Appian Capital Advisory Limited (“Appian”), the investment advisor to long-term value-focused private capital funds specializing in metals, mining, and adjacent industries, confirms its decision to withdraw its proposed senior secured loan and royalty financing facility with Pacific Lime and Cement Limited (“PLC,” formerly known as Mayur Resources) for the Central Lime Project (the “Project”) in Papua New Guinea.
This development follows PLC’s confirmation of its inability to satisfy a key condition precedent of securing an offtake agreement prior to making its Final Investment Decision (FID) on the Project, outlined in the financing agreement in April 2024, and the decision not to draw from the senior facility. Appian viewed an offtake agreement as a critical step to de-risk the project and ensure its long-term viability for a lender.
As a result, Appian has determined that advancing a deal with the Project is no longer aligned with the best interests of its investors.
For further information:
Andrew Todd, Head of Communications: +44 7990416759 / [email protected]
+44 (0)20 7004 0951 / [email protected]
About Appian Capital Advisory
Appian Capital Advisory is the investment advisor to long-term value-focused private capital funds that invest in companies in metals, mining, and adjacent industries.
Appian is a leading investment advisor with global experience across South America, North America, Australia and Africa and a successful track record of supporting companies in metals, mining, and adjacent industries to achieve their development targets, with a global operating portfolio overseeing approximately 5,000 employees.
Appian has a global team of 88 experienced investment professionals, combining financial and technical expertise, with presences in London, New York, Dubai, Belo Horizonte, São Paulo, Beijing, Hong Kong, Toronto, Lima and Perth.
For more information, please visit www.appiancapitaladvisory.com, or find us on LinkedIn, Instagram or X.
