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I-Minerals Inc Negotiates Repayment of Outstanding Indebtedness
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Press Release - MINING COM
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I-Minerals Inc Negotiates Repayment of Outstanding Indebtedness
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I-Minerals Inc Negotiates Repayment of Outstanding Indebtedness
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I-Minerals Inc. Negotiates Repayment of Outstanding Indebtedness
Vancouver, British Columbia (Newsfile Corp. - May 14, 2021) - I-Minerals Inc. (TSXV: IMA) (OTC Pink: IMAHF) announces that the repayment date for loans from a company controlled by its Chairman Allen Ball amounting to approximately $33,792,324 together with all accrued and unpaid interest thereon, has been extended until June 15, 2021.
About I-Minerals Inc.
I-Minerals is an exploration and development company that is advancing the Bovill kaolin-halloysite property in north central Idaho. A March 2020 Prefeasibility Study on the Bovill Property envisaging annual production of 20,000 tons of kaolin and 10,000 tons of halloysite estimated initial CAPEX at US$48 million with a 20% pre-tax, 18% after tax IRR and a US$ 48 million pre-tax, US$34 million after tax NPV10%.