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imx resources ltd (IXR) Details

IMX Resources Limited is engaged in prospecting, exploring, extracting, and producing minerals primarily in Australia, Tanzania, Mozambique, and India. The company principally explores for iron, gold, nickel, copper, magnetite, base metal, and precious metal deposits. It primarily holds 100% interest in the Nachingwea exploration project that consists of the Ntaka Hill nickel sulphide project and is located in the Lindi and Mtwara regions of south-eastern Tanzania. The company was incorporated in 1985 and is based in North Adelaide, Australia.

Founded in 1985

imx resources ltd (IXR) Top Compensated Officers

Chief Financial Officer
Total Annual Compensation: A$285.7K
Company Secretary
Total Annual Compensation: A$124.0K
General Manager of Cairn Hill Operations
Total Annual Compensation: A$385.5K
General Manager of Exploration
Total Annual Compensation: A$296.1K
General Manager of Projects
Total Annual Compensation: A$286.4K
Compensation as of Fiscal Year 2013.

imx resources ltd (IXR) Key Developments

IMX Resources Limited Announces Geophysics Confirms Large Scale Graphite Potential at Chilalo ­New High Grade Target Identified

IMX Resources Limited announced that it has confirmed and expanded the graphite potential of its Nachingwea property, located in south-east Tanzania after completing initial geophysical analysis on the extensive VTEM survey data sets covering the majority of the company's 6,800 km2 tenement holding, with graphite targets apparent over the entire license area. The VTEM analysis has confirmed that the Chilalo Prospect is the high priority graphite target within the broader Nachingwea Property, with the prospect composed of multiple layers of interpreted graphite horizons ranging in thickness from 50 m to +200 m. The horizons at the Chilalo prospect alone, account for over 54 lineal kilometers of strike. Drilling at Chilalo is expected to commence in October 2014 to test the best targets, confirm the extent of the mineralization, grades, flake size fractions and provide samples for metallurgical test work. In addition, the analysis has identified the Chilalo North Prospect, located to the north-east of Chilalo, which represents as a very high intensity VTEM anomaly, measuring approximately 300 m x 500 m, with the potential to host a significant volume of high-grade graphite mineralization. Three rock chip samples collected from the Chilalo North Prospect have been assayed, returning grades of 17.5%, 17.6% and 19.5% carbon. The geophysical analysis follows the recently reported rock chip results from Chilalo, where 65 rock chip samples returned grades of between 4.8% and 29.6% carbon, with an average grade of 12.9% carbon. A total of 41 rock chips returned grades of greater than 10% carbon. IMX confirms that since announcing these exploration results on 25 July 2014, it is not aware of any new information or data that materially affects the information included in that announcement. The Chilalo Prospect is located within the Usagaran (Mozambique belt) system, which is well known for hosting high-grade, coarse flake graphite deposits such as Syrah Resources Limited's Balama deposit and Uranex Limited's Nachu Project (located immediately adjacent to the Chilalo Prospect on IMX's eastern tenement boundary). IMX has previously intersected graphite at the Ntaka Hill Project, 20 km south-west of Chilalo, whilst targeting nickel sulphide mineralization. Photos of the diamond core from Ntaka Hill show the coarse flake nature of the graphite mineralization, with a similar style of mineralization expected at Chilalo.

MMG Exploration Holdings Not to Exercise its Right to Proceed to Stage 2 of the Joint Venture Agreement with IMX Resources At the Nachingwea Property in South-East Tanzania

IMX Resources Limited announced that MMG Exploration Holdings Limited has notified the company that it will not exercise its right to proceed to Stage 2 of the joint venture agreement at the Nachingwea Property in south-east Tanzania. MMG has met its Stage 1 expenditure commitment of $10 million, which entitles it to an initial 15% interest in the Nachingwea Property.

IMX Resources Limited Announces Executive Changes

IMX Resources Limited announced number of significant management changes at IMX as the board restructures the company to refocus its activities to exploration of its highly prospective Tanzanian assets. Gary Sutherland the company's Managing Director will leave the company effective from 30 September 2014. In addition, John Nitchske, former Chairman and acting Managing director, is resigning as Non-Executive Director, effective 31 July 2014.


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