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Image Resources NL (ASX:IMA)

ALERT: Price-sensitive ASX Announcement for IMA
Current share price for IMA : $0.020 -0.027 (-57.45%)+
Announcement
Release
19 Mar 2026 9:40AM
Price at Release
$0.047
Full Release
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Summary
Image Resources NL announced an extension of its Prepayment Facilities with its heavy mineral concentrate offtake partners. The terms include extending the facility to December 2026 and introducing a six-month repayment holiday beginning in March 2026, during which no repayment at zero cost is required from HMC shipments. This extension is designed to aid cashflow management amid a softer mineral sands market. The outstanding loan balance was US$8.95 million at the end of February 2026. The original US$20 million facility was secured with Shantou Natfort Zirconium and Titanium Co., Ltd., and funds were used for the Atlas project development.
Key Points
  • Image Resources NL has negotiated adjustments to the terms of its Prepayment Facilities with heavy mineral concentrate offtake partners.
  • The agreements' terms have been extended to December 2026 with a six-month facility repayment holiday starting March 2026.
  • The repayment holiday waives the requirement for a notional 20% of each HMC shipment at zero cost during this period.
  • The full market value of HMC shipments during the holiday period will be paid by offtakers.
  • At the end of February 2026, the outstanding balance on the original US$20 million loan was US$8.95 million, including accrued interest.
  • The original binding HMC offtake prepayment facility was secured in October 2024 with Shantou Natfort Zirconium and Titanium Co., Ltd.
  • Funds from the Prepayment Facilities have been used as working capital for the development of the Atlas project.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.