perspective, page-54

This post is a mess, but it's been a long day (and my scotch needs refilling). Some bits and pieces on IMX (as pointed out ticker IXR).

They rcv'd board approval for Cairn Hill in Jan 2008, trial mined in June 2008. Initial financing derailed by GFC (fair enough!! - would you prefer to contend with GFC or RSPT??). There seems to be more and more similarities with IFE, not surprising when you're using a very similar model in the same part of the state. We'll be stockpiling next door at Port Adelaide from what I understand.

If the iron ore price is maintained through 2011 and into 2012, we could just make some pretty good money out of IFE...games not over by any stretch folks. $0.75 was p8ss poor but, doesn't instill a great deal of confidence, but I guess they just could not risk a poor subscription, that could be really damaging to the schedule and ultimately the project, like a hooker having a fire sale, no offer refused...not a good look (i'd imagine). Anyway on with IMX tid bits...

http://www.imxresources.com.au/_content/documents/880.pdf

They sold half their project for $24m

$15m captial and working capital required to get Phase 1 into development
Phase 1 fully funded through Sichuan Taifeng investment
? Will invest circa $24m for 50% equity in projects in ML
? Incorporated JV structure
? IMX retains control of project board & management
? Sichuan Taifeng will assist IMX with debt funding for Phase 2 development
? Future funding of ML projects pro-rata after expenditure of initial $24m investment

IMX went the Chinese funding route, Heads of Agreement established 04/10/2010 as per below. First ore shipped in Dec 2010.

http://www.imxresources.com.au/_content/documents/856.pdf

"Resources developer, IMX Resources Limited (ASX:IXR) is pleased to announce a major
funding milestone with the signing of a Heads of Agreement (?HOA?) with Taifeng
Yuanchuang International Development Co Ltd (Taifeng), the Hong Kong subsidiary of the
privately owned Sichuan Taifeng Group Co Ltd, to invest a minimum of $47.1 million by:
 contributing approximately $23 million to become a 50% equity partner in the
development of the Cairn Hill Phase 1 magnetite ? copper ? gold project and other
developments in ML6303; and
 subscribing a minimum $24.1 million to become a 19.9% shareholder in IMX, at a
subscription price of 48.4 cents per share, representing a 25% premium over the 30
day VWAP."


Fully paid shares on issue 260.15m
Options 11.98m
(29c to 56c, various exercise dates)