Indiana Resources

Primary ticker: ASX:IDA
Stage of development: Exploration
Primary minerals: Gold
Project to promote: Koussikoto Ouest, Kenieko Nord, Kossanto West

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Indiana Resources (ASX:IDA) is an Australian Resources company with a strategic position in Mali and legacy assets in south-eastern Tanzania. The Malian Assets consist of the Koussikoto Ouest, Kossanto and Kenieko Nord projects which are located in the prolifically mineralised Kenieba Province of western Mali, approximately 550 km west of the capital city of Bamako. Indiana is looking to aggressively grow its Malian portfolio going forward.
The Tanzanian assets include the Ntaka Hill Nickel deposit. The company is awaiting confirmation of its Tenure over the Ntaka Hill Ni deposit.

Management Profile

Chris van Wijk – Managing Director

Mr van Wijk is a qualified geologist with extensive experience in both francophone West Africa and East Africa, having led multi-national exploration teams across a range of commodities in several countries. He has a proven record in base and precious metals exploration, commercial negotiations and business development.

Bronwyn Barnes – Non-Executive Chair

Ms Barnes has had an extensive career in the resources sector, having worked with companies ranging from Western Mining Corporation and BHP Billiton to emerging juniors in directorship, executive leadership, and operational roles in Australia and internationally.

What is your rationale for attending 121 Mining Investment?

Indiana Resources is seeking new investors as well as additional projects to try and grow the Mali portfolio. In addition Indiana will be gauging interest in it’s Ntaka Hill project.

What recent news would you like to highlight to investors attending?

In the last 6 months Indiana has gained an initial ground position in Mali and then doubled its land holding through the joint venture with Cradle Arc. The company has completed one drill program which generated several exciting targets requiring follow-up.

What are your key goals for the next 3, 6 and 12 months?

3 Months:

Indiana aims to finalise its funding arrangements for 2019 to allow for ongoing exploration on the Malian assets. First drill results expected in the next 3 months.

6 Months:

Add to ground position in Mali to build a project pipeline and firm up exploration targets allowing a move from exploration to Resource Definition. Resolve the tenure situation over Ntaka Hill and firm up plans for advancing this project.

12 Months:

Test priority targets for Resource Definition drilling. Have established a sustainable pipeline of projects and key funding to continue exploration in Mali – a steady state. Have moved Ntaka Hill out of the Indiana stable to a development partner to advance to completion.

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Key risks are the ability to raise money in the current market, Security concerns in Mali and the deteriorating political outlook in Tanzania. Funding for junior exploration companies in the current market is a key challenge. Indiana Resources is fortunate to have the good will of our major shareholders who have supported the stock and contributed ongoing funding.

In a sentence, what do you think makes your company such a compelling investment?

The Company has established a large land package in a tightly held, highly prospective geological terrane, which is being actively explored by an experienced, professional local team.