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Industrial Minerals Ltd (ASX:IND)

ALERT: Price-sensitive ASX Announcement for IND
Current share price for IND : $0.130 -0.035 (-21.21%)+
Announcement
Release
13 May 2026 9:54AM
Price at Release
$0.165
Full Release
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Summary
Industrial Minerals Ltd (IND) has acquired the Laverton Gold Project through a 100% purchase of Galleon Metals Ltd. The project is located within the Laverton Tectonic Zone in Western Australia, known for its significant gold production. The acquisition includes 15 exploration licenses covering approximately 205 square kilometers with drill-ready targets. IND plans to conduct extensive drilling operations starting in the fourth quarter of 2026. The acquisition is funded through a $3 million capital raise and involves a binding share sale agreement for 46,666,667 shares at $0.10 per share. Following the acquisition, IND will continue to explore and develop the Laverton Gold Project while maintaining its existing portfolio of advanced high purity quartz, feldspar, and silica projects across Western Australia.
Key Points
  • IND acquired Laverton Gold Project by purchasing Galleon Metals Ltd.
  • Project located in Laverton Tectonic Zone, Western Australia.
  • 15 exploration licenses covering ~205 km² with drill-ready targets.
  • Drilling operations planned for Q4 2026.
  • Funding through $3 million capital raise and share sale agreement.
  • Continued exploration and development of Laverton Gold Project.
  • Maintains existing portfolio of quartz, feldspar, and silica projects.
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.