On 14 November 2011, IMX Resources Limited called on its joint venture partner, Taifeng Yuanchuang International Development Co., Ltd to pay by 28 November 2011 its 49% share (A$4,121,601) of Cairn Hill expenditure under the Heads of Agreement between IMX and Taifeng dated 29 December 2009. Continue reading
Resources developer, IMX Resources Limited (ASX:IXR) is pleased to announce that it has received $14.6 million from private Chinese investor Sichuan Taifeng.
IMX Board will use these funds to continue the development of the Cairn Hill Phase 1 project in South Australia. Importantly, shipping is expected to commence in mid to late Q3. Continue reading
Resources developer, IMX Resources Limited is pleased to announce a major funding milestone with the signing of a Heads of Agreement (“HOA”) with Taifeng Yuanchuang International Development Co Ltd (Taifeng), the Hong Kong subsidiary of the privately owned Sichuan Taifeng Group Co Ltd.
Taifen Yuanchuang will invest a minimum of $47.1 million by: contributing approximately $23 million to become a 50% equity partner in the development of the Cairn Hill Phase 1 magnetite – copper – gold project and other developments in ML6303; and subscribing a minimum $24.1 million to become a 19.9% shareholder in IMX, at a subscription price of 48.4 cents per share, representing a 25% premium over the 30 day VWAP. Continue reading