New Risk • Jun 04
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 25% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (22% average weekly change). Earnings have declined by 8.3% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (25% increase in shares outstanding). Market cap is less than US$100m (AU$15.5m market cap, or US$11.1m). Aankondiging • May 14
Industrial Minerals Ltd has filed a Follow-on Equity Offering in the amount of AUD 3 million. Industrial Minerals Ltd has filed a Follow-on Equity Offering in the amount of AUD 3 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 20,000,000
Price\Range: AUD 0.1
Discount Per Security: AUD 0.006
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 10,000,000
Price\Range: AUD 0.1
Discount Per Security: AUD 0.006
Transaction Features: Subsequent Direct Listing New Risk • Feb 26
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.6m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 19% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$12.0m market cap, or US$8.57m). Aankondiging • Sep 26
Industrial Minerals Ltd, Annual General Meeting, Nov 26, 2025 Industrial Minerals Ltd, Annual General Meeting, Nov 26, 2025. Board Change • Jun 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. Independent Non-Executive Director Mel Leighton was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. New Risk • Feb 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 16% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (AU$9.64m market cap, or US$5.96m). Minor Risk Shareholders have been diluted in the past year (17% increase in shares outstanding). Aankondiging • Nov 12
Industrial Minerals Ltd has completed a Derivatives Offering in the amount of AUD 1.256249 million. Industrial Minerals Ltd has completed a Derivatives Offering in the amount of AUD 1.256249 million.
Security Name: Options
Security Type: Equity Option
Securities Offered: 4,187,498
Price\Range: AUD 0.3 Aankondiging • Oct 18
Industrial Minerals Ltd has announced a Derivatives Offering. Industrial Minerals Ltd has announced a Derivatives Offering.
Security Name: Options
Security Type: Equity Warrant
Securities Offered: 4,187,500 Aankondiging • Oct 11
Industrial Minerals Ltd, Annual General Meeting, Nov 29, 2024 Industrial Minerals Ltd, Annual General Meeting, Nov 29, 2024. New Risk • Oct 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (AU$13.9m market cap, or US$9.60m). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Shareholders have been diluted in the past year (23% increase in shares outstanding). New Risk • May 13
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 23% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.3m free cash flow). Share price has been highly volatile over the past 3 months (23% average weekly change). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (8.3% increase in shares outstanding). Market cap is less than US$100m (AU$18.2m market cap, or US$12.0m). New Risk • Nov 05
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.5% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.2m free cash flow). Share price has been highly volatile over the past 3 months (37% average weekly change). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (4.5% increase in shares outstanding). Market cap is less than US$100m (AU$70.3m market cap, or US$45.8m). New Risk • Oct 27
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 37% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.2m free cash flow). Share price has been highly volatile over the past 3 months (37% average weekly change). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$64.7m market cap, or US$41.1m). Aankondiging • Oct 12
Industrial Minerals Ltd, Annual General Meeting, Nov 29, 2023 Industrial Minerals Ltd, Annual General Meeting, Nov 29, 2023. New Risk • Sep 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m (AU$837 revenue, or US$538). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Market cap is less than US$100m (AU$31.5m market cap, or US$20.3m). New Risk • Jun 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m (AU$837 revenue, or US$562). Minor Risks Less than 3 years of financial data is available. Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (AU$26.7m market cap, or US$17.9m). Aankondiging • Feb 10
Industrial Minerals Ltd Provides Stockyard Project Update Industrial Minerals Ltd. provided an update on its Stockyard High Purity Silica Sand (HPSS) Project near Eneabba in Western Australia. Key project development milestones have been achieved with the approval of the Mining Proposal, Mine Closure Plan and Clearing Permit by the relevant State Government Departments. The receipt of the environmental approvals means that mine establishment activities at Stockyard can commence immediately upon Final Investment Decision of the Board following the agreement of a contract for offtake or product sales with potential offtake partner Shandong Hongbote Solar Technology Co. Ltd. The Company was pleased to receive approval for the Mining Proposal and Mine Closure Plan for its Stockyard HPSS Project. The final application was submitted to the Department of Mines, Industry Regulation and Safety in late 2022. The Company believes the assessment and approval process has been relatively short, reflecting the low environmental impact of the project. IND engaged environmental consultants Clark Lindbeck & Associates to develop the Mining Proposal and associated documents for the Stockyard Project Mining Lease. These consultants were engaged based on their extensive knowledge of flora and fauna in the region and the quality and clarity of their environmental submissions. The Company also submitted an application for a Clearing Permit for the access and mining lease areas in late 2022. The Department of Water and Environmental Regulation has granted the permit, giving IND the authorisation to clear native vegetation for the purpose of silica sand mining. The proposed development envelope for the mining operations within the mining lease, is over 480Ha, however IND only intends to disturb up to 4.25Ha of native vegetation. The limited disturbance is able to be achieved as a result of the Company specifically targeting silica sand within previously cleared farmland and avoiding remnant native vegetation where possible. Another key step in developing the proposed mining operation was achieved in late 2022 with the Company and Aboriginal Heritage Consultants from the Yued Region taking part in a Heritage Survey across the Mining Lease area within the Stockyard Project. The survey did not identify any archaeological or ethnographic sites.1 During the heritage survey, the Company was able to explain the low impact nature of the proposed mining activities, highlighting that they are primarily within cleared farmland and will avoid native vegetation. The participants stated that they appreciated the efforts made by IND to provide a clear picture of the mining process including the rehabilitation of the post mining landform to return it to productive farmland. The Company believes there is further opportunity to build relationships with the survey participants from the community in which the Company intends to operate. A ground water licence was applied for and granted in 2022. This allocation will enable IND to supply water for processing and dust suppression at the commencement of operations. The proposed processing plant will remove the oversize and undersize material leaving a saleable product requiring low water consumption. IND is awaiting the beneficiation results of a 20 tonne sample sent to potential offtake partner Shandong Hongbote Solar Technology Co. Ltd. (SHST). It is noted that this work is underway however was unfortunately delayed as a result of the Covid-19 outbreak in China and also Chinese Lunar New Year shutdowns. Feasibility studies are progressing well and will be finalised in conjunction with offtake or product sales contract negotiations. This will allow the Final Investment Decision (FID) including financing to be made by the IND board. The works approval process is well advanced and IND expects a draft response from the Department of Water and Environmental Regulation in the coming weeks. Aankondiging • Dec 13
Industrial Minerals Ltd Provides an Update on Recently Completed Resource Definition Activities Across the Stockyard and Bookara High Purity Silica Sand (HPSS) Projects Industrial Minerals Ltd. provided an update on recently completed resource definition activities across the Stockyard and Bookara High Purity Silica Sand (HPSS) Projects in Western Australia. Reconnaissance trips have also been completed over several of IND's silica sand projects to verify and add geological context to desktop studies. The reconnaissance trips were also conducted to initiate and progress discussions with landholders to secure access agreements over tenure considered prospective for high purity silica sand. Strategically, the Company has also been focused on exploring for the potential of low-iron high purity silica sand at its Projects. Pleasingly, the Mindarra Project has returned exceptional results from first pass reconnaissance surface soil sampling, with a best result of 99.6% SiO2 and 200ppm Fe2O3. Exploration Activities Update: Key geological consultants have been engaged to undertake prospectivity studies on each of IND's silica sand projects. Following desktop studies, IND's projects north of Perth were prioritised for reconnaissance exploration work programs, given their proximity to the Port of Geraldton and the advanced Stockyard Project. The purpose of the prospectivity study is two-fold: 1. To identify targets for the exploration and development of areas prospective for HPSS 2. To review and rationalise IND's large landholding to: a. optimise expenditure on the most prospective ground b. rationalise tenure deemed to have low prospectivity The main criteria used for ranking projects' prospectivity included: 1. Presence /absence of native vegetation 2. Proximity to port 3. Remote sensing evidence for high purity silica sand deposition IND has been actively progressing exploration across its portfolio of silica sand projects, with reconnaissance surface soil sampling completed across the Bookara and Mindarra Projects, located north of Perth. Reconnaissance visits have also commenced over IND's silica sand projects to the south of Perth, with assay results from these work programs pending. Mindarra Silica Sand Project: The Mindarra Project (Mindarra) comprises a 305km2 exploration lease and is located 125 kilometres north of Perth and 320 kilometres from the Port of Geraldton. The project is at an early exploration stage, with recent desktop studies and reconnaissance work highlighting its potential to contain high purity silica sand. Initial surface soil samples taken from the Mindarra Project have returned exceptional results exhibiting high purity silica, coupled with very low iron content. Significant soil sample results are depicted in Figure 4 and include: ·99.6% SiO2, 200ppm Fe2O3 in sample MS13 · 99.5% SiO2, 233ppm Fe2O3 in sample MS14 · 99.4% SiO2, 397ppm Fe2O3 in sample MS08· 99.4% SiO2, 629ppm Fe2O3 in sample MS05. To assess the sand's amenability to upgrade via a simple screen and wash process, the soil samples were sieved and washed with water to remove fines and organic matter. Pleasingly, results show that a significant reduction in iron impurities can be achieved by this method. These results demonstrate that Mindarra has the potential to host extremely high purity silica, containing very low iron impurities, amenable to a simple screening and washing upgrade process, that could attract a premium price given its high demand and suitability for the PV Solar Panel market. Bookara Silica Sand Project: The Bookara Project (Bookara) comprises a large landholding of approximately 1190km2. The Project is logistically well located, surrounded by infrastructure and just 50 kilometres from the Port of Geraldton. Bookara exhibits characteristics favourable for high purity silica sand deposition, as highlighted by review of open-source remote sensing and geophysical datasets. Following a prospectivity review, the Project was identified as a high priority project to be pursued in the exploration and delineation of high purity silica sand resources to complement the Stockyard Mineral Resource inventory. A reconnaissance trip has given further support, confirming the presence of several white silica sand exposures at surface, with the depth of silica sand deposits estimated to range from 1-3 metres. Recently completed surface soil sampling returned a best result of 98.7% SiO2, 1387ppm Fe2O3. Air core and auger drilling programs have commenced at Bookara to test areas considered prospective for silica sand mineralisation. Soil sample locations and areas being targeted by drilling. Drill spacing and QAQC protocols have been designed to facilitate mineral resource estimation should the drilling meet with successful definition of high purity silica sand as identified at surface. The Company is also advancing discussions with landholders to ensure land access agreements are in place to progress exploration over the broader project area. Resource Definition Activities Update Stockyard Silica Sand Project: The recently completed Mineral Resource Estimate (MRE) for Stockyard stands at 9.6 million tonnes grading 98.9% SiO2, with Indicated Resources of 4.0 million tonnes at 98.8% SiO2 and Inferred Resources of 5.6 million tonnes at 98.9% SiO 2. Mineral Resources contained within the granted Mining Lease total 1.9 million tonnes grading 98.8% SiO2 and are classified entirely as Indicated. An infill auger program has been completed targeting high priority mineralisation amenable to the upgrade in classification from Inferred to Indicated Resources. Infill drilling has been designed to improve geological confidence and provide additional information in areas where mineralisation is currently classified as Inferred due to low drill density. Initial areas targeted as part of the resource classification upgrade are high purity silica sand (HPSS) bodies that sit proximal to the granted Mining Lease and where IND intends to commence mining activities. An auger program targeting resource extensions and exploration targets identified as part of the Stockyard MRE has also recently been completed at the Project. Any HPSS mineralisation defined by this phase of exploration drilling will provide valuable additions to the Stockyard resource inventory and projected mine life. Results from recently completed exploration and resource drilling are expected to be returned early in January 2023. Should results be favourable, the Company will seek to expedite a resource upgrade for the Stockyard Project. Any potential additions to Indicated Resources will be considered as part of the Stockyard Ore Reserve, which is being completed as part of the Feasibility Studies currently underway. Next Steps:· Continue landholder engagement and secure land access agreements over prospective areas- dedicated stakeholder consultation manager engaged to progress access agreements · Reconnaissance field trips to inspect prospective areas for high purity silica sand at IND's projects · Surface soil samples to be taken on public land/access roads where no access agreements in place. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Non-Executive Director Mel Leighton was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Oct 14
Industrial Minerals Ltd, Annual General Meeting, Nov 30, 2022 Industrial Minerals Ltd, Annual General Meeting, Nov 30, 2022. Aankondiging • Oct 11
Industrial Minerals Ltd Completes the Excavation, Processing and Bagging of A 20 Tonne Bulk Sample of High Purity Silica Sand from Its Stockyard Silica Sand Project in Western Australia Industrial Minerals Ltd. announced that it has completed the excavation, processing and bagging of a 20 tonne bulk sample of High Purity Silica Sand (HPSS) from its Stockyard Silica Sand Project in Western Australia. The washed product has been packaged to be sent to IND's recently announced potential offtake partner Shandong Hongbote Solar Technology Co. Ltd. (SHST). The non-binding MOU signed with SHST allows for the parties to negotiate the key terms of the offtake agreement, following the completion of beneficiation test work and final results received. Heritage survey completed at the Stockyard Project allows 20 tonne High Purity Silica Sand bulk sample to be excavated. Bulk sample processed via simple washing and screening methods to obtain a beneficiated direct shipping ore (DSO) product. Bulk sample is being shipped to Shandong Hongbote Solar Technology Co. Ltd. (SHST) in China for full metallurgical beneficiation assessment. Bulk sampling and processing will provide key inputs for the development and Scoping Studies for the Stockyard Silica Sand Project. Stockyard Resource and Scoping Studies well advanced and due for completion in coming month. Aankondiging • Jul 19
Industrial Minerals Ltd Provides an Update on the Metallurgical Testwork Program for the Stockyard Project Industrial Minerals Ltd. provided an update on the Metallurgical Testwork program for the Stockyard Project. The Company has engaged KeyPointE Pty Ltd. (KeyPointE)to complete a program designed to determine the quality of High Purity Silica Sand that can be achieved from the Stockyard Project. The samples were subject to a series of tests designed to remove impurities to achieve a high purity silica sand product. Metallurgical Sample Details: An initial 150kg bulk sample (MET0002) was taken from within the proposed Pit 2 area, located within the Stockyard Mining Lease Application. The sample was taken from a depth of 1.0 to 1.5 metres which included some organic material and is considered representative of ROM (run of mine) ore material. A 3kg Headfeed sub-sample was split from the bulk sample and provided to KeyPointE for initial sighter testwork. Sighter Testwork: The series of testwork procedures involved were performed sequentially and are listed below: The screening of the ROM headfeed sample at 1 mm to reject and oversize. Desliming the <1 mm fraction at 75 microns to reject a slimes fraction. A heavy liquid separation (2.9 sg) of the sand fraction (<1 mm >75 µm) to remove a heavy mineral sink fraction (this step is used as a proxy for gravity separation). The attritioning of the heavy liquid float fraction with water. Mineral Analysis: The resulting samples produced at each stage of the process were sent to Intertek Genalysis for mineral analysis. The >2.9sg sample was tested by XRF to account for the heavy mineral content, while the remaining samples were tested by ICP/OES. Results: Results from the initial bulk sample sighter testwork show a potential DSO product with 99.5% SiO2 and 417 ppm Fe2O3. IND will be able to achieve this result by processing the ore through a wet screening plant and desliming with a cyclone. Modular sand washing plants required for this process are readily available within Australia. With the addition of gravity separation (using the heavy liquid separation result as a proxy) and attritioning, the results show that the key contaminant, Fe2O3, can be reduced to 185 ppm. This is important as it indicates the high quality of product that IND's potential customers can achieve. Further Testwork: Composite samples have been prepared for the remaining Pits across the Stockyard Mining Lease application area. KeyPointE has completed the metallurgical testwork program for these composites and the samples have been submitted for mineral analysis. Once received, the results will be used to develop a range of Product Specifications for the project. Aankondiging • Jun 06
Industrial Minerals Ltd Provides an Update on Its 100%-Owned Stockyard Silica Sand Project, Located 35 Kilometers Southeast of Eneabba, in Western Australia Industrial Minerals Ltd. provided an update on its 100%-owned Stockyard Silica Sand Project, located 35 kilometers southeast of Eneabba, in Western Australia. Maiden Exploration Target The Company announced a Maiden Exploration Target of 8Mt to 15Mt with an average grade range of 96.0% to 99.4% SiO2 contained within a small portion of the Stockyard project where extensive auger drilling has been completed by the Company since it listed on the ASX in July 2021. The potential quantity and grade of the Exploration Target is conceptual in nature, and there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. The Exploration Target has been prepared and reported in accordance with the 2012 edition of the JORC Code. The Exploration Target has been developed based upon the current geological understanding of the geometry of mineralized zones at the Stockyard Project. This understanding has been developed through extensive exploration drilling completed to date, and regional geological mapping. This Exploration Target has utilized auger drilling results completed to date with more than 1161 auger holes for 1194 meters having intersected high purity silica sand at the project. Industrial Mineral's auger drilling at Stockyard has intersected a total of 55 high purity silica sand deposits from surface to an average depth of 1.03 meters. Auger drill intercepts to date have returned an average grade of 98.9 % SiO2 over a combined surface area spanning 700 hectares. Following compilation and review of all auger drilling completed in 2021, Industrial Minerals has used the below parameters in calculating the Exploration Target: Cumulative Surface Area: 700 hectares (or 7.0 km2); Average depth: 1.03 meters; and Bulk Density: 1.62 (t/m³). The average grade of mineralization is 98.9% SiO2 and therefore a range of 96.0% and 99.4% is provided around that to account for uncertainty. Mining Lease Application The Company is also pleased to announce that it has submitted a Mining Lease application to the Department of Mines, Industry Regulation and Safety (DMIRS) for the first Silica Sand mine within the Stockyard Project. As part of the Scoping Study being conducted at the Stockyard Project, the Mining Lease application area has been selected to support the Company's rapid development strategy with the aim of minimizing roadblocks to progressing the project to production and first shipment to potential customers. The Mining Lease area is entirely within a single private property of which IND has an Access Agreement and strong working relationship with the owner. The proposed disturbance footprint consists of cleared farmland which avoids the need to disturb Native Vegetation, specifically that which is crucial to endangered Carnaby's Cockatoo. Due to the simple mining and processing route proposed to produce a DSO Silica Sand product, along with the small scale of this initial Mining Lease, IND believe it will be able to move swiftly to receive final approvals required to commence operations. IND's Scoping Study is progressing well and is focused on the Mining Lease application area, while also taking into account the current and future exploration across the greater Stockyard Project area. All drilling assays have now been included in the database allowing the Maiden Mineral Resource Estimate to be finalized in Third Quarter 2022. Composite samples for each deposit across the Mining Lease application area have been submitted to KeyPointe Pty Ltd. for Metallurgical testwork. Desktop and Level 1 Environmental surveys have been conducted and are to be included in the Mining Proposal and Mine Closure Plan for the Mining Lease. Ground Water License approved with suitable allocation for proposed mining and processing requirements. Mining Engineering and Site Planning is taking place in conjunction with the resource modelling which will allow Mining, Processing and Logistics tenders to be released to select parties in Third Quarter of 2022. Importantly, the extent of High Purity Silica Sand mineralization is yet to be fully tested across the broader portfolio of High Purity Silica Sand Projects, with the Company now set to expand its exploration activities and drill test additional silica sand bodies as identified by the IND technical team as high priority exploration target areas. IND's low impact and low-cost rapid exploration and resource definition technique gives the Company a significant advantage in its efforts to rapidly explore and develop its highly prospective tenure and pipeline of quality silica sand projects. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Operational Director & Director Jeff Sweet was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Apr 06
Industrial Minerals Ltd Announces Results of Exploration Activities Undertaken at the Stockyard Project Industrial Minerals Ltd. announced results of exploration activities undertaken at the Stockyard Project, with assay results now returned from most of the drilling undertaken in 2021. Latest round of auger drilling completed at the Stockyard Project has identified and extended multiple large areas of high purity silica sand (HPSS). Results from 635 auger samples have returned grades greater than 98.5% SiO2, with an average grade of 98.9% SiO2 (reported above 98.5% SiO2). More than 20 High Purity Silica Sand (HPSS) deposits now defined at Stockyard by 50 x 50m spaced auger drilling, to an average depth of 1.10 metres from surface. Placer Consulting PL (Placer) engaged and QAQC workstreams underway in preparation for Stockyard maiden Mineral Resource estimate. Key workstreams advancing for Stockyard Scoping Study and in preparation for Mining Lease application. Additional HPSS targets confirmed by regional soil sampling over the wider Stockyard project, with a best result of 99.1% SiO2 returned, and several high priority areas identified for follow up. Field activities and auger campaigns set to continue in April, with work aimed at testing high priority targets and further growing Stockyard mineralization. 