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Image Resources NL (IMA.AX) Half Year Accounts
Perth, Australia, Aug 20, 2021 - (ABN Newswire) - Image Resources NL (ASX:IMA) continued to build on its success in 2020 to achieve record production in the half year ended 30 June 2021.
The following summarises the key drivers of operational and financial performance for 1H 2021:
- Record heavy mineral concentrate ("HMC") production of 187kt for 1H 2021 compared to 167kt for 1H 2020. Strong HMC production in the March quarter ("Q1") of 85kt was followed by record HMC production in Q2 of 102kt.
- HMC sales of 152kt for 1H 2021 compared to 110kt for 1H 2020 puts the Company on track to meet sales guidance for 2021 of 300,000 to 320,000 tonnes.
- A lower average HMC realised sales price of A $480 per tonne for 1H 2021 compared to A $642 per tonne for 1H 2020 was mainly due to lower average zircon grades in HMC and a stronger A$ versus US$.
- Cost of sales (excluding depreciation and amortisation) of $288 per tonne for 1H 2021 compared to $228 per tonne for 1H 2020 with a key contributor being higher shipping costs.
To view the full half year report, please visit:
About Image Resources NL:
Image Resources NL (ASX:IMA) is a mineral sands focused mining company operating an open-cut mine and ore processing facility at its 100%-owned, high-grade, zircon-rich Boonanarring Project, located 80km north of Perth 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 commenced in December 2018 and HMC production ramped-up to exceed name-plate capacity in only the second month of operation. The Company achieved profitability in Q1 2019 and was cashflow positive in Q2 2019 and is now at steady state production.
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Image Resources NL
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