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I M Quarries Limited (IM1.NSX) Notice of Renewal of Approval

·1-min read
I M Quarries Limited (NSX:IM1)
I M Quarries Limited (NSX:IM1)

I M Quarries Limited (IM1.NSX) Notice of Renewal of Approval

Sydney, Australia, June 14, 2021 - (ABN Newswire) - On 26th July 2018 I M Quarries Limited (NSX:IM1) announced that it had received the Approval to Re-Designate a portion of the Houyao Garnet project for development as a Garnet Mine.

Under the terms of the Approval, the Operating Company has up to the 16th July 2020 to apply for the mining permit for the Houyao Garnet Project.

The company has on the 5th June 2020 received a written notice of renewal of the Approval to designate the project as a Garnet Mine.

The Production Period is expected to be 55 years at a Production Rate of 300,000 tons a year.

There is no expiry date for this renewed Approval.

This means that the Company's operating subsidiary Inner Mongolia Three Crystals Mining Co., Limited can now proceed in a timely manner to prepare other necessary procedures and obtain the necessary approvals leading to a Mining Permit.


About I M Quarries Limited:


I M QUARRIES LIMITED (NSX:IM1) holds the Houyao Garnet Tenement, the company's single largest mining asset, bearing some 20.43 million tonnes of JORC Defined Mineral Resource. The Company strives to seek new assets and investment opportunities to bring even greater shareholder value.

Source:
I M Quarries Limited

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