Boonanarring Mineral Sands Project: The next cab off the mineral sands rankImage Resources NL (
Opportunity to invest in company transitioning to profitable mining operator
- Company fully funded to positive cashflow
o $50M as debt; $25M as equity
- Project construction underway (only $52M project capital)
- Plant and equipment already acquired
- First production scheduled for 4th QTR 2018 (6-month build)
- Cashflow positive forecast in 1st QTR 2019
- Binding off-take agreement in place for 100% of production
- Project NPV A$197 million; IRR 104%; <2 year payback
o metrics out-of-date on 1 April 2018 due to zircon price rise
- Company market cap. A$61M (15 March 2018)
- Share price $0.10 (15 March 2018)
o Euroz and Patersons 12-month forecast $0.22 and $0.19
Emerging mineral sands producer
Totally focused on fast-tracking the development of its 100%-owned, high-grade, zircon-rich flagship Boonanarring mineral sands project located 80km north of Perth in Western Australia.
First production targeted for 4th QTR 2018.
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About Image Resources NL
Image Resources NL (ASX:IMA) is an emerging Mineral Sands producer focused on the development of its high-grade Boonanarring Project in the North Perth Basin while continuing to expand its resources and reserves base.
Image Resources NL (ASX:IMA) Issues Contract for Construction of Boonanarring Site Entry Intersection