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Image Resources will be Sheffield Resources' 211 million tons of mineral resources.
The average taste of heavy minerals is 3.
0%, and it is expected to contain 6.
3 million tons of total heavy minerals, including a strategy to acquire a package of mineral rights
.
Image Signed a series of binding agreements to obtain approximately 8 exploration licenses, 3 mining leases and a retention license from Sheffield, which will effectively double the company's existing resources
.
Image will use its existing cash reserves to pay (approximately A$50 million as of September 30, 2021) for the acquisition
.
According to the company, the acquisition will not change the current development plan for its 100% owned Atlas deposit, which is scheduled to start production in early 2023, when it expected the Bonanarring project to cease production
.
Image is also continuing to advance the feasibility study of its 100% owned Bidaminna project, which may be run as an independent project parallel to Atlas
.
It said that in future dry mining operations, Eneabba Resources may increase its ore processing rate from 500 tons per hour to 1,000 tons per hour
.
Although the stripping ratio of Eneabba tenement is 0.
2:1 and Atlas is 1:1, the latter's ore grade advantage is 6% of the total heavy minerals, while Eneabba is 2.
8%
.
Image set the quarterly production record of Boonaarrina in the 6th quarter of 2021.
The production of heavy mineral concentrates exceeded 100.
000 tons.
By 2021, the market prices of ilmenite and rutile have been rising, and zircon is rapidly catching up, as the world gets rid of COVID-19 trade restrictions, demand is expected to increase
.
The average taste of heavy minerals is 3.
0%, and it is expected to contain 6.
3 million tons of total heavy minerals, including a strategy to acquire a package of mineral rights
.
Image Signed a series of binding agreements to obtain approximately 8 exploration licenses, 3 mining leases and a retention license from Sheffield, which will effectively double the company's existing resources
.
Image will use its existing cash reserves to pay (approximately A$50 million as of September 30, 2021) for the acquisition
.
According to the company, the acquisition will not change the current development plan for its 100% owned Atlas deposit, which is scheduled to start production in early 2023, when it expected the Bonanarring project to cease production
.
Image is also continuing to advance the feasibility study of its 100% owned Bidaminna project, which may be run as an independent project parallel to Atlas
.
It said that in future dry mining operations, Eneabba Resources may increase its ore processing rate from 500 tons per hour to 1,000 tons per hour
.
Although the stripping ratio of Eneabba tenement is 0.
2:1 and Atlas is 1:1, the latter's ore grade advantage is 6% of the total heavy minerals, while Eneabba is 2.
8%
.
Image set the quarterly production record of Boonaarrina in the 6th quarter of 2021.
The production of heavy mineral concentrates exceeded 100.
000 tons.
By 2021, the market prices of ilmenite and rutile have been rising, and zircon is rapidly catching up, as the world gets rid of COVID-19 trade restrictions, demand is expected to increase
.
