From the Wires
IMX Resources Limited: Appointment of Country Manager, Tanzania
By: Marketwired .
Feb. 6, 2013 07:30 PM
PERTH, AUSTRALIA -- (Marketwire) -- 02/07/13 -- IMX Resources Limited (ASX:IXR)(TSX:IXR)(TSX:IXR.WT) ('IMX' or the 'Company') is pleased to announce the appointment of Heavenlight Edward Kavishe ('Kavishe') as Country Manager, Tanzania, reporting to the Company's Managing Director, Neil Meadows.
As Country Manager, Kavishe will be responsible for general administration at IMX's offices in Dar es Salam, where he will be based, and will work closely with Tanzanian government authorities and industry stakeholders. Kavishe will also support the Company's activities in community relations and regulatory and legal compliance.
While he was born and raised in Tanzania, Kavishe has lived, studied and worked in Bulgaria, the United Kingdom, Japan, Canada and the U.S.A. He holds degrees in Engineering and Business Administration and post-graduate qualifications in business administration, project management, privatization and utility regulation.
Kavishe has held leadership positions within Tanzanian government agencies, including the National Development Corporation and the Parastatal Sector Reform Commission, which was responsible for the restructure and privatization of state owned enterprises under the office of the President of the United Republic of Tanzania.
Managing Director Neil Meadows commented: "Kavishe's appointment enhances our in-house capability and better positions the Company to manage the development of the Ntaka Hill Nickel Sulphide Project and to execute our growth strategy."
NEIL MEADOWS, Managing Director
About IMX Resources Limited
IMX Resources Limited is an Australian based mining and base & precious metal exploration company dual-listed on the Australian and Toronto stock exchanges (ASX:IXR)(TSX:IXR)(TSX:IXR.WT), with exploration projects located in Australia, Africa and North America.
In Africa, IMX owns and operates the highly prospective Nachingwea Exploration Project in southeast Tanzania, which includes the potentially world-class Ntaka Hill Nickel Sulphide project. Nachingwea is highly prospective for nickel and copper sulphide, gold and graphite mineralisation. The Ntaka Hill Nickel Sulphide Project is one of the world's best un-developed nickel sulphide projects and has the potential to produce a very clean, high quality premium nickel concentrate.
In Australia, IMX operates and owns 51% of the Cairn Hill Mining Operation, located 55 kilometres south-east of Coober Pedy in South Australia, where it produces a premium coarse-grained magnetite-copper-gold DSO product at a rate of 1.8Mtpa.
IMX is actively developing the Mt Woods Magnetite Project on the highly prospective Mt Woods Inlier in South Australia. IMX currently has a JORC Inferred Resource of 569Mt @ 27% Fe at the Snaefell Magnetite Deposit and a Global Exploration Target of between 200-380Mt @ 25-35% Fe elsewhere in the project. Studies indicate that coarse grained concentrates that could be produced at Snaefell have the potential to produce a direct sinter feed product which has the potential to attract a significant price premium.
IMX has also entered into a joint venture with OZ Minerals (the Mt Woods Copper-Gold JV Project) to explore the Mt Woods tenements for copper 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 in the non-iron rights and 100% of the iron ore rights.
IMX owns 25.65% of Uranex (ASX:UNX), which is a dedicated uranium exploration company, which is developing the Mkuju Uranium project in southern Tanzania.
Forward-looking Statements: This News Release includes certain "forward-looking statements". Forward-looking statements and forward-looking information are frequently characterised by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may", "will" or "could" occur. All statements other than statements of historical fact included in this release are forward-looking statements or constitute forward-looking information. There can be no assurance that such information of statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such information. Important factors could cause actual results to differ materially from IMX's expectations.
These forward-looking statements are based on certain assumptions, the opinions and estimates of management and qualified persons at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements or information. Such factors include fluctuating metal prices, uncertainty in equity markets and other factors. There can be no assurance that the Proposed Transaction and further activities in connection with the Proposed Transaction will be successfully completed within expected time limits.
IMX undertakes no obligation to update forward-looking statements or information if circumstances should change. The reader is cautioned not to place undue reliance on forward-looking statements or information. Readers are also cautioned to review the risk factors identified by IMX in its regulatory filings made from time to time with the ASX, TSX and applicable Canadian securities regulators.
The TSX does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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