Image Resources NL (ASX: IMA) (“Image” or “the Company”) is an established, profitable Australian mineral sands mining company operating at its 100%-owned, high-grade, zircon-rich Boonanarring Project located 80km north of Perth in the infrastructure-rich North Perth Basin in Western Australia. Image built a solid reputation by delivering on the successful, on-time, on-budget construction and commissioning of the Boonanarring Project in CY2018, followed by three consecutive years of operational success that led to early repayment of debt and payment of a dividend to shareholders in CY2020 and CY2021. In CY2021 the Company adopted a growth strategy based on the development of additional standalone mining and processing operations from its portfolio of projects and/or projects outside its portfolio. In 1H CY2022 the Company completed two strategic acquisitions of mineral sands projects that increased total Mineral Resources owned by the Company by 15-fold to 6.4 billion tonnes, with the vast majority located within 25km of operations at Boonanarring. Image is focused on maintaining profitable operations while conducting studies to prioritise the development of additional operating centres including one with potential multi-decade mine-life.
* 31 March 2023 (AUD)
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