ANNUAL REPORT 2021
ABOUT IMAGE RESOURCES
Image Resources NL (ASX: IMA) is a mineral sands focused mining company operating an open-cut mine and ore processing facility at its 100%-owned, high-grade, zircon-rich Boonanarring Project, located 80km north of Perth in the infrastructure rich North Perth Basin.
Boonanarring Project
A uniquely rich and valuable mineral sands project.
Social License
Integrated into the local community with an environmentally friendly ethos.
Operational Performance
Demonstrating a solid track record of operational performance.
Growth
Exciting exploration upside and an enviable portfolio of potential development projects.
FOCUSED ON HIGH-VALUE ZIRCON
CONTENTS
Business Review
Our Approach 2
The Value of Mineral Sands 4
Chairman's Report 6
Managing Director's Report 8
Review of Operations 13
Mineral Resources and Ore Reserves Statement 20
Financial Report
Directors' Report 29
Remuneration Report 34
Auditor's Independence Declaration 41
Corporate Governance Statement 42
Consolidated Statement of Profit or Loss 43 and Other Comprehensive Income
Consolidated Statement of Financial Position 44
Consolidated Statement of Changes in Equity 45
Consolidated Statement of Cash Flows 46
Notes to and forming part of the 47 Consolidated Financial Statements
Directors' Declaration 72
Independent Auditor's Report 73
ASX Additional Information 77
2021 HIGHLIGHTS
A$179m
293,000t
CY2021 revenue,
HMC tonnes sold
A$75mA$19m
Project EBITDA,
Net profit after tax
OUR APPROACH
Your company has taken the bold step of successfully demonstrating concurrent mining and mine rehabilitation, by completing rapid rehabilitation of the first thirteen- hectare area of the Boonanarring mine, including re-establishment of the vegetation.
Image Resources NL
SOCIAL LICENSE AND COMMUNITY
Integrated into the local community with an environmentally friendly ethos.
REHABILITATION
Once mining is complete, overburden is returned (as required), topsoil is replaced and the land is re-seeded.
GLOBAL MARKETS FOR MINERAL SANDS Zircon and titanium contained in Image HMC is further processed into final products with a wide range of applications globally.
Integrated into the local community with an environmentally friendly ethos.
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Disclaimer
Image Resources NL published this content on 06 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 April 2022 00:02:02 UTC.