IMX Receives US$1.7m (A$2.2m) Cash Payment from Fig Tree
29.06.2015 | FSCwire
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.
PHIL HOSKINS
Chief Executive Officer
For further information, please contact:
IMX Resources Limited
Phil Hoskins, Chief Executive Officer
Tel: +61 8 9388 7877
Stuart McKenzie, General Manager Commercial and Company Secretary
Tel: +61 8 9388 7877
Media
Nicholas Read/Paul Armstrong – Read Corporate
Telephone: +61 8 9388 1474
E: info@readcorporate.com.au