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Image Resources NL (ASX:IMA)

ALERT: Price-sensitive ASX Announcement for IMA
Current share price for IMA : $0.020 0.002 (11.11%)+
Announcement
Release
31 Jul 2026 6:19PM
Price at Release
$0.018
Full Release
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Summary
Image Resources NL reported its quarterly activities ending 30 June 2026, highlighting the challenges and achievements during the period. Heavy Mineral Concentrate production was slightly reduced due to adverse weather conditions, leading to 11 days of lost mining production. Despite this, the company managed to sell nearly the same amount of HMC as produced, with increased revenue per tonne. Operating costs were affected by rising diesel prices but remained within annual guidance. The company deferred repayments under its Prepayment Facility and noted a healthy cash position at quarter-end. Corporate developments included the conclusion of an Annual General Meeting and significant progress in the Erayinia King Gold Project, showcasing the company's ongoing efforts to enhance project portfolios and operational efficiencies.
Key Points
  • Image Resources NL reported a production of 59K dry metric tonnes (DMT) of Heavy Mineral Concentrate (HMC) in Q2 2026, down from 69K DMT in Q1 due to weather-related disruptions.
  • The company generated A$24.3 million from HMC sales, with an increase in revenue per tonne to A$414/DMT.
  • C1 Operating Costs during the quarter were A$331/DMT, impacted by higher diesel costs, but within the annual guidance range.
  • All-In Sustaining Costs (AISC) for the quarter were A$424/DMT, aligning with the CY2026 guidance.
  • Prepayment Facility repayments were deferred during the quarter, with plans to resume in September 2026.
  • Closing cash and cash equivalents stood at A$12.9 million by the end of June 2026.
  • Annual General Meeting was held on 28 May 2026.
  • Erayinia King Gold Project saw a major drilling program completion and plans for a Pre-Feasibility Study.
  • A forfeiture application related to a project was withdrawn by mutual agreement.
  • Quarterly cash flow activities reported a net cash inflow from operations and a slight cash outflow from investing activities.
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.