Name and Location
Ntaka Hill nickel sulphide project, Tanzania.

Client
IMX Resources.

Project Description
The Ntaka Hill nickel sulphide project, which forms part of the Nachingwea property, has the potential to emerge as one of the world’s best undeveloped nickel sulphide projects.

The project hosts a current measured and indicated resource of 20.3-million tonnes at 0.58% nickel and 0.13% copper for 117 880 t of contained nickel. The project also hosts an inferred resource of 35.9-million tonnes, at 0.66% nickel and 0.14% copper for 238 500 t of contained nickel.

Average yearly contained nickel production is estimated at 10 000 t to 15 000 t. The mine is expected to have a life of 15 years.

Value
The project will entail a preproduction capital investment of $227-million.

Duration
The project, currently under development, is planned to be brought into production in 2015, with the first product shipment expected in early 2016.

Latest Developments
IMX Resources has reported that it has received strong interest for its Ntaka Hill nickel project, after joint venture (JV) partner MMG Exploration withdrew from the project in August 2014.

MMG withdrew from the Ntaka Hill JV after failing to triple the resource estimate at the project, despite an extensive drilling campaign.

IMX has indicated that the continuing appreciation in the nickel metal price has brought international attention to undeveloped deposits, particularly sulphide style mineralisation such as Ntaka Hill and has opened its data room on the project.  It says it has received "strong interest from a number of parties".

IMX acting CEO Phil Hoskins says the company’s aim is to secure a transaction for Ntaka Hill to enable shareholders to benefit from the value of this asset, while enabling IMX to focus on the rapid assessment of the emerging Chilalo graphite project and drill testing the Kishugu gold target.

“We are very pleased with the strong interest we have received in progressing Ntaka Hill to the next stage. The exploration that has been conducted to date indicates there is potential to establish a nickel project at Ntaka Hill, and there are numerous untested targets which suggest the project has significant exploration upside.”

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
IMX Resources, tel +61 8 9388 7877, fax +61 8 9382 2399 or email info@imxresources.com.au.
MMG Exploration Holdings, tel +61 3 9288 0888 or fax +61 3 9288 0800.