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INDIANA RESOURCES LIMITED (IDA)

Click here for free access to this company's:
ASX, Legal & CGT Status

Former (or subsequent) names

 FROMTO
INDIANA RESOURCES LIMITED22/06/2016
IMX RESOURCES LIMITED22/12/200822/06/2016
IMX RESOURCES NL11/12/200722/12/2008
GOLDSTREAM MINING NL11/12/2007

Shareholder links

Our website ranking of IDA: rating 5
(5 out of 5)
COMPANY WEBSITE:

 

REGISTRY:

Computershare Perth
Level 17, 221 St Georges Terrace, Perth WA 6000
Tel : +61 (0)3 9415 4000 or 1300 850 505 (within Australia)
Fax : +61 3 9473 2500
RegistryWebsite RegistryEmail

Company details

ISIN: AU000000IDA0
Address: Level 2, 50 Kings Park Rd West Perth WA 6005
Tel:  +61 (08) 6241 1870Fax: +61 8 9382 2399

Date first listed: 17/07/1986

Sector: Materials Industry Group: XMJ
Activities: Mineral exploration and development

News & Events

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The suspension of trading in the securities of Indiana Resources Limited will be lifted from the commencement of trading on Wednesday, 2 October 2024 following lodgement of its Full Year Accounts.

01/10/2024

The company lodges its Annual Report to shareholders.

01/10/2024

The securities of the company will be suspended from quotation under Listing Rule 17.5 from the commencement of trading today, Tuesday, 1 October 2024, for not lodging the relevant periodic report by the due date. If the report is lodged between the closure of the market announcements office on Monday, 30 September 2024, and the imposition of the suspension, the entity's securities will normally be reinstated to quotation on the next trading day after the suspension is imposed.

01/10/2024

The suspension of trading in the securities of Indiana Resources Limited will be lifted immediately following the release by IDA of an announcement regarding a settlement being reached with the United Republic of Tanzania in relation to the arbitration proceedings at the International Centre for Settlement of Investment Disputes, a division of the World Bank.

29/07/2024

The Company will be hosting a shareholder briefing by webinar at 12.30pm AWST (2.30pm AEST) on Thursday, 1 August 2024. Executive Chair Bronwyn Barnes will provide an update on the recently announced settlement with the United Republic of Tanzania in relation to the ongoing ICISD arbitration and annulment process. Date and Time: 12.30PM AWST (2.30PM AEST) on Thursday, 1 August 2024. Register via: https://register.gotowebinar.com/register/3878905939735514718.

29/07/2024

Tanzania has agreed to pay a total US$90 million in settlement of the ICSID dispute. Settlement sum payable by Tanzania in three instalments: US$35 million "“ received from Tanzania, US$25 million "“ on or before 25 October 2024, US$30 million "“ on or before 30 March 2025. Settlement sum represents 82.5% of the original amount of the ICSID Award of US$109 million. Litigation funding and legal costs to be repaid from first instalment, with funds retained for annulment and/or arbitral proceedings and enforcement if further instalments are not paid by Tanzania. Distribution between the Claimants is currently being negotiated with a further announcement to be made in due course. Following completion Indiana anticipates distributions to shareholders as follows: First distribution proposed for December 2024, Second distribution in Q2 2025, Indiana to immediately advance exploration activities at its Central Gawler Craton Project, South Australia.

29/07/2024

The company lodges its Quarterly Activities/Appendix 5B Cash Flow Report.

26/07/2024

RC and AC drilling programs for gold and REE completed at Minos and Hopeful Hill. 13 holes (5 RC & 8 AC) completed for 1,308 metres at Minos. RC drilling program completed at Hopeful Hill for 3 holes of a total of 330 metres. Assay results expected in August 2024.

04/07/2024

The securities of Indiana Resources Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of IDA, pending the release of an announcement regarding a settlement being reached with the United Republic of Tanzania in relation to the arbitration proceedings at the International Centre for Settlement of Investment Disputes (ICSID), a division of the World Bank.

04/07/2024

The suspension of trading in the securities of Indiana Resources Limited will be lifted immediately following the release by IDA of an announcement regarding a decision from the ICSID ad hoc Committee concerning the stay of enforcement of the Award against the United Republic of Tanzania and the hearing on the Claimants' preliminary objection to Tanzania's request for annulment of the Award.

27/12/2023

he Attorney General of Tanzania has provided an undertaking to the Claimants and the ad hoc committee of the International Centre for Settlement of Investment Disputes, a division of the World Bank, that it will: Pay the full amount of the Award plus interest to the Claimants within 45 days of the final decision on annulment; Not subject the payment of the Award to any enforcement proceedings or to the scrutiny of Tanzanian courts; Abide by the final annulment decision when delivered by the ICSID ad hoc Committee. Total amount payable by Tanzania under the Award now stands at US$118 million "“ comprising US$114 million to date plus costs of US$4.28 million. Interest continues to accrue at the rate of US$1 million per month until the full amount is paid to the Claimants. A hearing on the Claimant's preliminary objection to Tanzania's annulment application took place on 20 December 2023 "“ timetable for annulment process remains on track. Indiana also notes a recent US$1.1 billion financing package provided to Tanzania from the World Bank.

27/12/2023

The securities of Indiana Resources Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of IDA, pending the release of an announcement in relation to a decision from the ICSID ad hoc Committee concerning the stay of enforcement of the Award against the United Republic of Tanzania and the hearing on the Claimants' preliminary objection to Tanzania's request for annulment of the Award.

22/12/2023

The suspension of trading in the securities of Indiana Resources Limited will be lifted immediately following the release by IDA of an announcement regarding a capital raising.

18/10/2023

First session of the ICSID ad hoc Committee was held on 11 October 2023 to consider the timeline for Tanzania's application for annulment of the recent Award. Prior to the First Session, the Claimants made an application to dismiss Tanzania's application for annulment as manifestly without legal merit. The Claimants opposed Tanzania's request to continue the provisional stay of enforcement so that the enforcement process can continue in parallel with any annulment proceedings. The Claimants have commenced identifying assets of interest held by Tanzania. The total amount payable by Tanzania under the Award now stands at US$112.4 million to date plus costs of US$4.3 million. Interest continues to accrue at the rate of approximately US$1 million per month.

18/10/2023

The company releases an Investor Presentation.

18/10/2023

The company releases a notice of proposed issue of securities.

18/10/2023

Indiana successfully raises $3,828,050 through placement to new and existing sophisticated investors in Australia and London. Director participation in placement of $140,000 "“ subject to shareholder approval. Funds raised will be used to accelerate and advance the following key work streams, as well as additional working capital: REE and gold exploration activities in Gawler Craton, South Australia; Annulment and enforcement activities following the US$110M+ ICSID award against Tanzania; Arbitration activities in the shareholder dispute with Loricatus. Mat Perrot appointed as Exploration Manager to drive South Australian exploration. Indiana remains well positioned to unlock considerable value over the coming months through enforcement of the award against Tanzania and exploration activity.

18/10/2023

The Company requests the voluntary suspension to remain in place until the earlier of the time it makes an announcement to the market about the capital raising and commencement of trading on Wednesday, 18 October 2023.

17/10/2023

The securities of Indiana Resources Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of IDA, pending the release of an announcement regarding a capital raising.

16/10/2023

The suspension of trading in the securities of Indiana Resources Limited will be lifted immediately following the release by IDA of an announcement regarding a capital raising and an accelerated discovery initiative grant from the Government of South Australia.

21/06/2022

Indiana receives $255k funding grant from the South Australian Government through the Accelerated Discovery Initiative. Leading industry expert Dr Jon Hronsky AOM recently completed a technical review of the Harris Greenstone Domain that has highlighted the potential for Volcanogenic Massive Sulphide Zn-Cu mineralisation. The grant will advance Indiana's VMS targets at the Harris Greenstone Domain in the Central Gawler Craton Project. The review identified a large-scale 17km zone of zinc anomalism with historic drill intercepts of ≥ 1000ppm Zn. Dr Hronsky's review also recommended further work to assess nickel-sulphide potential within the Harris Greenstone Domain. Funding grant from SA Government covers various exploration activities including: airborne Electromagnetic survey, exploration drilling of targets and aboriginal training and employment programmes. Indiana continues to unlock significant value from its "˜district scale' Gawler Craton landholding with significant gold, Rare Earth Elements and base metal potential now identified. Helicopter EM survey planned to define conductive bodies related to massive sulphide mineralisation for follow-up drilling.

21/06/2022

The company releases a notice of proposed issue of securities.

21/06/2022

The company has received firm commitments from sophisticated and professional investors for a placement to raise $1,840,582.25 (before costs) through the issue of 36,811,645 fully paid ordinary shares. Funds raised will be used to advance exploration activities at its Central Galwer Craton Project. The company's directors also showed strong support by collectively subscribing for $110,000 worth of placement shares.

21/06/2022

The securities of Indiana Resources Limited will be suspended from quotation from the commencement of trading on Monday, 20 June 2022 under Listing Rule 17.2, at the request of IDA, pending the release of an announcement regarding the completion of a capital raising.

20/06/2022

The suspension of trading in the securities of Indiana Resources Limited will be lifted immediately, following the release by IDA of an announcement regarding a potential joint venture agreement and funding transaction.

08/02/2019

Indiana agrees a non-binding term sheet for a joint venture for exploration licenses in the Mali Gold belt strategically located to the Company's existing Mali exploration project. Indiana can earn up to an 85% interest in the Lakanfla and Tabakarole gold projects. Projects comprise 124km2 and potentially enhance the Company's tenement interests to over 387km2. Lakanfla and Tabakarole are located 6km south-east of the Sadiola gold mine (13Moz) in the prolifically gold mineralised Kenieba Province of western Mali. Agreement subject to a 60-day exclusivity period, due diligence and other conditions precedent. Company proposes to raise $0.6M through share placement to sophisticated investors.

08/02/2019

The company requests that the voluntary suspension of its securities remain in place until the earlier of the commencement of normal trading on 7 February 2019 or release of an announcement.

05/02/2019

The company lodges its December Quarterly Activities Report and Appendix 5B.

31/01/2019

The securities of Indiana Resources Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of IDA, pending the release of an announcement regarding a potential joint venture agreement and funding transaction.

31/01/2019

The suspension of trading in the securities of Indiana Resources Limited will be lifted immediately, following the release by the Company of an announcement regarding an acquisition and capital raising.

01/03/2018

The company has reached agreement on a detailed term sheet ) which provides for the acquisition of Mukuyu Resources Limited, the owner of interests in two highly prospective gold exploration licences in western Mali. The Company has received firm commitments to place 13,798,000 shares to raise $896,870 enabling immediate advancement of exploration activities.

01/03/2018

The securities of Indiana Resources Limited will be suspended from official quotation immediately, at the request of the Company pursuant to listing rule 17.2, pending the release of an announcement regarding a potential project acquisition.

28/02/2018

The suspension of trading in the securities of Indiana Resources Limited will be lifted immediately following the release of an announcement regarding a capital raising.

11/04/2017

The company has received subscriptions to purchase 10,534,545 fully paid ordinary shares at $0.12 per share to raise approximately $1.26 million through a placement to professional and sophisticated investors. Proceeds will be used to accelerate planned exploration programs for the Naujombo and Kishugu gold propsects in south-east Tanzania.

11/04/2017

The company requests an extension of the voluntary suspension in the trading of the Company's securities, effective immediately. The announcement is expected to be no later than Tuesday, 11 April 2017.

10/04/2017

The securities of Indiana Resources Limited will be suspended from quotation immediately, at the request of the Company, pending the release of an announcement.

07/04/2017

name changed from IMX Resources Limited

22/06/2016

 

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    Click here for free access to this company's:
    ASX, Legal & CGT Status

    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNUMBERPRICEAMOUNT
    17/09/2024Bronwyn Barnes500,000$0.092$46,000
    17/09/2024Bronwyn Barnes500,000$0.092$46,000
    05/08/2024Bob Adam233,000$0.087$20,271
    31/07/2024Bronwyn Barnes450,000$0.078$35,100
    14/03/2019Bronwyn Barnes400,000$0.048$19,002

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Bronwyn BarnesExecutive Chairman05/04/2017
    Lindsay OwlerCEO01/12/2024
    Trevor HarrisCFO09/06/2021
    Bob AdamNon Exec Director29/01/2019
    Maja McGuireNon Exec Director18/10/2023
    Alex NeulingCompany Secretary01/08/2024

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Kate StoneyCompany Secretary01/08/2024
    Josh MerrimanCompany Secretary01/08/2024
    David WardNon Exec Director18/10/202221/03/2024
    Richard MaishCEO18/10/202217/02/2023
    Michael RosenstreichIndependent Director01/06/202218/10/2022
    Felicity Repacholi-MuirTechnical Director02/06/202118/10/2022
    David WilliamsNon Exec Director02/11/202002/06/2021
    Steven ZaninovichNon Exec Director28/02/201928/02/2021
    Chris van WijkCEO19/11/201801/03/2019
    Bruce McFadzeanNon Exec Director30/03/201525/01/2019
    Morgan BarronNon Exec Director15/10/201819/11/2018
    Derek FisherNon Exec Chairman11/02/201415/10/2018
    Campbell BairdManaging Director15/06/201614/09/2017
    Philip HoskinsManaging Director17/01/201215/06/2016
    Nicholas CorlisExecutive Director22/04/201415/06/2016
    Kellie BendaNon Exec Director01/08/201230/03/2015
    Wei SunNon Exec Director16/03/201217/12/2014
    Gary SutherlandManaging Director02/04/201430/09/2014
    John NitschkeNon Exec Director23/12/200931/07/2014
    David ConstableNon Exec Director02/08/201202/04/2014
    Neil MeadowsManaging Director28/11/201116/10/2013
    Stephen HuntNon Exec Director03/07/200722/08/2013
    Song YuangangNon Exec Director30/07/201023/05/2013
    Cao KuiNon Exec Director13/03/200819/06/2012
    Tony HaggartyNon Exec Director29/01/200823/05/2012
    Chen YuAlternate Director30/11/-000118/03/2012
    Johann Jooste-JacobsChairman12/08/200710/02/2012
    Andrew SteersCEO, CFO12/02/201018/01/2012
    Duncan McBainManaging Director30/03/200617/08/2011
    Terrence RobsonNon Exec Director10/12/199027/11/2007
    Geoff WallaceNon Exec Director01/07/199804/07/2007
    George KenwayNon Exec Director27/06/198830/03/2006
    Mark StewartNon Exec Director31/08/200428/02/2006

    Date of first appointment, title may have changed.