IDA - Indiana Resources

Re: IXR - IMX Resources

An other great announcement on Friday. IMX just keeps pressing the right buttons.

Re: IXR - IMX Resources

mydosh said:

An other great announcement on Friday. IMX just keeps pressing the right buttons.

Click to expand...

Care to give some details? What was the announcement? Why was it 'great'? The more info you provide the more responses you will get.

Cheers

Re: IXR - IMX Resources

Iron ore producer, IMX Resources Limited (ASX:IXR) is pleased to announce that it has signed a strategic alliance agreement with Sichuan Taifeng and Sichuan Metallurgical Geological and Exploration Bureau (SMGEB).

The aim of the strategic alliance is to seek new projects in which to cooperate, in evaluating new investment opportunities as well as to investigate the opportunities for participating in existing IMX projects to accelerate exploration and development.

SMGEB, based in Chengdu, Sichuan, China, is a professional exploration and minerals development bureau with 50 years of minerals exploration practice and 10 years of minerals exploitation, and is subordinated by 10 professional teams including geological exploration teams, geochemical and geophysical team, topography survey team, core drilling company, minerals development company, and sample assay and ore test.

With an experienced team consisting of project generating, project evaluation and operation of joint exploration with BHP, CCG, WMC, INCO, etc., effective discoveries in diverse commodities and beneficial return in west China are achieved. With technical expertise and good credit rating, Sichuan Bureau of Metallurgical Geology & Exploration is strategically searching for quality joint exploration projects globally to lead the significant minerals discovery.

IMX's Cairn Hill Magnetite – Copper – Gold ore (3593t) has been railed from the Rankin Dam loading facility to Port Adelaide.
They are in a JV with OZ Min. They have a JV Nachingwea nickel-copper sulphide project in Tanzania with Continental Nickel Limited, which has resulted in 1.70% nickel and 0.07% copper over 2.15 metres from drill hole NAD10-206 at H Zone at Ntaka Hill, and a 13.8 metre interval of disseminated sulphide mineralisation grading 0.60% nickel and 0.10% copper from drill hole NRD10-021 at Lionja.

All of their news announcements are available on the ASX under the code of IXR.
Cheers.

Re: IXR - IMX Resources

Of course company announcements are going to make things sound positive. So what specifically did you personally like about it? Why do you think this means their price will move up. Anyone can copy and paste a announcement, but some actual analysis is always nice.

Cheers

Re: IXR - IMX Resources

What I like is that they are the first South Australian mining company to ship IO. They are financially set for further development. They are expecting their first earnings cheque this year or early next year. They have a sound management team and have convinced me they know what they are doing. I like their style.
When you compare their SP to that of WPG, which hasn't mined anything as yet, then IMX looks pretty good at around 50c.
It's probably better that I keep my opinions to myself and then it wont sound like I am ramping the stock.
I didn't realise that this was an analyst and economic play area, driven by personal opinions and knowledge of the stocks, markets, sectors and ones own intelligent take on a company.
I didn't refer to the SP moving up on the announcements, I did comment that I thought it was undervalued.
I was pointing to the announcement that came out on Friday. I don't expect my offerings to have any impact on the SP, but only to inform people interested in the stock that an announcement was out, if they are interested in reading it.
If you expect an in-depth analysis each time and justification for every post that is written, good luck with that one.
Cheers.

Re: IXR - IMX Resources

well I thought it looked good at around 50c, but now that it has reached 66c, I have to say I'm delighted.
Anyone else, or am I the only one holding?

Re: IXR - IMX Resources

Also holding, but probably got in quite a bit higher than you did...

Massive resistance now on the 10 year chart. The coming days will be interesting. Positive signs if it can make a close above 75c.

Re: IXR - IMX Resources

I noticed IMX got a small mention in The Australian this morning. The segment 'Pure Speculation' was praising Carpentaria Resources whilst it was talking about iron ore.

I would expect the SP to go over a $ in the new year as more announcements are released and Nachawinga fires up.

Re: IXR - IMX Resources

I heard they have halted production due to low Iron Ore prices?

Anyone else heard similar?

Re: IXR - IMX Resources

Could be worth a look. And so far today's bar looks like a test on very low volume. We'll see how it closes.

This is the chart at EOD yesterday.

Re: IXR - IMX Resources

pavilion103 said:

Could be worth a look. And so far today's bar looks like a test on very low volume. We'll see how it closes.

This is the chart at EOD yesterday.

View attachment 50198

Click to expand...

Ive grabbed a small parcel yesterday.

Reductions in OPEX for the 1.8mtpa iron-copper-gold DSO project to $77/tonne FOB will now be seeing some profits with the spike in Iron Ore prices and no debt on the project (IXR 51%).

There are some good announcements expected in Feb from the latest directors update 19/12/2012:

"MD Neil Meadows
We will continue to release the results of our most recent drilling activities both in Tanzania and Australia over the course of the next few months. From the perspective of Ntaka Hill though, the next major milestone will be the release of our upgraded Resource Statement in February 2013.

I would also hope to be in a position to make an announcement in relation to the commercialisation of our interest in the Mt Woods Magnetite Project early in 2013."

Anyone else holding?

I'm also in now.

On June 22nd, 2016, IMX Resources Limited (IXR) changed its name and ASX code to Indiana Resources Limited (IDA).

These assay results look good. Market cap is less than $20 million. Will dig a bit deeper into their projects to try and figure out what the story is here.

hadn't been following this. !!

.
Commenting on the special dividend payment and upcoming exploration strategy in South Australia, Chair Bronwyn Barnes said: “The Board is delighted to be in the position to deliver a special dividend payment to shareholders in December 2024. This is a great outcome for the Company’s shareholders and reflects a transformational period for the business, with the United Republic of Tanzania having already paid US$60 million of the US$90 million settlement owed to the Claimants.

"As a result, we report a robust Company cash position at 15 November of A$48M*. Following the special dividend payment to shareholders in December, totalling approx. A$32.6M, Indiana will have a remaining cash position of approx. A$15.4M*.


.
Second Payment to Shareholder Proposed for 2025
As previously advised, Indiana intends to make further distributions subject to receiving the final payment due to the Claimants under the settlement agreement with Tanzania (see ASX release dated 29 July 2024). The final payment as per the Settlement Agreement of US$30M from Tanzania is due and payable on 30 March 2025.

The Company is in the process of applying for a tax ruling from the Australian Taxation Office to
make the second payment to shareholders as a capital return. The current amount as per the last reported Company’s accounts that can be returned as a capital return is $32.4M. It is planned that the second payment would be made to shareholders in May 2025 (subject to shareholder approval)....

and


Highlights
• RC drilling has commenced at Minos Gold Prospect
• Drilling programme consists of minimum 27 holes for 4270 metres
• Drilling designed to infill and extend the 600 metre strike length of known high-grade gold mineralisation
• First assay results expected early December