IND - Industrial Minerals

[System]

Industrial Minerals Limited is an Australian unlisted public company, incorporated on 23 February 2021 for the primary purpose of acquiring the Projects, listing on the ASX and exploring and developing for industrial minerals.

The Company has acquired a 100% interest in the following material projects:

(a) the Quins High Purity Silica Sand Project, which is located in the south-west of Western Australia, approximately 15km west of Ledge Point, comprising two granted exploration licences (E70/5340 and E70/5720);
(b) the Unicup High Purity Silica Sand Project, which is located in the south-west of WA, approximately 150km south east of Bunbury, comprising one granted exploration license (E70/5713);
(c) the Lake Macleod Gypsum and Sale Project, which is located in the north-west of Western Australia, approximately 155km north of Carnarvon, comprising of one granted exploration licence (E08/3089);
(d) the Turner River (North and South) Project, which comprises construction sand and aggregate and is located approximately 20km from Port Hedland, comprising of one granted exploration licence (E45/4570) and one pending exploration licence (E45/5268); and
(e) the Roebourne Aggregate Project, which is located between Roebourne and Wickham in the north-west region of WA, comprising of two exploration licence applications (E47/4299 and E47/4298); and
(f) the Karratha Construction sand and Aggregate Project, which is located approximately 10km from Karratha and 25km from Roebourne, comprising of one granted exploration licence (E47/3144).

In addition, the Company has acquired a 100% interest in the following high purity silica sands applications:

(a) the Cataby West Project, which is located approximately 130km north of Perth, comprising of two exploration licence applications (E70/5714) and (E40/5778);
(b) the Mullering Project, which is located approximately 130km north of Perth, comprising of one granted exploration licence (E70/5715);
(c) the Jurien Project, which is located approximately 170km south of Geraldton, comprising of one granted exploration licence (E70/5741);
(d) the Gingin Project, which is located 80km north of Perth, comprising of one granted exploration licence (E70/5742) and one exploration licence application (E70/5782); and
(e) the Regans Ford Project, which is located approximately 105km north of Perth, comprising of one exploration licence application (E70/5766).

(together, the Projects).

It is anticipated that IND will list on the ASX during July 2021.

Industmin – Industrial Minerals

industmin.com

 

[Dona Ferentes]

Listing date	13 July 2021 1:00PM AEST ##
Company contact details	https://industmin.com/ Ph: +61 8 6270 6316
Principal Activities	Mining exploration
GICS industry group	TBA
Issue Price	$0.20
Issue Type	Ordinary Fully Paid Shares
Security code	IND
Capital to be Raised	$5,000,000
Expected offer close date	21 July 2021
Underwriter	Not underwritten. CPS Capital Group Pty Ltd (Lead Manager)

 

[Dona Ferentes]

IND hit the ASX today, and is up 50% on IPO price, at 30c.

Kaolin/ HPA.

 

[Dona Ferentes]

Kaolin/ HPA.

if you can't beat them, join them
.
Highlights
• IND has secured an exclusive option to acquire an 80% interest in the non-construction material mineral rights (including lithium and High Purity Quartz) to the operating Pippingarra Quarry (Granted Mining Lease, M45/258).
• Historical close-spaced drilling has defined over 2km of flat lying pegmatite, that is on average 200m wide and 20m thick, under very shallow cover and remains largely untested for lithium despite historical mining of beryl and columbite (which are both indicator minerals of LCT-type pegmatites).
o The pegmatite is open in all directions and the current defined extent of pegmatite is a function of drilling completed to date.
• Of the 38 diamond holes drilled by previous owners, only one drill hole was assayed for lithium and it intersected 6m at 3.73% Li2O from 26m in a vertical diamond hole. Based on visual assessment, only 6m of the 20m pegmatite interval in that hole was assayed.
o To date, no other intervals from this drill hole or from any of the other 442 drill holes across the project have been assayed for lithium.
• RC and diamond exploration program being devised to determine the extent of the pegmatite and its lithium mineralisation potential. Multi-purpose drill rig secured.
• The project is on a granted Mining License and located 30km south-east of Port Hedland, 19km north-east of Wildcat Resources (ASX:WC8) Tabba-Tabba Lithium Project, 55km north-west of Pilbara Minerals Ltd (ASX:PLS) Pilgangoora Lithium Operations and 69km north of Mineral Resources Ltd (ASX:MIN) Wodgina Lithium Operation.

 

[chezza_direct]

IND is my stock pick for December due to two RC rig being mobilised for 3500m drill program. Historic holes recorded 3.73% Li20. Current Market cap $79M. Low SOI. Tightly held stock.