Tag: Image Resources

IMAGE Resources' 100pc-owned, high-grade, zircon-rich Boonanarring mineral sands project, 80km north of Perth, exceeded nameplate capacity in the second month of operation in January 2019. The company achieved profitability in Q1 and was cashflow positive in Q2. At Q3, the company had produced 201.4kt heavy mineral concentrate (HMC) for the year, with full-year guidance lifted to 260-280kt HMC, which the company said reflected the “better than expected operation performance”. The company’s ore processing rates had benefited significantly from the installation of a larger trommel at the feed preparation plant in August, which allowed for an 11pc increase in Q3 to hit 874kt. Image Resources managing director, Patrick Mutz, said that the success of the project in its first year of...

IMAGE Resources managing director Patrick Mutz said the ramp-up to full-scale production at the miner’s Boonanarring project was achieved in only two months (as opposed to six months) after operations started in February, partially due to higher grade ore than expected based on the Ore Reserve. “It was equally due to three very important contributors,” he said. These were a high quality deposit with coarse grained mineralisation and high heavy mineral (HM) grade; the proper matching of plant and equipment with the deposit; and a very experienced workforce. “The rapid ramp-up was beneficial as it contributed to higher than forecast production and revenue,” Mr Mutz said. At the recent Noosa Mining Conference in Queensland, Mr Mutz told investors the company...

Image: Photography: Nathan Sixsmith Photography.   BY EMMA DAVIES   IMAGE Resources’ $235 million Boonanarring mineral sands project is a hive of activity; first shipment of 10,000 tonnes of heavy mineral concentrate (HMC) was achieved in January, with the company now well-placed to capitalise on rising zircon prices. The 100 per cent owned zircon-rich Boonanarring project is considered one of the highest-grade mineral sands projects in Australia. It has been an interesting project to watch over the last few years, in part due to its fast timeline to production brought on by a series of transactions with Murray Zircon in 2016, including the acquisition of key plant infrastructure. In April/May 2018, project funding was finalised and construction began in earnest....

All images: Image Resources.   BY REUBEN ADAMS   THE mineral sands market continues to tighten in 2018 with prices increasing as a result – particularly in zircon. It’s in this positive pricing environment that Image Resources is fast-tracking development of its high-grade, zircon-rich flagship Boonanarring mineral sands project, 80km north of Perth, WA.   Boonanarring is considered one of the highest-grade mineral sands projects in Australia – and about 70 per cent of revenue will come from zircon. The low capital cost, short lead time to production and strong forecast cash flow, coupled with multiple growth options positions Image as an exciting new player in the mineral sands space. Reuben Adams spoke with Image managing director Patrick Mutz.  ...