PERTH (miningweekly.com) – Junior Image Resources has inked an offtake agreement for 100 000 t of heavy mineral concentrate from its current inventory at the Boonanarring mineral sands project, in Western Australia.
The ASX-listed company told shareholders that the agreement with offtake partner Shantou Natford Zirconium and Titanium Co and Guandong Orient Zirconic would span across three to five months, starting in July this year.
Deliveries will be in multiple shipments of 20 000 t and 30 000 t each, and secured by letters of credit, with pricing based on the current market prices and locked for the full 100 000 t to protect against any softening in the market.
“Once again our offtake partners have demonstrated their commitment to acquire Image’s heavy minereal concentrate by stepping up to purchase Image’s surplus inventory even under the current uncertain economic conditions,” said Image MD and CEO Patrick Mutz.
‘This is a great example of the benefits of a positive working relationship. We welcome the support, however, we also look forward to expanding our sales network beyond our current offtake agreements, including, if achievable, broadening our customer base geographically.”