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Geraldton Port Bulls N' Bears 17 Apr 2025

Image passes milestone with first Atlas mineral sands shipment

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Image Resources has shipped its first heavy mineral concentrate from its new Atlas project in the Dandaragan shire, 170km north of Perth, under an existing off-take agreement used for its previous Boonanarring project. The company shipped a nominal 10,000 tonnes of wet HMC from the port of Geraldton last week, just two months after commissioning the plant.

IMAGE_ATLAS_BULLSNBEARSWA Bulls N' Bears 17 Mar 2025

Image trucks first HMC to Geraldton ready for shipping

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Image Resources has kicked off heavy mineral concentrate transport from the company's new Atlas mineral sands mine in WA's Mid West region, by trucking its first batch to Geraldton ready for shipping. Process commissioning at Atlas began early last month and is ahead of schedule, the company says. Throughput rates are up to 80 per cent of the design capacity and the plant is operating at 95 per cent of its capacity.

IMAGE_ATLAS_BULLSNBEARSWA Bulls N' Bears 20 Feb 2025

Image lands first production at WA Atlas heavy minerals project

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Image Resources has landed first production of heavy mineral concentrate at its Atlas project, 170 km north of Perth, marking a key step in the company's plan to expand its mineral sands footprint and achieve planned revenue growth by mid-2025. The mine achieved its first production during early-stage commissioning this month. Despite bushfire evacuations last year, accelerated construction has since kept the project on schedule with initial forecasts.

Image banks US$20m for offtake at new WA mineral sands mine Bulls N' Bears 24 Oct 2024

Image banks US$20m for offtake at new WA mineral sands mine

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Image Resources has locked in a US$20 million offtake pre-payment from Shantou Natfort Zirconium and Titanium Co, its key Chinese heavy minerals concentrate partner. The deal will provide funding to support the construction of the company's 100%-owned Atlas mineral sands project, 170 kilometres north of Perth. Drawdown should occur in two tranches of US$10 million each in November and January.

Image fires starting gun on new WA mineral sands play Bulls N' Bears 18 Oct 2024

Image fires starting gun on new WA mineral sands play

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Image Resources has targeted a mid-2025 start to heavy mineral concentrate production at its Atlas project, 170km north of Perth, after securing essential water licences to accelerate construction. The milestone has now offered a clear timeline for renewed cash flows - expected to be $62m pre-tax over two years - almost two years after shutting down the successful Boonanarring project, located 100km south of Atlas.

Image gets nod to launch into onsite Atlas construction Bulls N' Bears 09 Aug 2024

Image gets nod to launch into onsite Atlas construction

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Image Resources has confirmed it has received the final approvals it needs to kick off the long-awaited onsite construction of its Atlas heavy mineral sands project in Western Australia's Perth Basin. The company says it has now secured the vital go-ahead from the Federal Government after it satisfied proposed conditions relating to the Atlas development under the Environment Protection and Biodiversity Conservation Act.

New approval strengthens Image plans for Atlas sands Bulls N' Bears 31 Jul 2024

New approval strengthens Image plans for Atlas sands

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Image Resources is continuing its push towards the construction of its Atlas heavy mineral sands project in Western Australia's North Perth Basin after sealing State Government approval for its mining proposal. The approval from the WA Department of Energy, Mines, Industry Regulation and Safety is another step forward along the development path for the project located 170km north of Perth.

Image flexes muscle to prepare new Atlas mineral sands play Bulls N' Bears 11 Jun 2024

Image flexes muscle to prepare new Atlas mineral sands play

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Image Resources has launched the on-ground construction activity for its Atlas heavy mineral sands project in Western Australia's North Perth Basin as management ramps up the operation's proposed development. The company plans to soon start building a new accommodation camp at Atlas and will also dismantle and transfer the wet concentrator from its now-completed Boonanarring mining project.

Image gets environment thumbs-up for mineral sands project Bulls N' Bears 23 May 2024

Image gets environment thumbs-up for mineral sands project

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Image Resources has edged a step closer to its mining plans at its high-grade Atlas mineral sands project 90km north of Boonanarring in Western Australia after securing environmental approval for the proposed development. Atlas' 18 million-tonne resource features a heavy mineral grade of 6 per cent, including 9.3 per cent zircon, 46 per cent ilmenite, 4 per cent leucoxene and 6.5 per cent rutile.

Image to spit out $277m EBITDA a year with WA mineral sands Bulls N' Bears 19 Apr 2024

Image to spit out $277m EBITDA a year with WA mineral sands

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Image Resources has revealed a compelling prefeasibility study for its 100 per cent-owned Yandanooka mineral sands project north of Perth in Western Australia, showing an annual EBITDA of $277 million for more than eight years and a capital payback of just 15 months. The project is modelled to produce 1.04 million tonnes of heavy mineral concentrate during its 8.2-year mine life.

Image edges closer to development of WA mineral sands project Bulls N' Bears 08 Apr 2024

Image edges closer to development of WA mineral sands project

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Image Resources has taken a key step towards the development of its Atlas mineral sands project in Western Australia after no formal objections were lodged for the implementation of the company's development proposal. The outcome could speed up the group's return to mining by several months, with the process now moving towards final ministerial approval.

Image gets EPA green light for WA mineral sands project Bulls N' Bears 14 Mar 2024

Image gets EPA green light for WA mineral sands project

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The Environmental Protection Authority has given Image Resources conditional approval to push ahead with the development proposal for its Atlas mineral sands project in Western Australia's North Perth Basin. The company says that while the recommendation for its 100 per cent-owned project will now undergo a three-week review period, it believes it is now a matter of “when”, not “if” Atlas will proceed.

Image flexes muscles for Atlas mineral sands move Bulls N' Bears 30 Jan 2024

Image flexes muscles for Atlas mineral sands move

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A cashed-up Image Resources is focused on relocating its mining and ore processing operations to its wholly-owned Atlas project in Western Australia's North Perth Basin after making significant progress with approvals. Atlas is a high-grade mineral sands mine containing 5.5 million tonnes of ore reserves at 9.2 per cent total heavy minerals (HM) and 96 per cent contained HM in the proven category.

Mineral sands sales boost Image coffers by $22m Bulls N' Bears 28 Nov 2023

Mineral sands sales boost Image coffers by $22m

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Image Resources is cashed-up and charging towards the next phase of its life as a mining company after today pocketing $22 million from the final shipment of mineral sands from its Boonanarring project in Western Australia. The company says its coffers have been boosted to about $50 million and it is preparing to use the funds on a basket of highly-prospective projects.

Ilmenite conversion boosts Bidaminna potential for Image Bulls N' Bears 09 Aug 2023

Ilmenite conversion boosts Bidaminna potential for Image

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Hard on the heels of a recently-completed prefeasibility study, Image Resources has reported positive results from beneficiation testwork involving the conversion of ilmenite from its Bidaminna mineral sands project to synthetic rutile. The company believes it could offer an opportunity to enhance the processing, economic, marketing and ore utilisation considerations of its project in Western Australia's North Perth Basin.

Image Resources bumps up bottom line by $12.5 million Bulls N' Bears 31 Jul 2023

Image Resources bumps up bottom line by $12.5 million

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Higher zircon grades and increasing demand for heavy mineral concentrate (HMC) has had Image Resources ringing its till, with a bottom-line boost of nearly $12.5 million revealed in its quarterly report today. The company also increased HMC production quarter on quarter by six per cent at its Boonanarring minerals sands project near the Western Australian town of Gingin.

Image mineral sands mine to make $36m a year for 10.5 years Bulls N' Bears 27 Jun 2023

Image mineral sands mine to make $36m a year for 10.5 years

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Image Resources has tabled a prefeasibility study on its proposed new Bidaminna mineral sands project in WA that estimates a total EBITDA for its contemplated 10.5-year mine life of $379 million. Management says it will cost $194 million to build the mine which should yield a net present value of about the same figure.

Image production jumps 18 per cent at mineral sands project Bulls N' Bears 28 Apr 2023

Image production jumps 18 per cent at mineral sands project

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Image Resources has lifted the heavy mineral content production from its Boonanarring mineral sands project north of Perth by 18 per cent during the March quarter, compared to the previous three-month period. According to the company's latest quarterly report, the production increase is due to higher ore grades, despite a decrease in the amount of ore tonnes processed.

Image ponders separation plant for mineral sands project Bulls N' Bears 30 Mar 2023

Image ponders separation plant for mineral sands project

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Image Resources has found a silver lining in unforeseen delays caused by a labour shortage, revealing it has used the extra time to consider adding a mineral separation plant to its Bidaminna mineral sands project. The company says the delays have slowed its prefeasibility study, but also allowed it to assess the potential production of only heavy mineral concentrate at the operation, with positive results.

Atlas mineral sands the next steps for Image Bulls N' Bears 29 Mar 2023

Atlas mineral sands the next steps for Image

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Image Resources is fast approaching ‘mission complete' at its high-grade Boonanarring mineral sands project 80km north of Perth with the company expecting the ore reserves to be depleted by mid-year. The company has had a stellar run at the project, generating a tidy $50m bank balance while eliminating its debt ahead of schedule and paying out a maiden dividend to shareholders in the process. Image now has its eyes firmly trained on its next target, the Atlas mineral sands deposit near WA's Wheatbelt town of Cervantes.

Heavy minerals resource boost for Image at WA project Bulls N' Bears 28 Feb 2023

Heavy minerals resource boost for Image at WA project

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Image Resources has upgraded its Bidaminna mineral sands project with a seven per cent resource increase to 109 million tonnes and a whopping 15 per cent increase in grade to 2.5 per cent total heavy minerals. Total contained heavy minerals also increased 23 per cent to 2.8 million tonnes. Bidimanna is part of the company's existing profitable mineral sands operation approximately 120km north of Perth.

Image Resources upbeat for mineral sands production in 2023 Bulls N' Bears 31 Jan 2023

Image Resources upbeat for mineral sands production in 2023

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Mineral sands producer Image Resources has posted a productive quarter with higher ore tonnes processed than forecast at its flagship wholly owned, high-grade, zircon-rich Boonanarring mineral sands project, located 80km north of Perth in the North Perth Basin in WA. Lower ore grades were partially offset by the higher production and heavy mineral concentrate sales were in line with forecast.

Drill program extends Goldfields mineralisation for Image Bulls N' Bears 18 Jan 2023

Drill program extends Goldfields mineralisation for Image

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ASX-listed Image Resources has extended its gold mineralisation at the company's Erayinia-King project to the north after receiving solid assay results from its latest drill campaign at the site near Kalgoorlie. The explorer and minerals sands miner says the recent infill program recorded significant gold intercepts in the central section of the northern mineralised zone that had previously seen limited drilling exploration.

Another quarter of solid financial results for Image Bulls N' Bears 27 Oct 2022

Another quarter of solid financial results for Image

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Image Resources has posted another successful quarter of operations at its Boonanarring mineral sands project just 80km north of Perth in WA, despite rising inflation and a tight labour market. The company generated $39 million in revenue and ended the financial quarter with a net cash position of $53.2 million up from $47.9 million last quarter.

Image lands mining extension at WA mineral sands project Bulls N' Bears 09 Sep 2022

Image lands mining extension at WA mineral sands project

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Mineral sands producer Image Resources has executed a land access agreement that will allow it to extend mining operations at its wholly-owned Boonanarring project near Perth in WA. The deal enables the miner to access raw material from the operation's south thereby curtailing a production gap brought on by relocating processing equipment to its Atlas deposit that is next in line to be brought into production.

Revenue soars as Image boosts WA mineral sands resource Bulls N' Bears 29 Jul 2022

Revenue soars as Image boosts WA mineral sands resource

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Image Resources has tabled a successful quarter of operations at its Boonanarring mineral sands project in WA despite rising costs. The company posted revenue of $54.6 million, up 46 per cent from the previous period. Image ended the financial year with a net cash position of $47.9 million. The mineral sands producer also expanded its total mineral resource to 6.4 billion tonnes after expanding its Eneabba tenement deal.

Image scores fruitful quarter at WA mineral sands project Bulls N' Bears 29 Apr 2022

Image scores fruitful quarter at WA mineral sands project

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ASX-listed Image Resources says it has successfully navigated another challenging quarter at its wholly-owned Boonanarring mineral sands project, 80kilometres north of Perth in Western Australia. The company's quarterly report shows the average realised price per tonne of its heavy mineral concentrate set a new quarterly record despite lower production and sales over the previous period.

Image board sees off Chinese backed spill motion in close win Bulls N' Bears 24 Mar 2022

Image board sees off Chinese backed spill motion in close win

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In a win for minor shareholders of successful mineral sands producer Image Resources, board members have seen off an attempt by large Chinese backed activist shareholder Murray Zircon Pty Ltd to dispense with directors who delivered almost $20m profit for the company last year. Ninety-six per cent of voting shareholders voted against the six spill motions albeit the vote was close given Murray Zircon's substantial holding.

Image pays $12m for monster mineral sands play Bulls N' Bears 14 Mar 2022

Image pays $12m for monster mineral sands play

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ASX-listed Image Resources has picked up an astounding 84Mt of contained total heavy mineral sands and a staggering 75Mt of contained valuable “heavy” minerals in a $12 million cash deal with Sheffield. The new project comes gift wrapped with a massive 5.8Bt mineral resource going 1.4 per cent total heavy minerals and represents an incredible 20-fold increase in the overall tonnes accessible by dry mining for Image.

New heavy minerals for Image Resources Bulls N' Bears 11 Mar 2022

New heavy minerals for Image Resources

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Image Resources has tabled a timely resource update on seven of the eight projects recently acquired in WA's historic Eneabba mineral sands mining district, located 275km north of Perth. The total mineral resources for all seven stands at 199Mt grading 2.8 per cent THM with 5.5Mt of contained heavy minerals at 84 per cent VHM.

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