Coffee with Samso Episode 84 with Bronwyn Barnes, Executive Chairman of Indiana Resources Limited (ASX: IDA), is all about searching for Lasseter's Reef in the Gawler Craton.
What attracted me to Indiana Resources were the projects they operated in the Gawler Craton. In the mid to late 1990s, the Gawler Craton was the place to be for mineral explorers. Discoveries such as Prominent Hill were made in 2001 and got the attention of many companies that were driven to seek further resources.
Discoveries were being made but reality soon set in. Investors came to understand and realise that the remoteness and the lack of infrastructure were not aligned to market volatility. Interest in this region eventually faded away and funding was not easy to source for support of any concepts. This led to the Gawler Craton story to being unloved over time.
Interestingly enough, it is this exact stage of the story that gets me all excited. Nearly two decades of neglect in this region has now created a situation of a new frontier in Australia's backyard. Can you imagine the area in and around Challenger having no other major resource of mines? A similar situation around any of the other major mines and you would see numerous mining activities.
Indiana Resources is one of only four players in the region and they are already showing successful drilling results. They are now discovering what explorers discovered in Kalgoorlie region, Murchison region, Menzies, Laverton ... and the list goes on.
As we discussed in the video, there is no guarantee of success but I would say that there are definitely some good signs of success.
When I think of the Gawler Craton in a nutshell, I am also thinking of the big style deposits like Olympic Dam, Prominent Hill, Challenger and a recent discovery called Paris. I think of IOCG and what comes to mind is the need for a large exploration budget.
To me, the Gawler Craton is one of the last frontiers in Australia where a mineral province will be discovered.
00:35 Bronwyn Introduces Indiana Resources
02:02 The Gawler Craton Projects
03:50 Lack of exploration activities in the Gawler Craton
05:39 The excitement of Minos
07:53 The blank canvas of the Indiana Resource projects
09:46 Other commodities within the projects
11:07 The unimaginable size of the projects
12:36 The prospectivity of the region has not been realised
13:54 What is the market for these type of projects?
16:05 The rise of the African Economy
17:50 The Tanzanian Story
22:35 The Arbitration is fully funded
23:49 Where is the funding coming from?
24:34 Change in Presidency - will that affect the Arbitration
25:32 Foreign Investment and African Politics
26:37 Free Option to $95M
27:07 News Flow
29:23 Why Samso likes Indiana
About Bronwyn Barnes
Bronwyn has had an extensive career in the resources sector, having worked with companies ranging from Western Mining Corporation and BHP to emerging juniors in directorship, executive leadership, and operational roles in Australia and internationally.
Bronwyn is currently Non-Executive Chair of Indiana Resources (ASX:IDA), Non-Executive Director of Synergy (Electricity Generation and Retail Corporation), a Non-Executive Director of Scorpion Minerals Pty Ltd (ASX:SCN) and an Independent Director of Perth Racing.
Bronwyn is also a member of the Executive Council of the Association of Mining and Exploration Companies (AMEC) and a Member of the Board of Management of the Foundation for St Mary’s Anglican Girls School.
About Indiana Resources Limited
Indiana Resources Limited (ASX:IDA) is an Australian-based gold exploration company focused on advancing its portfolio of exploration tenements in the highly prospective Central Gawler Craton Gold Province in South Australia.
Indiana’s ground position in the Gawler Craton covers 5,090 km² – with the Company’s tenements strategically located between the historic gold mining centres of Tunkillia and Tarcoola.
The Central Gawler Craton has outstanding potential for the discovery of significant gold deposits, as indicated by the Tunkillia deposit (588,000 ounce gold resource), which adjoins the southern edge of Indiana’s portfolio and the historical mining centre of Tarcoola, which adjoins the northern edge of Indiana’s portfolio, where historic production and current resource total approximately 190,000 ounces.
Indiana is also the major shareholder of Ntaka Nickel Holdings Ltd and Nachingwea UK Ltd (both incorporated in the United Kingdom) which historically held the licences for the Ntaka Hill Nickel Project through its 100% owned subsidiary Nachingwea Nickel Ltd. The Ntaka Hill Nickel Project is an advanced nickel sulphide project that is development ready. In early 2020, the Companies advised the Tanzanian Government that a dispute had arisen in relation to the cancellation of the Retention Licence for Ntaka Hill. Indiana is the manager of the Joint Venture for the Project and is leading activities to progress a Claim to Arbitration against the Government of Tanzania for the illegal expropriation and loss of the Ntaka Hill Nickel Project.
The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer.
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