Pursuant to Listing Rule 3.8A, Image Resources NL (ASX: IMA) attaches a copy of ASIC Form 484 lodged today in relation to the cancellation of 1,220,045 fully paid ordinary shares bought back under an employee share scheme buy-back.

Completion of the buy-back was notified to ASX on 10 August 2020.

Image Resources Background Information

Image is Australian's newest mineral sands mining company, operating open-cut mining and ore processing facilities at its 100%-owned, high-grade, zircon-rich Boonanarring Mineral Sands Project located 80km north of Perth, Western Australia, in the infrastructure-rich North Perth Basin. Boonanarring is arguably one of the highest grade, zircon-rich, mineral sands projects in Australia.

Construction and project commissioning were completed on-time and on-budget in 2018. Production of HMC commenced December 2018 and ramped-up to exceed name-plate capacity in only the second month of operation (January 2019).

Image completed its inaugural full year (CY2019) of successful operations with performance exceeding targets in all major categories, including significantly higher HMC production and lower operating costs than forecast. CY2019 market guidance was met after being increased twice during the year.

The Company is focused on maintaining its strong operational and safety performance and has prioritised the identification of new Mineral Resources and Ore Reserves, within economic pumping distance of the current wet concentration plant, to extend the mine life at Boonanarring.

Contact:

Tel: +61 8 9485 2410

Email: info@imageres.com.

(C) 2020 Electronic News Publishing, source ENP Newswire