IMX Resources Reports Lower Than Expected Copper Grades for Cairn Hill Mine

IMX Resources (ASX:IXR,TSX:IXR) has found lower-than-anticipated copper grades from provisional invoice assays for its two most recent shipments of DSO magnetite-copper ore from its 51 percent owned Cairn Hill Mine in South Australia.

As quoted in the press release:

The updated modelling shows that the impact of these lower copper grade shipments is expected to result in total after-tax cash distributions from Cairn Hill of $8.0 million through until mid-2015, compared with the previously announced forecast of $13.3 million.

Click here to read the IMX Resources (ASX:ISR) press release