Board Approves BFS Recommendation to Seek Project Finance
Perth, May 31, 2017 AEST (ABN Newswire) - Image Resources NL (Image or the Company) (
ASX:IMA) is pleased to announce that the Board has unanimously approved the BFS recommendation to seek project financing for the development of the Boonanarring/Atlas project, and to continue to work to fast-track the development of the project to the point of the next decision point being finalising project financing. This decision follows the strong positive results of the bankable feasibility study as announced 30 May 2017.
The Board also approved an extension of the Managing Director's Executive Services Agreement to a no-fixed-term basis.
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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