IMX Resources (ASX:IXR) has appointed acting chief executive officer Phil Hoskins as its permanent chief executive officer.
He has steered the company through some important recent changes, including the successful divestment of its Australian iron ore assets and its repositioning as an emerging exploration company focused on its Nachingwea Property in Tanzania.
This culminated in the recently announced joint venture agreement on the company’s non-core Ntaka Hill Nickel Project with a leading mining private equity fund that, subject to completion, will deliver US$5.88 million (A$7.6 million) in cash.
The announcement of this joint venture agreement also allowed IMX to place the shortfall from its recent rights issue, raising A$1.7 million in December 2014.
IMX is also continuing work on the rapid assessment of development options on its Chilalo Graphite Project in south-eastern Tanzania with a resource estimate expected in the coming weeks.
Metallurgical testwork is well advanced with initial positive results confirming a rapid assessment of development options.
Early stage interest has been expressed in product offtake, plant design, procurement and construction as a result of positive reviews of the initial data and marketing samples.
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