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Business Description: IMX Resources Limited (IXR) is a mining & exploration company with an iron ore mining operation in South Australia, and a portfolio of exploration projects in Australia and Africa, focusing on iron ore, nickel, copper and gold.
Strategy Analysis: IMX has the ambition to become a multi mine owner. Cairn Hill/ Mt Woods provides a growth profile for the expansion of the iron ore business. IMX plans to aggressively explore Mt Woods ELs for their iron ore/copper and gold potential in partnership with OZ minerals. IMX plan to evaluate near term production opportunities for JVs and acquisitions in steel making raw materials and copper.
IMX Resources provided its December 2011 quarterly activities report, reporting at Mt Woods, Snaefell strike length more than doubled to 2.7km by recent drilling; and new iron ore targets identified at Mt Woods with first pass drilling completed at Tomahawk intersecting magnetite. At Nachingwea, Sleeping Giant high grade nickel core zone continuity confirmed over a 500 metre strike length; and second phase of metallurgical testwork drilling and sampling completed. At Cairn Hill Operations, record crushing for the quarter including two record crushing months; and mine is operating at full planned capacity. Cash in hand at the end of the quarter was $15.9m.
The Age 20/05/2013 |
It is getting virtually impossible to find an expert who believes global equity markets are a risky place to invest. As markets on all continents grind higher and higher, the bears are in danger of becoming extinct and the Winston Churchill "voice in the wilderness" warning us of the troubles ahead seems to have departed the scene. When everyone is in agreement, we should start to get a little worried.
The Age 20/05/2013 |
Tiger Australia has continued to narrow its losses due to stronger returns from fares and is operating without restrictions from air-safety authorities.
The Age 20/05/2013 |
When it comes to forecasting the economy - and thereby the budget balance - the econocrats of the Reserve Bank and Treasury are on a hiding to nothing.
The Age 20/05/2013 |
Markets ought to be about competition. To quote historian Niall Ferguson, they should ensure the survival of the fittest, not the fattest.
The Age 20/05/2013 |
Investment bank Morgan Stanley Smith Barney is being sued after losing more than $5 million from the super accounts of two private clients with a series of "aggressive, highly speculative and high-risk" trades using derivatives and share options.
Sydney Morning Herald 20/05/2013 |
It is getting virtually impossible to find an expert who believes global equity markets are a risky place to invest. As markets on all continents grind higher and higher, the bears are in danger of becoming extinct and the Winston Churchill "voice in the wilderness" warning us of the troubles ahead seems to have departed the scene. When everyone is in agreement, we should start to get a little worried.
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