Join our daily newsletter At The Bell to receive exclusive market insights
Image Resources NL (ASX:IMA) has achieved its first shipment of heavy mineral concentrate from the Atlas mineral sands project in Western Australia.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
The first shipment – which contained 10,000 wet tonnes of HMC – left Geraldton Port on April 10, only two months after the start of project commissioning at Atlas.
The Image Resources sale – to longstanding offtake partner Shantou Natfort Zirconium and Titanium Co. – was organised through a continuing life-of-mine offtake agreement which mirrors the offtake arrangements previously used for HMC sales from the company’s Boonanarring project.
The shipment’s material will also allow Atlas to repay Natford according to a US$10 million HMC Offtake Prepayment Facility executed in October 2024.
Around 25% of the market value of the shipment was applied to this.
Managing director and CEO Daniel Mutz said this was a milestone in financial and development terms. “The first sale of product from any new development project is always a milestone worthy of recognition.”
He added: “Completing a first shipment just two months after commencement of commissioning is truly a notable accomplishment, particularly as this shipment marks Image’s return to revenue after a 16-month hiatus.”
More market news
Kowtow: “Biggest day in financial history” on Trump’s tariffs retreat
Meet GeoGeorge: The HotCopper poster so accurate he got hired as an analyst
“On behalf of the board, I thank the entire Image team as well as our dedicated support contractors for making this accomplishment possible.”
IMA has been trading at 9 cents.
Join the discussion: See what HotCopper users are saying about Image Resources and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
-1200x645-380x200.jpg)