{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Company Interviews","title":"Pacific Lime & Cement (ASX:PLA) - 'Undervalued?' Investment Series, with Paul Mulder","html":"","width":"100%","height":180,"duration":1556,"description":"Interview with Paul Mulder, Managing Director of Pacific Lime & Cement Ltd.Our previous interview: https://www.cruxinvestor.com/posts/pacific-lime-cement-asxpla-pngs-first-lime-producer-targets-50m-import-replacement-market-7827Recording date: 18th March 2026Pacific Lime & Cement (ASX:PLA) is advancing toward February 2027 production as Papua New Guinea's first domestically-based lime and cement manufacturer. In a recent interview, managing director Paul Mulder outlined the company's progress on a project that will eliminate PNG's complete reliance on Chinese and Japanese imports while establishing a vertically integrated building materials platform with substantial government backing.The project's competitive foundation rests on geographic advantages that significantly undercut existing supply chains. The coastal limestone deposit requires zero stripping and sits just 700 meters from the company's private wharf facility within a special economic zone. Current suppliers operate mines 100 to 200 kilometers inland in Southeast Asia, requiring land transport to public ports before international shipping. This positioning, combined with 10-year tax exemptions covering corporate tax and import-export duties, creates meaningful cost advantages for serving PNG's protected domestic market.Financial structure represents another differentiating element. Pacific Lime & Cement funded initial development entirely through equity rather than debt, eliminating covenant restrictions and interest obligations that would reduce cash conversion. The PNG government's direct equity participation of 18% to 30% in both lime and cement special purpose vehicles values the company at approximately $700 million AUD, nearly triple the current $250 million market capitalization. This investment, formalized through a March 2018 project development agreement, signals government commitment while providing expansion capital for additional lime kilns.Near-term revenue visibility comes from Newmont,...","thumbnail_url":"https://img.transistorcdn.com/1wv-MFlQAgnm-ca64e5kK4984dZB0os8-HJdRVsI74M/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9zaG93/LzEzNTcyLzE2MjM5/NTQyMDctYXJ0d29y/ay5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}