The March 2022 comparative analysis covering 5% of the identified kaolinised mineralisation area reiterated the scale and high-grade potential of InterGroup Mining's (IGM) Brilliant Brumby project in northern Queensland, Australia. This indicated 47Mt of kaolinised granite for 18.2Mt kaolin and built on the January 2022 maiden resource estimate. The envisaged low-cost operations provide potential for co-mining kaolin, silica, and gold. Potential lithium extraction is also to be investigated.

IGM's recent kaolin concept study returned a conservative NPV of $125-163 million and an IRR of 16-20%, with low upfront expenditure of approximately $18 million to de-risk the project over the next 18 months. A subsequent

review suggests that these estimates could increase to a NPV of approximately US$240 million and an IRR of 20%.

IGM plans to complete future exploration across Brumby's wider 20km kaolin corridor while constructing its demonstration metakaolin plant at the deep-sea port of Townsville. This will underpin the feasibility studies to support further grant applications and a potential future stock listing.

Read the full Investor Insight report here