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Image Resources NL ( (AU:IMA) ) has provided an announcement.
Image Resources NL announced that the construction of its Atlas mineral sands project is on track for commissioning and initial production of heavy mineral concentrate (HMC) by the end of Q1 2025. Despite setbacks such as a bush fire and previous permitting delays, the company has secured necessary funding from a US$20 million HMC Prepayment Facility, shared between its long-standing partner Natfort and Sunny Investment, ensuring the project is fully funded until it generates its first revenue in Q2 2025. This strategic financing move mitigates risks associated with single funding sources, while repayment is structured through HMC shipments.
More about Image Resources NL
Image Resources NL is an Australian company operating in the mineral sands industry. It focuses on developing and producing heavy mineral concentrate (HMC) from its projects, with a primary emphasis on the Atlas mineral sands project located in Western Australia.
YTD Price Performance: 0.0%
Average Trading Volume: 54,847
Technical Sentiment Consensus Rating: Hold
Current Market Cap: €59.69M
See more insights into IMA stock on TipRanks’ Stock Analysis page.
