FINANCE VIDEO: Image Resources (ASX:IMA) CEO George Sakalidis Speaks at RIU Sydney Resources Round-up
Sydney, May 14, 2010 (ABN Newswire) - FINANCE VIDEO: Image Resources (
ASX:IMA) CEO George Sakalidis Speaks at RIU Sydney Resources Round-up.
Image Resources (ASX:IMA) currently holds 28 projects totalling in excess of 7,000 sq km in area ranging from grass roots to advanced projects with drilling targets. This large portfolio of projects is mainly focused on gold, nickel and mineral sands and ranges in location from the Pilbara, Eastern Goldfields, Southern Cross, Forrestania and North Perth Basin regions in Western Australia to the Eucla Basin of South Australia.
In keeping with its strategy of maintaining a high level of activity on its large tenement holding and yet conserving funds for new project acquisition, Image has farmed out several of its projects to companies with the skills and financial resources to effectively explore and add value to these projects. These joint ventures include the Emu Lake JV (nickel, Jubilee Mines earning 60%), Trojan JV (gold and base metals, Troy Resources earning 60%), Jilbadgie JV (gold and nickel, Westonia Mines earning 65%) and Bronco Plains JV (gold, Troy Resources earning 60%). In addition Image has a joint venture with Meteoric Resources NL under which Meteoric has earned 100% of Image's interest in eight projects in WA, with Image retaining a 1% gross royalty interest.
View the video at this link:
http://www.abnnewswire/press/en/62862/Image-Resources
About Image Resources NL
Image Resources NL (ASX:IMA) is a mineral sands focused miner and supplier of critical minerals titanium dioxide, zircon and monazite containing rare earth elements for sale into global markets. The Company has a demonstrated track record of successful project development and operations at its Boonanarring project located 80km north of Perth in the infrastructure rich North Perth Basin.
Boonanarring was a high-grade, high-zircon, low capital cost mine development that was constructed on-time and on-budget in CY2018 and then ramped up to name plate capacity in the second month of operation and went on to operate profitably through Q3 2023. Debt for the project was paid off early in February 2021 and the Company paid dividends to shareholders in April 2021 and April 2022.
Image completed critical construction of the Atlas project in January 2025 and started commissioning and achieved first HMC production in February 2025 and will be ramping up production and revenue from Atlas in Q2 CY2025.
Chapter 1 operating strategy for Image involved the transition from advanced explorer to active miner in CY2018, operating a single mine and producing a single product (HMC) sold into a single jurisdiction (China). Chapter 2 strategy (post Atlas) will focus on the Company's growth and sustainability ambitions which includes the operation of multiple mines in parallel, producing multiple products (separating HMC), and selling into a global market.
The Company is also investigating a significant value adding step of upgrading its ilmenite to synthetic rutile using a lower GHG emissions, innovative process which Image has provisionally patented, and aims to demonstrate the technical and economic feasibility of this novel process in CY2025-26.
