Watson Farley & Williams advised Tamesis Partners LLP (“Tamesis”), acting as broker, on a US$10m subscription by investors for convertible loan notes issued by ASX-listed Mayur Resources Limited (“Mayur”). As part of the transaction, subject to conditions precedent, the investors will provide an additional US$40m of equity funding to Mayur and its Central Lime Project (“CLP”) in Papua New Guinea.
The CLP is the first stage of a vertically integrated manufacturing facility which will fully meet Papua New Guinea’s lime and other building material requirements, thereby creating a new manufacturing industry for the nation. Given Papua New Guinea’s location, it is ideally placed to supply constrained Asia-Pacific markets.
Founded in 2016, London-based Tamesis is a specialised ECM and advisory house with a focus on the mining sector.
Mayur is an industrial sand mining company focussed on the development of natural resources in Papua New Guinea, with an asset portfolio spanning industrial minerals and renewable power generation.
The WFW London team that advised Tamesis comprised Global Mining & Commodities Sector Co-Head and Corporate and M&A Partner Jan Mellmann and Corporate and M&A Senior Associate Clementine Freeth.
Jan commented: “We are pleased to have advised Tamesis on this strategic transaction. Lime plays a crucial role in the conversion of critical minerals and metals to clean energy and battery ready materials making it a vital contributor to the energy transition. This deal highlights WFW’s reputation for excellence in equity capital market transactions in the natural resources sector”.
