|By Marketwired .||
|December 13, 2012 05:34 PM EST||
WEST PERTH, AUSTRALIA -- (Marketwire) -- 12/13/12 -- IMX Resources Limited (TSX:IXR)(TSX:IXR.WT)(ASX:IXR) ('IMX' or the 'Company') is pleased to announce that the Cairn Hill Mining Operation, which is operated by Termite Resources NL ('Termite'), completed loading of its three millionth tonne of ore from Port Adelaide, South Australia. The ship, the 'Piet', with 76,400 tonnes of cargo, is scheduled to set sail for China on 20 December 2012.
Termite is a joint venture company owned 51% by IMX and 49% by Taifeng Yuanchuang International Development Co. Ltd.
Since June 2011, Termite has been making two ore shipments per month. Termite has an innovative approach to transport logistics that involves railing ore to Port Adelaide in purpose built shipping containers, which are stacked and stored at the port, then tipped into the hold of the ship via a rotating container ("rotainer") system. The containers are then loaded back onto the train and returned to the mine for reloading.
IMX Managing Director, Neil Meadows, said, "This is another significant milestone for the Cairn Hill mining operation and I congratulate the employees and contractors who have achieved it. The implementation of cost reduction initiatives earlier this year and maintaining our targeted shipping rate has enabled the operation to sustain positive cash flow for the Company. We look forward to continued success at Cairn Hill."
Neil Meadows, Managing Director