Image Resources NL (AU:IMA) has released an update.

Image Resources NL reports promising pre-feasibility study results for its Yandanooka project, revealing a pre-tax net present value of A$151 million and a swift capital payback period of 15 months. The project, set to produce 1.04 Mt of heavy mineral concentrate over an 8.2-year mine life, is seen as a potential backup or addition to the company’s Atlas project. Following these results, Image will advance to a bankable feasibility study expected to be completed within the current year.

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