Cairn Hill drives IMX profits in March Q
PERTH (miningweekly.com) – ASX-listed IMX Resources has reported a record A$13.4-million cash flow for the three months to March, driven by the company’s majority interest in the Cairn Hill copper operation, in South Australia.
The cash flow was influenced by firm iron-ore prices during the quarter, as well as the improved commercial terms received from new buyers.
IMX reported that total volumes mined for the quarter were less than the mine schedule, primarily as a result of rainfall that occurred in February and March this year, with ore mined reaching 399 816 t during the quarter, down 8.6% on the preceding three months.
For the remainder of the year, the mine plan was expected to continue to focus on developing Pit 1 at the current rate of mining activity.
Ore shipped during the quarter was up 17.1% to 455 149 t, compared with the quarter ended December, with IMX saying that six vessels were scheduled for the June quarter and, for the full year ended June, it was anticipated that total tonnage would reach around 1.7-million tons a year.
During the quarter under review, IMX reached an agreement with a drilling service provider to start targeting copper and gold mineralisation beneath the Cairn Hill mine, with three holes planned.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation














