Mayur Minerals is pioneering the development of a highly prospective heavy mineral sands province in PNG with multiple products and defined short term routes to market plus significant scalability to expand future low cost operations.
• A vast (multi-billion tonne) mineralised province where Mayur holds 100% of the Exploration Licenses over 400 km
• Huge tenement portfolio 14,000+ km2 under exploration; along southern coastline and delta regions of PNG
• Focus on Orokolo Bay project (OBP) (see map below):
– JORC Resource – 86 Mt of industrial sand; 107,000t of Zircon; 173Mt @ 9.2% Fe (upgrades to 6.6Mt magnetite and DMS at 57% Fe)
– Pre Feasibility Study completed; DFS commenced
– Onshore dry mining – 12 year LOM
– Low CAPEX – US$16m to produce multiple products (1 Mtpa construction sands, 100ktpa magnetite as Dense Media Separation (DMS) for coal washing, 400ktpa titano-magnetite for steel making, 5ktpa zircon conc.
– Low OPEX – US$9/t FOB / US$23/t CFR for combined ‘mineral basket’ (CFR Australia for Construction Sands and DMS; CFR China for Magnetite and Zircon / heavy mineral concentrate)
– NPV (10%) – US$126m (real ungeared, post tax), Payback – 0.7 years, IRR – 133 %
• Long Term Growth Pipeline – 10+ projects with identified resources across expanded portfolio representing +USD$500m NPV target
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