Boonanarring Mineral Sands Project: The next cab off the mineral sands rank

Mineral Sands Conference - Presentation
Mineral Sands Conference - Presentation
Perth, Mar 20, 2018 AEST (ABN Newswire) - Image Resources NL (ASX:IMA) (OTCMKTS:IMREF) provides the Company's latest presentation at Mineral Sands Conference.

Investor Snapshot

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o metrics out-of-date on 1 April 2018 due to zircon price rise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.

To view the full presentation, please visit:

About Image Resources NL

Image Resources Ltd ASX:IMAImage 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.



Patrick Mutz
Managing Director
T: +61-8-9485-2410

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