23/11/2009 - 12:03

IMX higher on potential $49m financier

23/11/2009 - 12:03

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Shares in Subiaco-based IMX Resources are higher after an unnamed party expressed interest in providing $US45 million ($A49 million) in finance for its Southern Oregon mineral sands project in the US through a mix of debt and equity.

Shares in Subiaco-based IMX Resources are higher after an unnamed party expressed interest in providing $US45 million ($A49 million) in finance for its Southern Oregon mineral sands project in the US through a mix of debt and equity.

IMX said the party operated in a related industry and has started due diligence on the project.

The news follows IMX already formally accepting a letter of offer in September from Macquarie Bank to provide a debt facility of $US30 million, which required an equity contribution of $US15 million.

IMX today said that since the offer, Bligh Capital had engaged with parties that had indicated a desire to provide all or part of the equity contribution.

IMX said the unnamed party that is interested in providing all of the debt and equity was among the entities Bligh had engaged with.

Shares in IMX climbed three cents, or 10.3 per cent, to 32c at 14:41 AEDT.

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