Joint Ventures

IMX Resources has entered into a number of joint venture (JV) agreements as part of its overall strategy of generating growth and value for its shareholders through the development of mineral exploration and mining projects.

IMX has entered into a JV partnership with Chinese company Taifeng Yuangchuang International Development Co. Ltd. (Taifeng) to develop the Cairn Hill Mining Operation. The JV Company, Termite Resources NL, is 51% owned by IMX and 49% owned by Taifeng. Both parties contribute to the costs of the JV on a pro-rate basis. IMX is the operator and manager of the Cairn Hill Mining Operation. Read more...

IMX has formed a JV partnership with ASX-listed OZ Minerals Limited (OZ Minerals) to explore for copper-gold at Mt Woods in South Australia. OZ Minerals owns a 51% interest in the JV by sole funding $20M exploring the Mt Woods Project area. Under the terms of the JV agreement, IMX retains 100% of the iron ore rights on the highly prospective Mt Woods project, and 49% of the non-ferrous mineral rights. OZ Minerals owns 51% of the non-ferrous mineral rights and can earn up to a maximum of 75% by sole funding an additional $20M in expenditure. OZ Minerals is operator and manager of the JV.

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In northwest Tasmania, IMX has entered into a JV with Barrett Exploration Pty Limited (Barrett Exploration) exploring for nickel-copper and platinum group metals. Under the terms of the JV, Barrett Exploration have a 4% free carried interest through to a completion of a Bankable Feasibility Study or similar. IMX is manager and operator of the JV. Read more...

The St Stephen Project is under option from Abitex Resources Inc. of Val d’Or, Quebec. Under the terms of the option agreement, IMX Resources can earn up to a 60% interest in the project by completing exploration expenditures totalling C$2.0 million, completing staged cash payments totalling C$210,000, and issuing a total of 280,000 shares in IMX Resources, all by April 3, 2014. Upon vesting its 60%, IMX Resources can elect to complete a feasibility study within five years, after which its interest will increase to 65%. Should the study be positive and IMX Resources give notice within 2 years that it intends to implement the recommendations of the study, IMX Resources’ interest will increase to 75%. Once vested, both parties fund their pro rata share of expenditures or dilute. Should either party dilute to <15% it will revert to a 3% net smelter royalty (NSR) of which 2% can be purchased by the other party for C$2.0 million. Read more...