Image Resources NL (ASX:IMA) is an emerging mineral sands miner focused on the fast-track development of its 100%-owned, high-grade Boonanarring and Atlas projects in the North Perth Basin in Western Australia. The Company has received all necessary approvals and has acquired all the necessary plant and equipment to produce up to 250,000 tonnes of heavy mineral concentrate per annum. First production is anticipated in early 2018.
Image Resources has been listed on the ASX since 2002. The company was principally focused on exploration and delineation of heavy mineral sands resources on its tenements in the North Perth Basin; extending from 60km to 180km north of Perth in Western Australia. This region is a proven mineral sands province, with excellent existing infrastructure and a local workforce with extensive mineral sands operating experience.
Image is currently focused on the development of its 100%-owned, flagship Boonanarring and Atlas projects with high-grade, high-value mineral resources. An initial feasibility study was completed in 2013 and plans are underway to update this study to a bankable standard by upgrading the mineral resources to JORC 2012 standards, completing geotechnical studies for a more cost-effective mine design and mine plan and incorporating current favourable costings for labour, mining services, fuel, foreign exchange and interest.
In June 2016 the company acquired a wet concentrate plant and the majority of associated plant and equipment required to process ore at Boonanarring into a heavy mineral concentrate (HMC) intermediate product. In addition to the plant and equipment, as part of a deal with Murray Zircon Pty Ltd, Image also acquired access to funding, off-take arrangements for zircon, a purchase option for a mineral separation plant, as well as 3 new directors and an experienced senior project development and management team.
The company is committed to continuing its steady advancement towards production and believes its recently acquired assets will allow for a relatively rapid and low capital cost path to production..
Stock Exchange Listing: ASX:IMA
Stage of Production: Producer
Image Resources will be presenting their mining projects to prospective investors at the International Mining and Resources Conference, click here to claim your complimentary investor pass.