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IMAGE RESOURCES NL Capital/Financing Update 2007
65117_rns_2007-03-25_427cda43-6e59-4ca0-8af7-c5fa9b3db891.pdf
Capital/Financing Update
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ASX Release 26 March 2007 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
MAGNETIC IPO CLOSES HEAVILY OVERSUBSCRIBED
The directors of Image Resources are pleased to report that the Magnetic Resources NL (proposed ASX code: MAU) initial public offering has raised \$5M and closed heavily oversubscribed by a further \$5.8M. Holding statements and notifications will be mailed to applicants within the next week.
Magnetic Resources was incorporated to explore for gold, nickel and uranium resources on a large and diverse package of tenements in Western Australia identified and acquired by Image Resources. Upon listing on ASX, Magnetic plans to start a vigorous programme of geochemical sampling, geophysical surveys and drilling to assess this prospective land package. Magnetic's initial drilling will be focused on nickel sulphide targets outlined by EM surveys at the Binti Bore prospect situated 80km northeast of Kalgoorlie.
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 exploration results is based on information compiled by Roger Thomson BSc. ARSM, MAusiMM, who is a Member of the Australian Institute of Geoscientists. Roger Thomson is an employee of Image Resources NL. Roger Thomson 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 qualify as a Competent Person as defined in the 2004 edition of the 'Australasian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Roger Thomson consents to the inclusion of this information in the form and context in which it appears in this report.