Australian Industrial Minerals Ltd (ASX: AAM) ) has acquired 100% of Australian Abrasive Minerals Pty Ltd which holds the Harts Range Project, located 140km northeast of Alice Springs in the Northern Territory. The Project has JORC 2012 compliant Ore Reserves that support an initial mine life of 9.25 years, with Measured and Inferred Mineral Resources with potential to extend the mine life. The Ore Reserves and Mineral Resources contain the complete range of garnet grain particle sizes required for industrial abrasive applications.
AAM’s objective is to extract, process and sell industrial abrasives (principally garnet) from an easily accessible alluvial sand deposit. These abrasives are used in abrasive blast cleaning, waterjet cutting and water filtration applications. The Company’s primary objective is to maximise production at the Project and leverage off the continued global demand for a reliable supplier of environmentally friendly abrasive products. The Company is also pursuing a strategy to become a diverse industrial minerals producer and supplier, by acquiring production-ready industrial mineral opportunities that are a strategic fit for the Company.
Pay by: March 8
List Price: $0.25
Minimum Investment: $2,000
Maximum Investment: $10,000