InterGroup shapes up for ASX listing

Net-zero focused private company InterGroup Mining is heading for an ASX listing late this year as it progresses plans to set up a demonstration metakaolin production plant close to the Townsville port. InterGroup is developing the Brumby kaolin and gold project north of Pentland in North Queensland. It entered into an offtake agreement with Traxys last quarter covering the marketing and distribution of kaolin and metakaolin product from the project. The Queensland company this week announced the 'significant strengthening' of its balance sheet following successful completion of a recent rights issue, although the value was not disclosed. “The participation of long-standing shareholders is an excellent vote of confidence in the company’s strategy," chairman Neil Miller said. "The reduction of debt on our balance sheet means we are now well positioned in relation to our targeted ASX listing - our advisors continuing to work towards a Q4 admission.” InterGroup's strategy for Brumby is based on generating first revenues through kaolin and metakaolin production from the estimated 0.5-1 billion tonnes of weathered kaolinite, grading approximately 40 per cent kaolin, that sits at surface to 30m. In certain areas the kaolinite sits above and adjacent to the gold bearing quartz veins that run across the property. The company has been assessing the potential for kaolin extraction from the site to produce metakaolin suitable as a supplement in making cement and concrete. The company said metakaolin was gaining increasing attention globally for the significant role it can potentially play in decarbonising the cement and concrete industry. InterGroup also reported that metakaolin was gaining traction within Australia as an alternative lower cost feedstock for the production of High Purity Alumina (HPA). Townsville has been earmarked as the base for the metakaolin production facilities InterGroup proposes. InterGroup intends to take advantage of the regional weather to incorporate high-efficiency solar photovoltaic (“PV”) power generation to further improve the low-carbon credentials and reduce the production cost of its metakaolin products. A company spokesman said the recent focus had been on technical and commercial considerations relating to the potential physical configuration of the facility. "Possible locations have also been visited," he said. As part of the metakaolin production plan, the in-situ kaolinite, which comprises approximately 40 per centkaolin and 40 per cent silica, will go through a dry screening process to the remove the coarse silica fraction. InterGroup said initial analysis of this silica co-product suggested it would be suitable for construction and process applications.

InterGroup shapes up for ASX listing

Industry Queensland

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