Image Resources NL (ASX:IMA) Quarterly Activities Report
Quarterly Activities ReportPerth, July 29, 2021 AEST (ABN Newswire) - Image Resources NL (
ASX:IMA) is pleased to report record high quarterly HMC production for the June quarter, breaking the previous record set in Q1 2021, from its 100%-owned, high-grade, zircon-rich Boonanarring mineral sands project, located 80km north of Perth in the North Perth Basin in WA.
Continued strong HMC production, due to higher than expected HM ore grades, and relatively high HMC stock levels, provides a firm base for the Company to meet its CY2021 production and sales guidance. Higher commodity prices and a recent more favourable FX could support the conversion of additional Mineral Resources to Ore Reserves which in turn could extend mine life at Boonanarring into FY2023 and thus delay the planned move to Atlas.
Mineral Resources subsidiary secures rig for exploration gas drilling in Perth Basin
The beginning of drilling later this month will be a milestone for the company’s subsidiary as it signifies the start of an extensive conventional gas exploration program. The company is fully committed to achieve net-zero emissions by 2050.
Mineral Resources Limited’s (ASX: MIN) wholly-owned subsidiary Energy Resources Limited (ERL) has secured a rig to drill conventional gas exploration well Lockyer Deep 1 in the onshore Perth Basin, Western Australia.
Lockyer Deep Prospect is on exploration permit EP368, in the highly prospective northern section of the Perth Basin that is host to several recent conventional gas discoveries.
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Exploration Incentive Scheme offers over $6.56 million in co-funding to WA projects
Inaugural Energy Analysis Project co-funding initiative offers funding to applicants
Economic modelling reveals a $31 million benefit to WA for every $1 million invested
The State Government has announced the successful applicants for Round 23 of the Exploration Incentive Scheme (EIS) co-funded drilling program and the inaugural co-funded Energy Analysis Project (EAP) program.
The Department of Mines, Industry Regulation and Safety received 84 applications for the drilling program and 12 applications for the EAP program.
For Round 23, $6.3 million in grants was offered to projects across Western Australia, which includes an additional $1.3 million from the McGowan Government’s WA Recovery Plan.