Mayur Resources Ltd. advised it has completed the Definitive Feasibility Study (DFS) for the Central Cement and Lime Project (the Project), located 25 km north of Port Moresby. The Project anticipates the quarrying of extensive limestone deposits and the downstream production of clinker, cement and quicklime for both domestic and export markets. The Project also includes the construction of supporting infrastructure including a dedicated power station and sole purpose marine wharf facility adjacent to the plant site that will provide significant operational and logistical advantages. The robust outcomes from the DFS have incorporated the outputs from an EPC (engineering, procurement and construction) tender process initiated in late 2018, and other project DFS engineering and development activities completed over the last 18 months2. This outcome now provides a strong platform for the Company to submit its application for a Mining Lease for the quarrying operations, and complete the next steps of detailed engineering design, product offtake and project financing that will enable a financial investment decision and a target commencement of construction by late 2019. The Company's strategy for the project aligns with the desire of the PNG government to not only diversify the country's extractive industries, but also, add value to its vast mineral wealth through vertically integrated projects via new import displacement industries that are nation building in nature and also serve as exporting operations to increase foreign currency inflows. The Project seeks to achieve this via the downstream processing of the limestone resources and the production of cement and lime products, these being key nation building commodities. PNG currently imports all cement and clinker and significant quantities of quicklime hence the Project will provide PNG with in country industrial manufacturing capability with which to reduce and replace dependence on imports and provide a new export industry to help improve PNG's balance of trade. The DFS indicates that the Project will be robust and deliver healthy margins with current forecast lifeofproject (LOP) revenue of USD 4,792m and LOP Project EBITDA3 of USD 3,540m over an estimated 30year project life. This is supported by a 78 Mt Ore Reserve that has been taken from the larger JORC Resource of 382 Mt that will potentially enable both the future duplication expansion of the Project's cement and quicklime plant capacity and also an extension of the project life beyond 50 years. In addition to the limestone Reserve the Company has also delineated a new Mineral Resource of 14 Mt (JORC) for cement making correctives material.