Chinese To Invest $3m In Tanzania Graphite

　　The Chinese businesswoman, Chen Yonglian (Madame Chen) wants to invest inChilalo Graphite Project in Southern Tanzania.

　　The placement is subject to the approval of IMX Resources shareholders ata General Meeting expected to be held on August 25, 2015.

　　IMX Resources CEO Phil Hoskins says the investor, Madame Chen, is a highlyinfluential Chinese business person with significant private business interestsincluding a commodities trading company.

　　The company has an average annual turnover of USD$600million and managingiron ore importing for Shougang Group (one of China’s largest steel producers).

　　Madame Chen has also a finance and investment company which is one ofBeijing’s largest companies including being the largest shareholder of ShougangGroup.

　　She also runs a property development company responsible for multi-billiondollar property developments.

　　Madame Chen’s investment stems from her confidence in the quality of theChilalo Graphite Project and IMX’s other assets.

　　Along with a number of other parties, Madame Chen has expressed aninterest in the financing and off-take of the Company’s Chilalo GraphiteProject either as the counter-party or assisting to facilitate such atransaction.

　　According to Hoskins, IMX Resources is expected to host Madame Chen inTanzania in August 2015, including meetings with senior government officials.

　　Hoskins says the Placement and the investment by Madame Chen represented apivotal development for IMX and its emerging graphite and gold projects inTanzania.

　　IMX is now placed to complete the Chilalo Pre-Feasibility Study, maintainmomentum with marketing and off-take discussions and continue exploration atthe Kishugu and Naujombo gold prospects.

　　IMX expects to receive a final $4 million payment in September, 2015 underits joint venture with Fig Tree at the Ntaka Hill Nickel Project.

　　But this remains subject to a positive outcome on the geotechnical studyprogram and the completion of Fig Tree’s fundraising activities.

　　IMX Resources is an Australian minerals exploration company that holds a5,800 sq km tenement package at the Nachingwea Property in south-eastTanzania.

　　The Nachingwea Property hosts the Chilalo Graphite Project, the Ntaka HillNickel Project and the Kishugu and Naujombo Gold Prospects. Chilalo is locatedapproximately 220 km by road from the deep water commercial Mtwara Port, agrowing South Tanzania town now renowned for natural gas.