Shares of Mayur Resources (ASX:MRL) have risen as much as 13% to A$0.175, marking their greatest intraday percentage gain since August 14.

The company reached its peak level since September 26.

The launch of its central lime project’s (CLP) inner rubble core wharf infrastructure has been cited as a reason for the rise.

Situated 25 kilometers north of Papua New Guinea’s capital, the wharf infrastructure is expected to facilitate early barging operations for the transport of goods and materials.

Further, Mayur Resources indicates that the infrastructure could enable the CLP to seize early cash flow prospects in 2024.

Despite the recent gains, the stock recorded an 11.4% drop year to date, up until the last close.

Mayur Resources is a natural resource development company based in Papua New Guinea, specializing in acquisition, exploration, and development of mineral and energy resources.