Image Resources NL (IMA.AX) Market Guidance Update
Image Resources NL (ASX:IMA) (FRA:I5R) advised that it has reduced its market guidance for HMC sales for CY2025 from 165-185k dry metric tonnes ("DMT") to 150-170k DMT.
HIGHLIGHTS
- Market guidance for HMC sales for CY2025 lowered by nominal 9% to 150-170k dry metric tonnes (from 165-185k) due primarily to weaker market demand
- All other guidance maintained
- Final repayment date for Prepayment Facilities extended by three months to 30 April 2026
This change was made in collaboration with the Company's offtake partners and was triggered by weaker demand for mineral sands commodities resulting in lower market prices, and secondarily out of concern for further port delays in Q4 due to tidal surge and port congestion.
Market guidance for all other line items (HMC production, cash costs and AISC) have been maintained.
In conjunction with the change in HMC sales guidance, through mutual agreement with the offtakers, the final repayment date for the Prepayment Facilities has been extended from 31 January 2026 to 30 April 2026.
The Company provides the following adjusted Market Guidance for CY2025:
- HMC Production 175-195k DMT (maintained)
- HMC Shipped (Sold) 150-170k DMT (reduced from 165-185k DMT)
- Cash Cost/t HMC Produced A$340-400 (maintained)
- AISC/t HMC Produced A$410-470 (maintained)
Managing Director and CEO Patrick Mutz commented:
"The Company continues to look at methods to reduce operating costs at Atlas, in response to the continuing weaker mineral sands commodities market.
"In response to collaborations with Image's HMC offtake partners regarding the weaker market demand, it was agreed that adjustments to the forecast HMC sales schedule were necessary to better align with lower market demand.
"While the resultant change in market guidance may be considered minor, it represents the Company's willingness to work with its partners to the degree that it can, to respond to market conditions.
"Importantly, to accommodate the change in forecast HMC sales, the offtake partners agreed to allow an extension of the final repayment date for the Prepayment Facilities. This three-month extension aligns well with slightly lower HMC sales whilst maintaining acceptable cash flow for Image."
INVESTORS Patrick Mutz MANAGING DIRECTOR and CEO E. info@imageres.com.au MEDIA Helena Bogle MEDIA CONSULTANT - SPOKE. E. helena@hellospoke.com.au
News Provided by ABN Newswire
