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Indiana Resources Limited (ASX:IDA)

ALERT: Price-sensitive ASX Announcement for IDA
Current share price for IDA : $0.019 -0.011 (-36.67%)+
Announcement
Release
30 Apr 2026 3:03PM
Price at Release
$0.030
Full Release
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Summary
Indiana Resources Limited reported a consolidated closing cash balance of $31.2 million at the end of March 2026, noting significant quarterly outflows, including $0.3 million in administration and $0.9 million in legal costs due to ongoing arbitration with Loricatus. Exploration and evaluation costs were steady at $0.7 million. The company has initiated a strategic review to maximize the value of its South Australian assets amidst arbitration proceedings with Tanzania. The Appendix 5B quarterly report reflects a net cash outflow in operating activities and payments to directors of $74,000. No new mining tenements were acquired or disposed of during the quarter.
Key Points
  • Indiana Resources Limited reported a consolidated closing cash balance of $31.2 million at 31 March 2026.
  • The company experienced significant cash outflows of $0.3 million in administrative costs and $0.9 million in legal costs related to arbitration with Loricatus.
  • Exploration and evaluation costs for the quarter amounted to $0.7 million.
  • No new mining tenements were acquired or disposed of during the quarter.
  • A strategic review is underway to unlock value from South Australian assets amid ongoing arbitration regarding settlement proceeds from Tanzania.
  • The Appendix 5B report indicates net cash used in operating activities was $(1.6) million for the quarter.
  • Payments to directors totaled $74,000 during the quarter.
  • The company is focused on advancing its exploration projects in the Central Gawler Craton Province, South Australia.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.