Image Resources NL (ASX:IMA) is a mineral sands-focused mining company engaged in the production and exploration of heavy mineral sands, including zircon, titanium dioxide feedstock and monazite concentrates; it operates open-cut mining and ore processing facilities in Western Australia's North Perth Basin, supplying critical minerals to global markets for applications in ceramics, paints, coatings and nuclear energy. Founded in 1994 and headquartered in West Perth, Australia, the company holds 100% ownership of its flagship projects, including the high-grade Boonanarring Mineral Sands Project, which commenced profitable production in December 2018 and concluded mining operations in Q3 2023; the Atlas Mineral Sands Project, with construction underway since August 2024 and heavy mineral concentrate production forecast to commence in Q1 2025; and growth projects such as Yandanooka, Bidaminna and the large-scale McCalls deposit including Mindarra Springs, all located in mineral-rich regions proximate to existing infrastructure. Recent developments include the transition from Boonanarring to Atlas operations to sustain production growth; execution of offtake agreements such as with Hainan Wensheng High-Tech Materials Co for 50% of Boonanarring heavy mineral concentrate; lowered market guidance for CY2025 heavy mineral concentrate sales by 9% amid softer market conditions; and a director shareholding change in November 2025 involving Patrick Mutz's on-market buy-back of 1,485,333 shares under the employee share plan.