Image Resources (ASX:IMA) completed three planned shipments of heavy mineral concentrate in the June quarter from its Atlas mineral sands project in Western Australia, according to a Friday Australian bourse filing.
Heavy mineral concentrate sales for the quarter totaled a nominal 35,000 dry tonnes and and total booked revenue was around AU$22 million. The quarter was the first quarter of operation for the project, with total heavy mineral concentrate production for the period at around 45,000 tonnes.
The concentrate was sold under a continuing life-of-mine offtake agreement with its long-standing offtake partner, Shantou Natfort Zirconium and Titanium.
A portion of the revenue from each shipment was used for the repayment of principal under the two HMC prepayment facilities executed in the fourth quarter of 2024.
Its shares rose 8% in recent trading on Friday.
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