Image Resources (ASX: IMA) has requested a voluntary suspension from the ASX to give it additional time to complete negotiations relating to a possible share placement transaction.
The company recently confirmed the possibility of fast tracking the production of heavy mineral concentrate from Boonanarring – as the first step to becoming a multi-mine long life producer in the North Perth Basin.
Boonanarring is one of the largest undeveloped high grade heavy mineral resources in Australia, with existing infrastructure and upside exploration potential.
The suspension will end when Image makes an announcement to the market on the placement details.
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