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Share Watch – 3 July 2022

Updated: Sep 25, 2022

Share Watch –  Industrial Minerals (ASX:IND)

From Stockhead:

Industrial Minerals’ (IND) portfolio of silica (high purity) sand projects in WA has grown substantially since it listed on the ASX mid last year.

The most advanced is ‘Stockyard’, where recent drilling results more than doubled the previously defined footprint.

The High Purity Silica Sand (HPSS) defined by auger drilling now extends over a combined area of almost 7 million square metres to an average depth of 1.05 metres, IND said late May.

“Stockyard represents the first in a pipeline of exciting projects that IND intend to evaluate through low impact and low-cost exploration, enabling a rapid pathway to development and mining of high-purity silica sand for export to the high-growth Asian markets,” the company says.

“Development of the Stockyard Project will form a blueprint for IND’s strategy going forward, with a further 11 HPSS projects set to feature in upcoming exploration campaigns.”

The $20m market cap stock is up 43% year-to-date. It had $3.7m in the bank at the end of March.

Financial indicators

The VIX fear gauge down by 4.43 points since 19 June to 26.70.

The Dow Jones Industrial Average up 1,208.48 points or 4.04% since 19 June to 31,097.26, the STOXX 600 up 3.88 points or 0.96% to 407.13 and the Shanghai Composite index up 191.98 points or 6.01% to 3,387.64.

Gold on 1,812.90. US 10-year Treasury Bonds down to 2.894 and oil down to 108.46. Cryptos Bitcoin down by 10,335 points or 34.17% to 19,037.

ASX 200 up 65.10 points or 0.10% since 19 June to 6,539.90. The Aussie dollar down to 68.15 US cents.

Carbon Market Spot Prices

LGC $49.80                                                     STC $39.95

ESC $31.10                                                     VEEC $70.50

ACCU $35.40                                                  EU ETS €88.35

NZU $NZ75.40                                                 UK ETS GBP85.49

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