Boonanarring Mineral Sands Project: The next cab off the mineral sands rank
Mineral Sands Conference - Presentation
Perth, Mar 20, 2018 AEST (ABN Newswire) - Image Resources NL (
ASX:IMA) (IMREF:OTCMKTS) 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o metrics out-of-date on 1 April 2018 due to zircon price rise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:
http://abnnewswire.net/lnk/HP88STBU
About Image Resources NL
Image Resources NL (ASX:IMA) is a mineral sands focused mining company operating an open-cut mine and ore processing facility at its 100%-owned, high-grade, zircon-rich Boonanarring Project, located 80km north of Perth in the infrastructure rich North Perth Basin.
Boonanarring is arguably one of the highest grade, zircon-rich mineral sands projects in Australia. Construction and project commissioning were completed on-time and on-budget in 2018. Production commenced in December 2018 and HMC production ramped-up to exceed name-plate capacity in only the second month of operation.
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