Perth, May 14, 2008 AEST (ABN Newswire) - The Board of Image Resources (ASX:IMA)(PINK: IMREF) notes that ANZ no longer holds any securities in IMA on account of the Opes Prime matter. All shares held by ANZ in such a capacity were disposed of in an orderly manner with substantial assistance from IMA's board (refer to IMA ASX announcements on 2 April, 7 April and 8 April 2008).
IMA acknowledges that the ANZ Bank has lodged two disclosures, the first in relation to a Form 603 "Notice of Becoming a Substantial Holder" and the second in relation to a Form 605 "Notice of Ceasing to be a Substantial Holder".
In IMA's opinion, these two disclosures are unclear as to the events which have transpired over the last months as effected by the Opes Prime debacle. The inclusion of extensive annexures serves to confuse what is now a finalised position.
The board wishes to re-iterate that the Opes Prime matter has been finalised with the support of both international and local investors.
About Image Resources NL
Image Resources NL (ASX:IMA) is a mineral sands focused mining company operating an open-cut mine and ore processing facility at its 100%-owned, high-grade, zircon-rich Boonanarring Project, located 80km north of Perth in the infrastructure rich North Perth Basin.
Boonanarring is arguably one of the highest grade, zircon-rich mineral sands projects in Australia. Construction and project commissioning were completed on-time and on-budget in 2018. Production commenced in December 2018 and HMC production ramped-up to exceed name-plate capacity in only the second month of operation. The Company achieved profitability in Q1 2019 and was cashflow positive in Q2 2019 and is now at steady state production.
| ||
|
