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Atlas achieves first production

(Image source: Image Resources) Ore Feed Preparation Plant
(Image source: Image Resources) Ore Feed Preparation Plant.

Image Resources (ASX: IMA) has achieved first heavy mineral concentrate (HMC) production at the company’s 100%-owned Atlas mineral sands project, 170km north of Perth WA.

Despite construction delays from site evacuations for the bush fire in late November 2024, accelerated construction in December and January resulted in the completion of all major construction activities, allowing a wind down to the remaining non-process infrastructure items.

This is in line with the forecast and associated construction schedule approved by the board in July 2024.

(Image source: Image Resources)
(Image source: Image Resources) First Atlas HMC product.

Image Resources managing director and chief executive Patrick Mutz says this is a significant milestone for the company, on the heels of the successful construction and early-stage commissioning of its second mineral sands project.

“Over the next few months, we will focus on ramping up to name plate capacity, and producing a consistent, high-quality HMC product to maximise revenue,” he said.

“Completing construction on-time and on-budget is a testament to the skill, dedication and teamwork of construction and development personnel, as well as their commitment to safety and efficiency.

“I would like to thank all our construction contractors, including project manager ProjX and mining contractor Piacentini & Son, as well as Image’s development and support teams.

“I look forward to reporting further positive updates as we complete commissioning and ramp up production.”

Image is working through the project commissioning process and is focusing on ramping up to name plate capacity and completing the first HMC shipment/sale and returning to revenue generation early in Q2 CY25.

The company anticipates including CY25 production guidance in its March Quarterly Report.