Image Resources (ASX:IMA) completed the first sale and shipment of heavy mineral concentrate from its Atlas mineral sands project in Western Australia under a continuing off-take agreement with Shantou Natfort Zirconium and Titanium, according to a Thursday Australian bourse filing.
A bulk shipment of nominal 10,000 wet tonnes of heavy mineral concentrate departed from the Geraldton Port on April 10.
The sale was secured by a letter of credit issued before vessel loading, the filing said. Around 25% of the market value of the shipment was applied as a principal repayment under the $10 million offtake prepayment facility executed with Shantou Natfort in October 2024.
The firm provided a 2025 market guidance of heavy mineral concentrate production of between 175,000 and 195,000 dry metric tonnes, as well as heavy mineral concentrate sales of between 165,000 and 185,000 dry metric tonnes.
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