%-owns and controls its wharf, which is highly unique in Asia – Delivers significant operational savings on handling, storage and logistics Trucking – Lime deposits are typica
Slide 23: Supportive Jurisdiction and Strong Relationships
Supportive Jurisdiction and Strong Relationships Mayur has been operating in PNG for over a decade and has strong relationships in country as highlighted by its exclusive Special Economic Zone Why PNG? Location and Special Economic Zone Port Moresby Natural Resources are Favourable mining Emerging m
Slide 24: Special Economic Zone
Special Economic Zone Supportive Jurisdiction and Strong Relationships in Country – SEZ granted in September 2021 by PNG Government Renewable to promote new downstream processing and CCL Project Energy Industrial vertically integrated industries Precinct Precinct PORT MORESBY Entrance to SEZ – SEZ i
Slide 25: Central Cement Project
Central Cement Project ASX: MRL
Slide 26: Central Cement Project
Central Cement Project Australasia’s first export facing clinker and cement development – Integrated with the Central Lime Project and export wharf facilities Kido Lea Lea Quarry Lea Lea PNG Quarry – Ready-to-build project, with all material permits Village LNG obtained Alternative option for 12Km C
Slide 27: Strategic Location Drives Cost Advantage
Strategic Location Drives Cost Advantage Contextualising the freight advantage… Freight advantage to Australia and South Pacific Significantly closer to users in Australia and the South Pacific than other seaborne supply Lower shipping cost and carbon footprint due to shorter sailing times Add
Slide 28: Customers and End Markets
Customers and End Markets Large contestable market with strong creditworthy customers VIETNAM JAPAN CCL – Mayur’s analysis indicates Australia’s demand to be 4.3 million tonnes of cement 1 Project – Australia imports ~50% of cement with local producers shutting down amid limited continued investment
Slide 29: Appendix
MayurResources ASX: MRL
Slide 30: Central Lime Development Indicative Timeline
Central Lime Development Indicative Timeline1 Materials sourced globally with major packages from China and Vietnam Detail Design Procure Ship Install Commission Months 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Establishment Civil Major Plant – Ship Charter Installation Phase Commission Bulk Eart
Slide 31: Delivering Long Term Benefits to the Community
Delivering Long Term Benefits to the Community Transformative, responsible, sustained improvement Sustainable Development Goals - Benefits for Local Community Infrastructure and economic activity generated to Solar farm to provide sustainable renewable energy for improve living standards of local co
Slide 32: Opportunity for Lime in Southeast Asia and Oceana
Opportunity for Lime in Southeast Asia and Oceana Aggregated lime demand from metals processing to continue to increase Southeast Asia and Oceana Demand Supply Outlook Regional demand for quicklime and hydrated lime in ferrous and non-ferrous metals processing is expected to outstrip supply (see c
Slide 33: Broad Portfolio of Project
Broad Portfolio of Project A portfolio of Industrial Nation Building Projects construction ready in PNG Central Lime Project (CLP) Ortus Resources - Industrial Sands Mayur Renewables 33
Slide 34: Central Lime Project – JORC Mineral Resource
Central Lime Project – JORC Mineral Resource Measured Mineral Resource Estimate1 Area Category CaO cut off 2 Tonnes CaO Al2O3 Si2O % Mt % % % Lea Lea Measured 52% 61 53.4 0.6 1.7 Kido Measured 52% 144 53.6 0.6 1.8 Total Measured 52% 205* 53.5 0.61 1.7 Indicated Mineral Resource Estimate1 Area Catego
Slide 35: Key Risks
MayurResources ASX: MRL
Slide 36: Key Risks
Key Risks Risk factors You should be aware that being issued New CDIs involves various risks. This section discusses some of the key risks associated with an investment in New CDIs. A number of risks and uncertainties, which are both specific to and of a more general nature, may adversely affect the
Slide 37: Key Risks
Key Risks Permits and approvals risk Mining in PNG requires a Mining Lease, which may be granted once certain criteria are fulfilled, including completion of a feasibility study and obtaining requisite environmental permits. There can be no assurance that the Company will be able to obtain and/or ma
Slide 38: Key Risks
Key Risks Labour risk The Company is currently undergoing a process to secure the necessary labour (including relevant expatriates) to develop and operate the Central Lime Project, through the engagement of established relationships with contractors and recruitment agencies in the region. The Compan
Slide 39: Key Risks
Key Risks Product and pricing risk Any successful project that leads to mineral production and the sale of product exposes Mayur to product mix and pricing risk. Revenues from the Central Cement and Lime Project will be derived from the sales of several different mineral products including quicklime
Slide 40: Key Risks
Key Risks Country risk (cont.) Changes, if any, in mining or investment policies, or shifts in political attitude, in PNG may adversely affect the operations or profitability of the Company. Operations may be affected in varying degrees by government regulations with respect to, but not limited to,
Slide 41: Key Risks
Key Risks Operating risks Industry operating risks include, but are not limited to, fire, explosions, environmental hazards, technical failures, unusual or unexpected geological conditions, adverse weather conditions, cyclones and other accidents. In particular, safety is a fundamental risk for any
Slide 42: Key Risks
Key Risks Legislative changes, government policy and approvals Any changes in government policies or legislation that affect mining, processing, development and mineral exploration activities, income tax laws, royalty regulations, government subsidies, environmental issues and other laws in PNG or i
Slide 43: Key Risks
Key Risks General Risks Competition The industry in which the Company competes with other companies, including major mining companies in Australia and internationally. Although the Company will undertake reasonable due diligence in its business decisions and operations, the Company will have no infl
Slide 44: Key Risks
Key Risks Financial risks The Company’s activities expose it to a variety of financial risks, including: • Market risk: The risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices interest rate risk, price risk, credit risk and liqui
Slide 45: Key Risks
Key Risks Underwriting risk Mayur has entered into an underwriting agreement with Barrenjoey Markets Pty Limited (“Barrenjoey” or the "Lead Manager") who has agreed to partially underwrite a ~$48.6 million portion of the Placement (excluding the Precommitments) on the terms and conditions of the und
Slide 46: Key Risks (cont.)
Key Risks Underwriting risk (cont.) i) ASIC issues, or threatens to issue, proceedings or commences any inquiry or investigation in relation to the Placement, and such proceedings, inquiry or investigation become public or is not withdrawn: (i) within 2 business days after it is made; or (ii) where
Slide 47: Key Risks
Key Risks Market liquidity There can be no guarantee of an active market for the Company’s shares or that the price of the Company’s shares will increase. There may be relatively few potential buyers or sellers of the Company’s shares at any time. This may increase the volatility of the market price
Slide 48: Foreign Selling Restrictions
Foreign Selling Restrictions Cayman Islands The Company is not licenced to conduct investment business in the Cayman Islands by the Cayman Islands Monetary Authority and this document does not constitute a public offer of the New CDIs, whether by way of sale or subscription, in the Cayman Islands. T
Slide 49: Foreign Selling Restrictions
Foreign Selling Restrictions New Zealand This document has not, nor has any other document in connection with the New CDIs under the proposed offer, been registered, filed with or approved by any New Zealand regulatory authority under the Financial Markets Conduct Act 2013 (the “FMC Act”). The New C
Slide 50: Foreign Selling Restrictions
Foreign Selling Restrictions United Kingdom (UK) Neither this document nor any other document relating to the offer has been delivered for approval to the Financial Conduct Authority in the United Kingdom and no prospectus (within the meaning of section 85 of the Financial Services and Markets Act 2
Slide 51: Building Progress, Building Tomorrow
Building Progress, Building Tomorrow 300 Adelaide Street www.mayurresources.com Brisbane QLD 4000 T: +61 7 3157 4400 @Mayur Resources E: info@mayurresources.com ASX: MRL
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