Board Change • Jul 03
Less than half of directors are independent Following Non-Executive Director David Wheeler's arrival on 01 July 2026, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Non-Executive Director Bob Adam was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Tillkännagivande • Jul 01
Indiana Resources Limited Announces Board Changes, Effective July 1, 2026 Indiana Resources Limited announced the appointment of Mr. David Wheeler as a Non-Executive Director of the Company, effective July 1, 2026. The appointment coincided with the resignation of Ms Maja McGuire, who stepped down from the Board. David Wheeler brought to Indiana more than 30 years of senior executive management, directorship and corporate advisory experience. He is a founding Director and Partner of Pathways Corporate, a boutique corporate advisory firm that provides strategic advisory services to family offices, private clients and ASX-listed companies. David Wheeler is a Fellow of the Australian Institute of Company Directors (FAICD). He is currently Non-Executive Director of OZZ Resources Limited, Avira Resources Ltd, Union Star Metals Limited, Ragnar Metals Ltd, MOAB Minerals Ltd, Cycliq Group Ltd, Earths Energy Ltd, Invex Therapeutics Ltd. and YUGO Metals Ltd. Indiana Resources Limited also announced that Ms Maja McGuire resigned from the position of Non-Executive Director effective July 1, 2026, to focus on other business interests and directorships. Ms Maja McGuire was appointed as Interim Managing Director of Kuniko Limited. Tillkännagivande • Jun 24
Indiana Resources Limited Provides Update on Company Well Drilling Program Indiana Resources Limited wishes to advise that the planned drilling program at Company Well has been further delayed due to road closures resulting from a significant weather system affecting access to the project area. Despite the Company's readiness to commence drilling, access restrictions have prevented mobilisation of the drill rig to site within the scheduled timeframe. As a consequence, the drilling contractor has advised that the rig will now be required to move to its next contracted project. The Company has worked closely with the drilling contractor to secure the earliest available opportunity to start the program. The rig is currently expected to return to site in mid-August 2026, subject to weather conditions and access being available. The Company remains committed to the drilling program, which is designed to test the extent of mineralisation at Company Well. No changes are proposed to the scope of the planned drilling activities. The Company will provide further updates as mobilisation is finalised and drilling started. This announcement is authorised for release by the Board of Directors of Indiana Resources Limited. New Risk • Jun 17
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €8.64m (US$9.93m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (47% average weekly change). High level of non-cash earnings (1,757% accrual ratio). Revenue is less than US$1m. Market cap is less than US$10m (€8.64m market cap, or US$9.93m). Minor Risk Profit margins are more than 30% lower than last year (-50% net profit margin). Tillkännagivande • May 29
Indiana Resources Limited Announces Management Changes Indiana Resources Limited had appointed Mr. Tim Slate as Company Secretary, effective June 1, 2026. Mr. Slate brought a wealth of experience, with over 15 years in the accounting and company secretarial profession. He had worked across a wide range of multinational corporations and smaller companies in Perth, including ASX and LSE-listed entities, private businesses, and collaborations with high-net-worth individuals. He held a Bachelor of Commerce from the University of Western Australia, was a Chartered Accountant, an Associate Member of the Governance Institute of Australia and a Graduate of the Australian Institute of Company Directors. Indiana Resources Limited had announced the resignation of Mr. Alex Neuling as Company Secretary, effective June 1, 2026. Indiana Resources Limited had announced the resignation of Mr. John Fitzgerald as Chief Operating Officer. These operational changes had enabled the Company to rationalise personnel roles and realise additional cost savings as part of its ongoing costs review. Tillkännagivande • Sep 13
Indiana Resources Limited, Annual General Meeting, Nov 06, 2025 Indiana Resources Limited, Annual General Meeting, Nov 06, 2025. Tillkännagivande • Jun 03
Indiana Resources Limited Takes Steps to Redress Tanzania’s Breach of the Settlement Deed Indiana Resources Limited provided the following update on the Settlement Deed concluded with The United Republic of Tanzania on 29 July 2024 [ASX Release 29 July 2024: USD 90million Settlement Agreement with Tanzania"]. The Company confirms that all instalments were received from Tanzania in compliance with the Settlement Deed. The Company has applied for a tax ruling from the Australian Taxation Office ("ATO") to make a payment to shareholders as a capital return and is awaiting final confirmation from the ATO as to an amount that can be paid as a capital return. The details of the distribution amount and timeline will be confirmed as soon as that advice is received by the Company. The Company also advises that subsequent to the receipt of a "Notice of Jeopardy Assessment" from the Tanzanian Revenue Authority's regional Lindi office ("Assessment"), as advised on 7 April 2025 (ASX Release 7 April 2025: USD 30 million received from Tanzania"), Tanzania has failed to withdraw the Assessment as requested and continues to be in breach of the Settlement Deed. To protect the Company and the Claimants from legal and accounting jeopardy, it became necessary to seek declaratory relief pursuant to the arbitration provisions of the Settlement Deed. Accordingly, a Notice of Arbitration has been lodged with the London Court of International Arbitration ("LCIA"). Further, in reservation of all rights and considering Tanzania's breach of the Settlement Deed, which specifically precluded the application of any form of taxation on the settlement amount or the recovery of any historical taxation amounts, the Claimants have not issued a letter of discontinuance to the International Centre for Settlement of Investments Disputes ("ICSID"), which would have concluded the ICSID arbitration process. Tanzania's breach of the terms of the Settlement Deed means that the Claimants can, should they choose, request that the ICSID Ad hoc Committee resume the annulment proceedings and deliver its award on annulment. If the suspension is lifted and Tanzania's annulment application is dismissed, then the Claimants expect that Tanzania will abide by its written undertaking to ICSID to pay the outstanding amount of the full Award plus interest to the Claimants within 45 days. Tillkännagivande • Nov 21
Indiana Resources Limited Announces Special Dividend, Payable on 20 December 2024 Indiana Resources Limited advised that the Directors have resolved to pay a special dividend of 5.0 cents per Share (unfranked). Ex date; 6 December 2024, Record date; 9 December 2024, Payment of the Special Dividend; 20 December 2024. New Risk • Oct 30
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: €446k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. 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$4.7m free cash flow). Share price has been highly volatile over the past 3 months (27% average weekly change). Revenue is less than US$1m (AU$210k revenue, or US$138k). Minor Risks Shareholders have been diluted in the past year (3.6% increase in shares outstanding). Significant insider selling over the past 3 months (€446k sold). Market cap is less than US$100m (€38.5m market cap, or US$41.7m). Tillkännagivande • Oct 03
Indiana Resources Limited, Annual General Meeting, Nov 21, 2024 Indiana Resources Limited, Annual General Meeting, Nov 21, 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 (29% average weekly change). Revenue is less than US$1m. 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 (18% increase in shares outstanding). Market cap is less than US$100m (€38.3m market cap, or US$42.5m). Tillkännagivande • Aug 01
Indiana Resources Limited Announces Executive Changes Indiana Resources Limited confirmed the appointment of Mr. Alexander Neuling to the role of Company Secretary with immediate effect. Ms. Kate Stoney and Mr. Josh Merriman have provided their resignations as Joint Company Secretary with effect from August 1, 2024. Mr. Neuling is an experienced corporate governance, finance and compliance professional and has approximately 20 years' experience in the resources industry with ASX listed entities. Mr. Neuling is a fellow of both the Governance Institute of Australia and the Institute of Chartered Accountants of England and Wales. Tillkännagivande • May 17
Indiana Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 1.442803 million. Indiana Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 1.442803 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 20,611,473
Price\Range: AUD 0.07
Transaction Features: Rights Offering Tillkännagivande • Mar 21
Indiana Resources Limited Announces the Resignation of David Ward as Non-Executive Director, Effective from 20 March 2024 Indiana Resources Limited has received the resignation of Mr. David Ward as a Non-Executive Director with effect from 20 March 2024. As a result of Mr. Ward's resignation, the company has cancelled the Extraordinary General Meeting that was due to be held on Friday 22 March 2024, as the sole resolution included in the Company's Notice of Meeting dated 20 February 2024 sought shareholder approval to remove Mr. Ward as a Director of the Company. New Risk • Mar 15
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$3.6m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. 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$3.6m free cash flow). Share price has been highly volatile over the past 3 months (26% average weekly change). Revenue is less than US$1m (AU$4.0k revenue, or US$2.6k). Minor Risks Shareholders have been diluted in the past year (23% increase in shares outstanding). Market cap is less than US$100m (€29.8m market cap, or US$32.4m). Tillkännagivande • Oct 18
Indiana Resources Limited Appoints Ms. Maja McGuire as Non-Executive Director Indiana Resources Limited announced that the appointment of Ms. Maja McGuire as a Non-Executive Director effectively immediately. Ms. McGuire brings to the company a strong skill set and experience as a commercial/corporate lawyer, providing important bench strength to Indiana's Board to support the current annulment and enforcement activities against Tanzania and arbitration with Loricatus. Ms. McGuire has established a 15-year track record in providing strategic, corporate, and compliance advice to listed public companies. Ms. McGuire's diverse experience encompasses roles as a non-executive chair, non-executive director, general counsel and company secretary, and top-tier private practice (Clayton Utz). Ms. McGuire is considered an independent director and holds LLB and BComm qualifications from The University of Western Australia. Tillkännagivande • Oct 06
Indiana Resources Limited, Annual General Meeting, Nov 30, 2023 Indiana Resources Limited, Annual General Meeting, Nov 30, 2023. Agenda: to consider election of Directors. 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 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 Risks Share price has been highly volatile over the past 3 months (33% average weekly change). Revenue is less than US$1m (AU$8.0k revenue, or US$5.1k). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Shareholders have been diluted in the past year (11% increase in shares outstanding). Market cap is less than US$100m (€18.9m market cap, or US$20.0m). Tillkännagivande • Sep 02
Indiana Resources Limited Announces Appointment of Mr. Josh Merriman as Joint Company Secretary Indiana Resources Limited advised the appointment of Mr. Josh Merriman as Joint Company Secretary with immediate effect. Mr. Merriman is an experienced finance professional who has held positions with public and private companies across several sectors. Ms Kate Stoney continues as Joint Company Secretary. For the purposes of ASX Listing Rule 12.6, the Company confirms that each of Ms Stoney and Mr. Merriman will be responsible for communication with ASX in relation to listing rule matters. Tillkännagivande • Feb 13
Indiana Resources Limited Announces High Grade Gold Results at Minos - Up To 95.6 g/t Au Indiana Resources Limited reported assays results from the Reverse Circulation (RC) drilling campaign completed at the Minos Prospect within Indiana's 100% owned 5,713 km2 Central Gawler Craton Gold Project in South Australia. A total of ten (10) drill holes for 1,668m were completed at Minos in December 2022, with the programme primarily designed to test the previously identified northwest parallel zone and tighten the existing drill density of the Minos mineralisation. The holes targeted at the new parallel structure intersected more high-grade mineralisation strengthening confidence in the continuity of gold zones at the Minos Prospect within the Lake Labyrinth Shear Zone (LLSZ). Minos remains open across strike, along strike in both directions and at depth. The December 2022 RC drilling programme at the Northwest end of Minos comprised ten (10) drill holes (LLRC111 to LLRC120) for a total of 1,668m and was designed to infill/extend the main structure plus test the new parallel zone to the south. Drilling intersected multiple significant zones of veining, shearing and alteration corresponding with the planned target zones. The results received from the December programme confirm the Company's geological interpretation and reinforces the LLSZ as a major gold bearing system. Significant results include: 12m at 9.06g/t Au from 106m in LLRC113 including 1m at 95.6g/t Au from 109m, and 11m at1.20g/t Au from 34m, 13m at 5.95g/t Au from 110m in LLRC112 including 1m at 34.0g/t Au from 111m, and 1m at 21.4g/t Au from 114m and 2m at 6.64g/t Au from 193m. 4m at 2.57g/t Au from 44m 16m at 3.43g/t Au from 120m in LLRC115 including 2m at 11.35g/t Au from 133m, and 14m at 1.31g/t Au from 92m. 5m at 2.25g/t Au from 139m. 15m at 1.90g/t Au from 37m in LLRC117. 9m at 1.50g/t Au from 40m in LLRC116 and 8m at 1.42g/t Au from 64m. 9m at 1.17g/t Au from 74m in LLRC118. Gold mineralisation at Minos remains open along strike in both directions and at depth. Drilling to date has outlined a 600-metre strike extent of shallow, near-surface gold mineralisation. Significantly the intercepts in LLRC113 and LLRC115 confirm a new zone of high-grade mineralisation that remains open. Previous significant results from Minos include: 38m at 6.54 g/t Au from 29m in LLRCD029 including 16m at 13.12 g/t Au from 37m; 21m at 8.43 g/t Au from 176m in LLRC041 including 1m at 159 g/t Au from 185m; 2m at 18.4 g/t Au from 162m in LLRC041 including 1m at 35.6 g/t Au from 163m; 26m at 4.28 g/t Au from 68m in LLRC025 including 3m at 20.21 g/t Au from 82m; 23m at 6.44 g/t Au from 186m in LLRC035 including 1m at118 g/t Au from 198m; 10m at 8.83 g/t Au from 39m in LLRC042, including 3m at 26.03 g/t Au from 40m, 36m at 2.63 g/t Au from 124m in LLRC069 including 1m at 12.60 g/t Au from 151m and 1m at 12.50 g/t Au from 159m. 10m at 4.40g/t Au from 123m in LLRC102 including 2m at 17.70g/t Au from 123m. Indiana is planning to recommence RC drilling in the April quarter at Minos to increase the understanding of the scale of the LLSZ potential. Auger soil geochemistry in the Minos-Ariadne corridor is also planned to test both across and along strike for additional drill targets. Gold mineralisation was intersected in all sections tested during this programme. The following is a summary from the NW end of Minos to the SW on local oblique grid sections: 10700, 10660, 10640, 10620 and 10540. LLRC111 and LLRC112 were completed on local Section 10700. The drill holes were completed to test the extension of the known strike towards the northwest. The holes intersected significant high-grade mineralisation in two structures beneath an earlier shallow RC drill fence. Significant new results on the section include: 13m at 5.95g/t Au from 110m in LLRC112, Including 1m at 34.0g/t Au from 111m, Including 1m at 21.4g/t Au from 114m; 2m at 6.64g/t Au from 193m in LLRC112 and 4m at 2.57g/t Au from 44m in LLRC112. LLRC113 and LLRC114 were completed on local Section 10660, adjacent to previous significant mineralisation in drill hole LLRC069 which returned 36m at 2.63 g/t Au from 124m; including 1m at 12.60g/t Au from 151m and 1m at 12.50g/t Au from 159m. LLRC113 intersected high-grade mineralisation from 106m downhole interpreted to be the northern extension of the new parallel zone. and a shallower intercept from 34m interpreted to be an adjacent structure to the Northeast. Significant new results on the section include: 12m at 9.06g/t Au from 106m in LLRC113, including 1m at 95.6g/t Au from 109m and 11m at1.20g/t Au from 34m in LLRC113. LLRC115 and LLRC116 were completed on local Section 10640. LLRC115 intersected high-grade mineralisation within the interpreted parallel zone Southwest of the main structure. LLRC116 intersected significant mineralisation near surface and up dip of previous intersections in the main zone. Significant new results on the section include: 16m at 3.43g/t Au from 120m in LLRC115, including 2m at 11.35g/t Au from 133m. 14m at 1.31g/t Au from 92m in LLRC115. 5m at 2.25g/t Au from 139m in LLRC115. 9m at 1.50g/t Au from 40m in LLRC116 and 8m at 1.42g/t Au from 64m in LLRC116. Tillkännagivande • Jan 31
Indiana Resources Limited Provides Update on Arbitration - Ntaka Hill Nickel Project Indiana Resources Limited provided the following update on the dispute with the United Republic of Tanzania ("Tanzania") which is the subject of arbitration through the International Centre for Settlement of Investments Disputes ("ICSID"). As the majority shareholder in Ntaka Nickel Holdings Ltd. ("NNHL") and Nachingwea UK Ltd. ("NUK") (both incorporated in the United Kingdom), Indiana is the manager of the Joint Venture and responsible for all activities for the pending arbitration. The Company confirms that the evidentiary hearing has commenced at the Washington headquarters of ICSID, an organisation of the World Bank Group. The hearing will be presided over by a 3-person tribunal panel and is scheduled to conclude on 4th February 2023. The ICSID Convention has been ratified by 158 States, including Tanzania. An award issued by an ICSID tribunal is enforceable in any one of those 158 member States as if it were a judgment of one of their own courts. Partly because of this, States often comply voluntarily with the payment terms of such awards. LALIVE and Boies Schiller Flexner LLP, two international law firms that specialise in international arbitration, are representing the Claimants in the arbitration process, with the Claimants seeking compensation of USD 98.83 million for the loss of their investment in Tanzania (including interest up to July 2022, which continues to accrue). In addition, the Claimants seek reimbursement of their arbitration costs and fees by Tanzania. A litigation funding facility for USD 4.65 million is in place with Litigation Capital Management Limited ("LCM"), a firm listed on the Alternative Investment Market ("AIM") of the London Stock Exchange. This funding facility covers all legal costs associated with arbitration and is only repayable in the event of a successful award that is recovered from the United Republic of Tanzania. In July 2017, the Government of Tanzania amended the Mining Act 2010 by, inter alia, abolishing the legislative basis for the Retention Licence classification with no replacement classification. On 10 January 2018, Tanzania published the Mining (Mineral Rights) Regulations 2018, which cancelled all Retention Licences issued prior to 10 January 2018 at which point they ceased to have any legal effect. The rights over all areas under Retention Licences, including the Retention Licence held for the Project, were immediately transferred to the Government of Tanzania. During the time from January 2018 to December 2019, the Company actively engaged with the Tanzanian Minister for Minerals and the Mining Commission in an effort to resolve a suitable tenure mechanism for the Project Licence to be reinstated. Tillkännagivande • Jan 24
Indiana Resources Limited Receives the First Results from the Air Core Drilling Program at Minos Ree Prospect Within its 100% Owned 5,713 Km2 Central Gawler Craton Exploration Project in South Australia Indiana Resources Limited announced that it has received the first results from the Air Core (AC) drilling program completed in December 2022at the Minos REE Prospect within Indiana's 100% owned 5,713 km2 Central Gawler Craton Exploration Project (CGCP) in South Australia. The December AC program comprised 72 holes completed for a total of 3,251m. Assays from the first 3 holes have been received and results confirm that the REE mineralisation extends approximately 1.2 km Southwest from the already identified Minos REE trend. Results from the remaining holes are expected in late February 2023 due to constraints at the assay laboratory. Highlights: Initial assay results confirm significant REE mineralisation 1200m south of Minos trend. 23m thick zone of TREO enrichment in weathering profile. Significant REE clay hosted intersections include: 17m @ 1,619ppm TREO from 64m (LLAC082) including, 14m @ 509ppm MREO from 67m including, 2m @ 2,597ppm TREO and 900ppm MREO from 71m. 23m @ 1,373ppm TREO from 32m (LLAC081) including: 8m @ 638ppm MREO from 37m including, 1m @ 4,431ppm TREO from 38m and 1m @ 1086ppm MREO from 38m and, 2m @ 1122ppm MREO from 43m. 23m @ 734ppm TREO from 34m (LLAC080) including 3m @ 1,047ppm TREO from 48m. New zone contains high grade clay hosted TREO with a significant MREO component. High grade MREO (>300ppm) horizontal layer present similar to NW end of Minos. Remaining Phase 1 Minos REE assay results (69 holes) expected end February 2023. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director Bob Adam was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Executive Departure • Jun 09
Non-Executive Director Lindsay Williams has left the company On the 1st of June, Lindsay Williams' tenure as Non-Executive Director ended after less than a year in the role. As of March 2021, Lindsay still personally held only 875.00k shares (€38k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 1.33 years, which is considered inexperienced in the Simply Wall St Risk Model. Executive Departure • Mar 03
Independent Non-Executive Director has left the company On the 28th of February, Steven Zaninovich's tenure as Independent Non-Executive Director ended after 2.0 years in the role. As of December 2020, Steven personally held 3.11m shares (€103k worth at the time). Steven is the only executive to leave the company over the last 12 months. 
