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Image to draw down A$50M to fund Boonanarring construction, commissioning

Image Resources NL submitted a formal request to draw down its previously secured A$50 million loan note facility after satisfying all conditions.

The loans funds, expected to be received May 25, will be used to fully fund the construction and commissioning of the Boonanarring mineral sands project in Western Australia.

The company recently contracted Sunrise Energy Group Pty. Ltd. to construct a 3-MW to 4-MW solar farm for the project.