Impact Minerals

Impact Minerals Receives Research And Development Refund Of $753,000

Impact Minerals Limited (ASX:IPT) is pleased to announce that it has received a significant Research and Development Refund of $753,000 from its exploration activities completed in the financial year ending June 30th 2022.

This funding brings Impact’s cash balance to more than $4 million following the recent successful capital raising which was strongly supported by the company’s two major German shareholders (ASX Release 1st May 2023).

Impact’s Managing Director, Dr Mike Jones, said, “This R and D rebate significantly bolsters our cash balance and further demonstrates we are very well funded for at least the next 12 months both for the Pre-Feasibility Study at the Lake Hope High Purity Alumina Project as well as continued exploration activities on our Arkun Battery Minerals Project, both located here in Western Australia.

I also anticipate that going forward, a significant proportion of the costs of the Pre-Feasibility Study on the Lake Hope HPA Project will also be eligible for the R and D rebate because of the unique nature of the deposit and the novel metallurgical processing techniques that are being applied. This could significantly lower the cost to Impact of the project development work to be done to move towards production over the next few years and is yet another advantage of the Lake Hope HPA Project”.


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.

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