Impact Minerals

Agreement Signed for the Sale of up to a 75% Interest in the Commonwealth Project, NSW

Impact Minerals Limited (ASX:IPT) is pleased to announce that it has now signed a formal share sale and purchase (SPA) agreement for the sale of up to 75% of the company’s 100% Commonwealth project in New South Wales in respect of the previously announced Revised Term Sheet (ASX Release August 16th 2023).


Impact Minerals’ Managing Director, Dr Mike Jones, said, “Impact’s modus operandi has always been to hold large ground holdings in very prospective parts of Australia, and we have significant projects at Commonwealth in the prolific Lachlan copper-gold district, Broken Hill where we almost surround the giant Broken Hill mine and Arkun in the emerging mineral province of southwest Western Australia. However, as we continue to successfully progress through the Pre-Feasibility Study on our Lake Hope High Purity Alumina Project in Western Australia it is only appropriate that we look to maximise the value of our other projects for shareholders.

This Share Sale Agreement with Burrendong Minerals, who successfully raised seed capital to fund an IPO, will allow Impact to retain a large percentage of the Commonwealth Project which lies immediately along strike from the recent Boda-Kaiser porphyry copper-gold discovery of Alkane Resources, and to be a shareholder in a company that has three resources under its belt at Commonwealth Mine, Silica Hill and Galwadgere.

We look forward to supporting Burrendong as they progress towards an IPO and given Impact’s shareholders have a priority entitlement to apply for shares, shareholders are welcome to register their interest against this announcement on our Investor Hub linked below.

We are also fielding interest from a number of parties for our Broken Hill project and will look to undertake first pass drilling at Arkun for Rare Earth Elements, copper and nickel in the next Quarter”.

https://investors.impactminerals.com.au/auth/signup

The share sale and purchase agreement was a key term in Impact’s binding agreement for the sale of up to a 75% interest in the Company's 100% owned Commonwealth Project (by way of a wholly-owned subsidiary) to Burrendong Minerals Ltd, an unrelated public company.


Click here for the full ASX Release

This article includes content from Impact Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

IPT:AU
The Conversation (0)
Impact Minerals (ASX:IPT)

Impact Minerals Limited

Developing the lowest-cost HPA project in Australia

Developing the lowest-cost HPA project in Australia Keep Reading...
Successful Completion of the Renounceable Rights Issue

Successful Completion of the Renounceable Rights Issue

Impact Minerals Limited (IPT:AU) has announced Successful Completion of the Renounceable Rights IssueDownload the PDF here. Keep Reading...
Renounceable Rights Issue Closing Date

Renounceable Rights Issue Closing Date

Impact Minerals Limited (IPT:AU) has announced Renounceable Rights Issue Closing DateDownload the PDF here. Keep Reading...
Major drill targets identified at the Caligula Prospect

Major drill targets identified at the Caligula Prospect

Impact Minerals Limited (IPT:AU) has announced Major drill targets identified at the Caligula ProspectDownload the PDF here. Keep Reading...
NFM: Sale of Broken Hill East Project to Impact Minerals

NFM: Sale of Broken Hill East Project to Impact Minerals

Impact Minerals Limited (IPT:AU) has announced NFM: Sale of Broken Hill East Project to Impact MineralsDownload the PDF here. Keep Reading...
Update on the Renounceable Rights Issue to raise $5.2M

Update on the Renounceable Rights Issue to raise $5.2M

Impact Minerals Limited (IPT:AU) has announced Update on the Renounceable Rights Issue to raise $5.2MDownload the PDF here. Keep Reading...
Gold bars and financial graphs. Text reads: "Weekly Editor's Picks."

Editor's Picks: Gold, Silver Face Bumpy Week as Prices Drop, Then Rebound

It was a bumpy week for the gold price, which dropped to the US$4,370 per ounce level midway through the period before rebounding back above US$4,500.Silver put on a similar performance, bottoming out at US$72 per ounce.Both precious metals were reacting to a complex array of dynamics, including... Keep Reading...
A gold Krugerrand coin sits atop a pile of silver coins with musical instrument engravings.

Precious Metals News: Gold, Silver and PGM Price Floors Hold Up Against Headwinds

The precious metals complex is proving resilient in the face of intensifying macroeconomic headwinds and ongoing uncertainty over the direction of the conflict in the Middle East. Prices for gold, silver, platinum and palladium fell below key psychological levels this week on the back of hawkish... Keep Reading...
Gold coins featuring a buffalo design stacked on a dark wooden surface.

Stephen Leeb: Gold Price to US$18,000? Here's How it Can Happen

Dr. Stephen Leeb of Leeb Capital Management shares his outlook for gold, explaining how the yellow metal could get to US$18,000 per ounce. "Gold's high point might not ever really be defined, because I think at the end of this period that we're in, you're going to find gold at the center of the... Keep Reading...
Brightstar Declares Final Investment Decision for Goldfields Project

Brightstar Declares Final Investment Decision for Goldfields Project

CONSTRUCTION OF 1.5MTPA LAVERTON PLANT COMMENCES – FIRST GOLD ON TRACK JUNQ’27

Brightstar Resources Limited (ASX: BTR) (Brightstar or the Company) is pleased to announce that its Board of Directors has approved the Final Investment Decision (FID) for the development of its 100% owned Goldfields Project in Western Australia. HIGHLIGHTSBoard approves Final Investment... Keep Reading...
Rick Rule, mine site.

Rick Rule: Gold, Silver, Oil, Uranium — Price Triggers, My Strategy Now

Rick Rule, proprietor at Rule Investment Media, outlines key factors affecting the resource sector today, highlighting the impact of the Iran war. He also explains what he's doing with his money right now, saying his portfolio is currently underweight when it comes to sub-$250 million market cap... Keep Reading...

Interactive Chart

Latest Press Releases

Related News