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)
Jeff Clark, gold and silver bars.

Jeff Clark: Gold Bull Market Running, These Stocks Getting Rewarded Now

Jeff Clark, founder of the Gold Advisor, shares his outlook for gold and silver.

However, he emphasizes that he's less concerned about prices and more interested in making sure his portfolio is prepared to weather global uncertainty.

Keep reading...Show less
Magnifying glass over a stack of US $100 bills.

OPINION — Goldenomics 101: Follow the Money

This opinion piece was submitted to the Investing News Network (INN) by Darren Brady Nelson, who is an external contributor. INN believes it may be of interest to readers and has copy edited the material to ensure adherence to the company’s style guide; however, INN does not guarantee the accuracy or thoroughness of the information reported by external contributors. The opinions expressed by external contributors do not reflect the opinions of INN and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Keep reading...Show less
Miramar Resources

High-Grade Gold Discovery in First 8 Mile Drill Hole

Miramar Resources Limited (ASX:M2R, “Miramar” or “the Company”) is pleased to announce that the first RC drill hole at the 8 Mile target has intersected high-grade gold and ended in mineralisation.

Keep reading...Show less
Rob McEwen, gold bars.

Rob McEwen: Gold to Go "Much Higher," Mining Stock Mania Not Here Yet

Rob McEwen, chairman and chief owner of McEwen Inc. (TSX:MUX,NYSE:MUX), outlines his gold price outlook as well as future plans for his company.

"If I look at history and the cycles gold has gone through, we have all the ingredients needed to drive it much higher," he told the Investing News Network.

Keep reading...Show less

Latest Press Releases

Related News

×