IMX Resources Limited (IXR) is pleased to announce it has signed a Memorandum of Understanding (MOU) with Flinders Ports Pty Limited (Flinders Ports) to investigate the feasibility for development of a port solution at Port Pirie to support the development of IMX’s 100% owned Snaefell Magnetite Project in South Australia.
Managing Director Neil Meadows described the MOU with Flinders Ports as an important step towards proving the feasibility of the Snaefell Magnetite Project, which forms part of the much larger Mt Woods Magnetite Project.
“IMX is an established South Australian iron ore producer and has demonstrated its ability to work cooperatively with Flinders Ports in the establishment of our innovative containerised iron ore storage and loading facilities at Port Adelaide. This MOU provides the basis for IMX and Flinders Ports to work towards developing a port solution to support the development of a large scale iron ore export and trans-shipment facility at Port Pirie for the Snaefell Magnetite Project.”
The Company recently initiated studies into water, power, ore characterisation, transport and logistics in anticipation of reaching a decision to commit to funding a Pre-Feasibility Study on the Snaefell Magnetite Project by the end of 2012. IMX has also commenced the search for a suitable partner to support the development of the Snaefell Magnetite Project.