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IMAGE RESOURCES NL Capital/Financing Update 2005
65117_rns_2005-07-31_ab777c65-5376-47ae-8547-d2e75bf9320a.pdf
Capital/Financing Update
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ASX Release 1 August 2005 ASX code: IMA
2nd Floor, 35 Outram St West Perth WA 6005 PO Box 644 West Perth WA 6872 Telephone 08 9485 2410 Facsimile 08 9485 2840 [email protected] www.imageres.com.au
ABN 57 063 977 579
PLACEMENT TO ACCELERATE Ni, U, Au PROGRAMME IN THE FORRESTANIA RAVENSTHORPE REGION
Image Resources will be raising \$1,010,150 via a strategic placement of 3,061,061 shares at \$0.33 each. The placement will be made pursuant to the provisions of section 708 of the Corporations Act 2001 to a number of institutions and sophisticated investors. Image anticipates receiving the placement funds by Wednesday 3 August 2005.
The majority of the funds will be used to accelerate geochemical sampling. electromagnetic and radiometric surveys, and drilling programmes on Image's tenements in the Forrestania-Ravensthorpe region. Following the recent release of government aeromagnetic and radiometric data, Image applied for 48 new exploration licences over selected targets, increasing its landholding in the region to 6550 sq km.
For more information on the company visit www.imageres.com.au
Please direct enquiries to: Roger Thomson Managing Director Phone (08) 9485 2410 Mob 0419 969 183
George Sakalidis Executive Director - Exploration Phone (08) 9485 2410 Mob 0411 640 337
The information in this report that relates to geophysics is based on information compiled by George Sakalidis BSc (Hons), who is a member of the Australasian Institute of Mining and Metallurgy. George Sakalidis is an employee of Image Resources NL. George Sakalidis has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to quality as a Competent Person as defined in the 2004 edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. George Sakalidis consents to the inclusion of this information in the form and context in which it appears in this report.