121 Mining Investment Hong Kong Presentation
Perth, Oct 16, 2017 AEST (ABN Newswire) - Image Resources NL (
ASX:IMA) (IMREF:OTCMKTS) provides the Company's latest presentation at 121 Mining Investment, Hong Kong.
Company Description and Focus
Emerging mineral sands producer
Actively focused on fast-tracking the development of its 100%-owned, high-grade and high-zircon flagship Boonanarring mineral sands project in the North Perth Basin in Western Australia.
First production targeted for 2nd QTR 2018.
Upside Potential
Upside potential at and near Boonanarring
- Confirmed potential to extend mine life with high grade mineralisation (ASX announcement 13 March & 26 June 2017);
o Assuming mineralisation in extension area is identical to known Ore Reserves in all aspects and economics; two years of additional mine life could add AU$60M to project NPV.
- Potential to process lower grade overlying layer of mineralisation;
- Potential to process ores from several other deposits with high grade mineral resources in the vicinity;
o Red Gully, Regans Ford, and Gingin (South and North).
To view the full presentation, please visit:
http://abnnewswire.net/lnk/BBR9663Y
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.
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