Image Resources has announced first production of heavy mineral concentrate (HMC) at its 100%-owned Boonanarring mineral sands project located 80km north of Perth in the North Perth Basin in Western Australia.
Wet commissioning at Boonanarring commenced on 25 October 2018 and continues to advance on schedule and in accordance with the approved budget and has transitioned to the feeding of ore and the generation of first HMC product.
The initial stages of ore feeding and HMC production are a continuation of wet commissioning of the project, which will continue for a further 2-4 weeks and gradually transition to the start of the processing ramp-up period on the way to steady-state processing operations.
Image Resources managing director Patrick Mutz said: “Production of first HMC product is perhaps the most memorable achievement of every mineral sands project. While the challenge of ramping up the ore processing rate to name plate capacity and achievement of steady state operations is still in front of us, the achievements of completion of construction and first HMC production on schedule provides confidence that the remaining development hurdles will be cleared.”
The Company remains committed to achieving additional key project development milestones including receipt of first revenue in January 2019 and achievement of positive project cash flow at the end of 1st QTR 2019.
Forecast production and financial guidance for 2019 will be announced following finalisation and approval of the 2019 budget in December.
Source: Company Press Release