IND is in the market looking to raise A$5 million at 20c, believing the time is right to develop new sources of high purity silica sand, gypsum, salt, construction sand and aggregates for domestic and international markets.

 

Executive chairman Ashley Pattison, who has worked with the trio at Firefly Resources and Firebird Metals, noted recent commentary that "has put the world on notice" about rising demand for good quality sands with utilisation tripling over the past 20 years, but increasingly tight supply.

 

IND has pulled together a range of projects in the Perth Basin and Pilbara regions of Western Australia, including some identified by operations director Jeffrey Sweet, who until recently was general manager at CI Resources.

 

Kumova, Gianni and Jewson expect to own a combined 34.1% of the company post-listing, with Pattison and Sweet each owning 6.46%.

 

IND's core projects are the Quins silica sand project at Ledge Point, about 100km north of Perth and the Lake Macleod gypsum and salt 150km north of Carnarvon. 

 

Quins has $610,000 budgeted to support two phases of drilling are planned to understand the distribution of the well-understood Bassendean Sand, with the aim of lodging mining lease - something Perpetual has just been awarded.

 

The other priority project, with $650,000 budgeted, is Lake Macleod where past auger drilling has defined high-grade gypsum of up to 97.6%, with an average grade of 91.2%, while work since 1965 has indicated suitability to produce potash salts by surface evaporation.

 

Also in the Pilbara are the Turner River, Karratha and Roebourne construction sand and sand aggregate projects, where early sampling has been encouraging.

 

In the Mid West are the Cataby West, Mullering, Jurien, Regans Ford, and Gingin silica sand leases, which also target the Bassendean Sands, with some areas previously explored by Image Resources.

 

In the Great Southern is Unicup, 130km from Albany, where sampling last year recovered up to 99.4% silica.