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Industrial Minerals Ltd (ASX:IND)

ALERT: Price-sensitive ASX Announcement for IND
Current share price for IND : $0.125 0.005 (4.17%)+
Announcement
Release
28 Jul 2026 2:48PM
Price at Release
$0.120
Full Release
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Summary
Industrial Minerals Ltd (IND) provided an update on their activities for the June 2026 quarter, highlighting a pivotal acquisition of Galleon Metals Limited, which owns the Laverton Gold Portfolio. This acquisition aligns with their strategy to diversify their asset base. The Laverton Gold Portfolio, located in Western Australia's Eastern Goldfields, is noted for its substantial gold endowments. To support its exploration efforts, IND completed the first tranche of a capital raise, generating $2 million. The company also embarked on a comprehensive geophysical review to refine drill targets for its gold project. Financially, IND reported positive cash flow from financing activities, ending the quarter with $2,081,000 in cash and cash equivalents. During the period, payments to related parties amounted to $66,963.
Key Points
  • Industrial Minerals Ltd (IND) entered into a binding agreement to acquire Galleon Metals Limited, enhancing their Laverton Gold Portfolio.
  • The Laverton Gold Portfolio is positioned in the Eastern Goldfields of Western Australia and includes significant gold deposits.
  • IND raised $2 million through the first tranche of a two-tranche placement to fund exploration programs.
  • The company conducted a geophysical review to prioritize drilling targets for their Laverton Gold Project.
  • IND reported net cash inflows from financing activities amounting to $1,913,000 in the quarter.
  • Significant payments to related parties totaled $66,963 in the June 2026 quarter.
  • The company’s cash and cash equivalents at the end of the period amounted to $2,081,000.
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.