IMX Resources Wins Advantage SA Far North Large Business Award
WEST PERTH, AUSTRALIA, Oct 30, 2012 (Menafn - MARKETWIRE via COMTEX) --IMX Resources Limited (asx:IXR) has won aprestigious regional award, which celebrates and showcases businessesthat have made a significant contribution to regional SouthAustralia.
The award, The Westpac Large Business Award, is part of the AdvantageSA Regional Awards held each year.
IMX Resources Managing Director Neil Meadows said the awardrecognises the achievements made by IMX Resources through its miningand exploration activities in the far north of South Australia and inparticular to the Coober Pedy community, which is near the company'sCairn Hill mine.
"IMX Resources prides itself on actively making a difference to thecommunities in which we operate, through employment, localsponsorships and buying local goods and services," said Mr Meadows.
"Since mining operations commenced at Cairn Hill in early 2010, thecompany has directly injected around 4 million into the Coober Pedyeconomy, not including wages, which in turn has helped to supportnumerous local businesses and service providers within the town.
"We have worked hard to become a constructive part of Coober Pedy andI think the community recognises this."
Mr Meadows also said the award acknowledged the positive input miningmakes to not only regional South Australia, but to the whole state.
Mayor of Coober Pedy, Steve Baines, was delighted with the news.
"IMX Resources makes a great effort to minimise the negative impacton the town and maximise the positives. Some of the impacts mininghas on host communities are outside the control of companies but somearen't. IMX's local living allowance is an excellent incentive thatencourages their mine employees to remain in or relocate to the town.Also, taking over funding of the Breakfast Program at the schooldemonstrates IMX's desire to make a positive difference in thecommunity," said Mayor Baines.
The award recognises the success of large regional businesses andenterprises, with over ten-full-time employees, through the creationof new job opportunities and the many advantages of business beingconducted on a State and local level.
The Cairn Hill mining and export operation directly employsapproximately 180 South Australians (and around 25 from interstate)throughout the logistics chain. With the application of the miningmultiplier effect, the Cairn Hill project has generated around 720jobs in the State, which includes around 200 jobs in the Far Northregion.
Winners received a framed certificate signed by the Premier of SouthAustralia and an honorary regional membership to Advantage SA in2013.
Advantage SA will hold a Regional Awards State Finale at theInterContinental Adelaide on 30 November, where all category winnersfrom the seven regions will be celebrated.
About IMX Resources Limited
IMX Resources Limited is an Australian based mining and base &precious metal exploration company dual-listed on the Australian andToronto stock exchanges (asx:IXR), withexploration projects located in Australia, Africa and North America.
In Africa, IMX owns and operates the highly prospective NachingweaExploration Project in southeast Tanzania, which includes thepotentially word-class Ntaka Hill Nickel Sulphide project. Nachingweais highly prospective for nickel and copper sulphide, gold andgraphite mineralisation. The Ntaka Hill Nickel Sulphide Project isone of the world's best un-developed nickel sulphide projects and hasthe potential to produce a very clean, high quality premium nickelconcentrate.
In Australia, IMX operates and owns 51% of the Cairn Hill MiningOperation, located 55 kilometres south-east of Coober Pedy in SouthAustralia, where it produces a premium coarse-grainedmagnetite-copper-gold DSO product at a rate of 1.8Mtpa.
IMX is actively developing the Mt Woods Magnetite Project on thehighly prospective Mt Woods Inlier in South Australia. IMX currentlyhas a JORC Inferred Resource of 569Mt @ 27% Fe at the SnaefellMagnetite Deposit and a Global Exploration Target of between200-380Mt @ 25-35% Fe elsewhere in the project. Studies indicate thatcoarse grained concentrates that could be produced at Snaefell havethe potential to produce a direct sinter feed product which has thepotential to attract a significant price premium.
IMX has also entered into a joint venture with OZ Minerals (the MtWoods Copper-Gold JV Project) to explore the Mt Woods tenements forcopper and gold. OZ Minerals is spending a minimum of 20M for a 51%interest in the non-iron rights, with IMX retaining a 49% interest inthe non-iron rights and 100% of the iron ore rights.
IMX owns 25.65% of Uranex (asx:UNX), which is a dedicated uraniumexploration company, which is developing the Mkuju Uranium project insouthern Tanzania.
FORWARD-LOOKING STATEMENTS: This News Release includes certain"forward-looking statements". Forward-looking statements andforward-looking information are frequently characterised by wordssuch as "plan," "expect," "project," "intend," "believe,""anticipate", "estimate" and other similar words, or statements thatcertain events or conditions "may", "will" or "could" occur. Allstatements other than statements of historical fact included in thisrelease are forward-looking statements or constitute forward-lookinginformation. There can be no assurance that such information ofstatements will prove to be accurate and actual results and futureevents could differ materially from those anticipated in suchinformation. Important factors could cause actual results to differmaterially from IMX's expectations.
These forward-looking statements are based on certain assumptions,the opinions and estimates of management and qualified persons at thedate the statements are made, and are subject to a variety of risksand uncertainties and other factors that could cause actual events orresults to differ materially from those projected in theforward-looking statements or information. These factors include theinherent risks involved in the exploration and development of mineralproperties, the uncertainties involved in interpreting drillingresults and other geological data, fluctuating metal prices, thepossibility of project cost overruns or unanticipated costs andexpenses, the ability of contracted parties (including laboratoriesand drill companies to provide services as contracted); uncertaintiesrelating to the availability and costs of financing needed in thefuture and other factors. Mineral resources that are not mineralreserves do not have demonstrated economic viability. ExplorationTarget tonnage quantity and grades estimates are conceptual in natureonly. These figures are not resource estimates as defined by the JORC(2004) or NI 43-101, as insufficient exploration has been conductedto define a mineral resource and it is uncertain if furtherexploration will result in the target being delineated as a mineralresource.
IMX undertakes no obligation to update forward-looking statements orinformation if circumstances should change. The reader is cautionednot to place undue reliance on forward-looking statements orinformation. Readers are also cautioned to review the risk factorsidentified by IMX in its regulatory filings made from time to timewith the ASX, TSX and applicable Canadian securities regulators.
CAUTIONARY STATEMENT: The TSX does not accept responsibility for theadequacy or accuracy of this release. No stock exchange, securitiescommission or other regulatory authority has approved or disapprovedthe information contained herein.
IMX Resources Limited
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SOURCE: IMX Resources Limited
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