(MENAFN- ProactiveInvestors - Australia) IMX Resources (ASX: IXR, TSX: IXR, IXR.WT) has added Galena Special Situations Master Fund as a substantial shareholder with a 6.49% shareholding.
This follows Galena acquiring 10 million shares priced at A$0.11 on 28 November 2011, bringing the total shares it owns in IMX up to 25,709,118.
IMX is in the process of selling a 49% interest in the Mt Woods Copper-Gold JV and associated tenements to OZ Minerals (ASX: OZL), giving it cash to continue exploration and evaluation work on the wholly owned Nachingwea property in Tanzania, which hosts the Ntaka Hill Nickel Sulphide Project.
The company has recently delivered a string of positive nickel sulphide results from Ntaka Hill, one of the world's best undeveloped nickel sulphide projects with the potential to produce a very clean, high quality premium nickel concentrate.
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