West Perth WA (FSCwire) - Further to its announcement of 15 June, IMX Resources Limited (ASX: IXR, TSX: IXR, IXR.WT) is pleased to advise that it has now received a cash payment of US$1.7 million (A$2.2 million) from Loricatus Resource Investments (‘Fig Tree’), an investment vehicle on behalf of Mauritius-based mining private equity fund, Fig Tree Resources Fund II.
This payment represents the remainder of the first tranche of US$2.0 million payable by Fig Tree under the Ntaka Hill Nickel Project joint venture agreement. A second tranche of US$4 million is due following a positive outcome of Fig Tree’s sole funded geotechnical study, which must be completed by no later than 7 September 2015 (see ASX announcement 15 June 2015).
About IMX Resources Limited
IMX Resources is an Australian minerals exploration company that holds a 5,800 km2 tenement package at the Nachingwea Property in south-east Tanzania. The Nachingwea Property hosts the Chilalo Graphite Project, the Ntaka Hill Nickel Project and the Kishugu and Naujombo Gold Prospects. IMX’s primary focus is on high-grade, high quality graphite and it is rapidly advancing development of the Chilalo Graphite Project, where there is a high-grade JORC Inferred Resource of 7.4 million tonnes grading 10.7% Total Graphitic Carbon, for 792,000 tonnes of contained graphite. Chilalo is located approximately 220 km by road, from the deep water commercial Mtwara Port, the majority of which is a sealed main road. IMX aims to become a respected supplier of high quality graphite for the clean technology economy.
To find out more, please visit www.imxresources.com.au.
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West Perth WA (FSCwire) - Further to its announcement of 15 June, IMX Resources Limited (ASX: IXR, TSX: IXR, IXR.WT) is pleased to advise that it has now received a cash payment of US$1.7 million (A$2.2 million) from Loricatus Resource Investments (‘Fig Tree’), an investment vehicle on behalf of Mauritius-based mining private equity fund, Fig Tree Resources Fund II.
