Impact Minerals

September 2024 Quarterly Report

Impact Minerals Limited (ASX:IPT) is pleased to present its Quarterly Report.


HIGHLIGHTS

1. Lake Hope High Purity Alumina (HPA) Project, WA (IPT earning 80%)

  • The Mine at Lake Hope:
    • A negotiation protocol for Land Access and Cultural Heritage agreements with the Ngadju peoples reviewed and signed.
    • Applications for a Mining Lease and associated Miscellaneous licence lodged.
    • Infill drilling to define a maiden Measured Resource and Proven Reserve completed with resource calculations and economic studies in progress.
    • Mining studies underway to provide mining schedules, proposed equipment, site logistics and costs of mining and transport of ore to Kwinana.
    • Further flora fauna and heritage surveys are being planned for the mine haul road.
  • The Process Plant:
    • Kwinana selected as the location for process plant to produce a benchmark 10,000 tonnes per annum of HPA due to access to providers of the required input chemical reagents, buyers of the fertiliser and acid by-products and access to suitable land. Combined, these provide substantial strategic advantages for the project with savings on capex and opex.
    • The Low-Temperature Leach process selected as the most straightforward processing method to produce HPA at scale.
    • CPC Engineering selected to provide a design and engineering study for the full-scale plant that is underway.
  • Product development, offtake and marketing
    • Further test work on HPA and fertiliser by-products continues.
    • Experimental work has produced a hydrated alumina product that may have major applications in the catalyst and flame retardant industries.
    • Early-stage discussions are underway for potential synergies with existing alumina businesses in Europe and the USA.
    • A marketing and product development team is being assembled.

2. Arkun-Beau, WA (IPT 100%)

  • No major no activity occurred this quarter, though efforts remain on track to resume exploration after the cropping season ends in the wheatbelt in December.
  • 413 soil samples were re-assayed to refine drill targets at Beau and Caligula prospects
  • Land access agreements and statutory approvals are being finalised ahead of planned drill programme in Q1 2025
  • Previous geochemical and MME survey data at Caligula support the project potential, with $180,000
  • co funding awarded under the WA Government’ EIS scheme for drilling.

3. Corporate/Finance

  • A FY23 Research and Development Rebate of $395,000 was received during the Quarter.

PROJECT REPORTS

1. LAKE HOPE HIGH PURITY ALUMINA PROJECT, WA (IPT earning 80%)

Figure 1. Location of the Lake Hope Project and proposed haul route to Kwinana.

During the Quarter Impact Minerals announced that it had lodged a Mining Lease Application (MLA63/684) and associated Miscellaneous Licence (L63/99) for the Lake Hope High Purity Alumina (HPA) Project located 500 km east of Perth in Western Australia, (Figures 1 and 2). This is a crucial step in advancing the project towards production as it defines the work required to obtain the statutory approvals needed for the grant of the Mining Lease.

The approvals process, together with the logistics and estimated costs of mining and transporting the Lake Hope mud to the process plant, form one of the four key parts of a Pre-Feasibility Study (PFS) on Lake Hope, which is in progress (Figure 3 and ASX Release July 10th, 2024). Impact can take an 80% interest in Playa One Pty Limited, which owns the Lake Hope Project and associated intellectual property, by completing the PFS (ASX Releases March 21st 2023 and July 10th 2024).

The PFS followed on from a positive Scoping Study, which showed that for a benchmark production of 10,000 tonnes per annum of HPA, the Project has an estimated post-tax Net Present Value (NPV8) of about A$1.3 billion and would potentially be one of the lowest-cost producers of HPA globally (ASX Release November 9th 2023).


Click here for the Quarterly Cashflow Report

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
Impact Minerals Limited

Impact Minerals Limited Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

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

Impact Minerals Limited


Keep reading...Show less

Developing the lowest-cost HPA project in Australia

Forte Minerals CEO, President and Director Patrick Elliot.

Forte Minerals CEO Talks Strategic Growth, Drilling Plans for Peru Projects

Patrick Elliott, CEO of Forte Minerals (CSE:CUAU), shares insights on the company’s strategic growth, upcoming drilling plans and how it is positioned to capitalize on rising global copper demand.

Cygnus Metals President and Managing Director Ernest Mast.

Cygnus Metals Talks Copper Advantage with High-grade Discoveries and Strategic Québec Expansion

Ernest Mast, president and managing director of Cygnus Metals (TSXV:CYG), discusses the Chibougamau project's significant drill results and how the company's recently completed merger with Dore Copper has enhanced its lithium strategy in Québec.

Impact Minerals Managing Director Dr. Mike Jones.

Impact Minerals Advances Lake Hope HPA Project with $5 Million Rights Issue and Strategic Expansion

Impact Minerals (ASX:IPT) Managing Director Mike Jones shares key updates on the company’s renounceable rights issue, the progress of its Lake Hope high-purity alumina project in Western Australia and a strategic land acquisition at Broken Hill.

Cobre Limited Logo

Cobre Secures $25M BHP Investment for Botswana Copper Exploration

Australian mining company Cobre (ASX:CBE) has secured a major investment from BHP, which has agreed to spend $25 million on exploration at Cobre’s Kitlanya projects in Botswana, in exchange for the right to acquire a 75 percent stake, according to a news report from Reuters.

Keep reading...Show less
Copper wire.

BHP to Invest Up to AU$40 Million in Cobre’s Kitlanya East and West Copper Projects

Mining giant BHP (ASX:BHP,NYSE:BHP,LSE:BHP) is providing up to AU$40 million for exploration work atCobre’s (ASX:CBE) Kitlanya East and West copper projects in Botswana, Cobre said on Monday (March 10).

The funding is under an earn-in agreement between Cobre, other Cobre-owned subsidiaries and a wholly owned subsidiary of BHP. It gives BHP the right to acquire a 75 percent interest in the Kitlanya assets.

The agreement comes after Cobre’s participation in BHP’s Xplor program in 2024. Through Xplor, Cobre received US$500,000 to accelerate its exploration plans for its Kalahari copper projects in Africa.

Keep reading...Show less
Excavators at mine site.

Gold vs. Copper: Which Metal Will Shine Brighter in 2025?

At the 2025 Prospectors & Developers Association of Canada (PDAC) convention, the panel “Copper vs. Gold: Which Metal Will Outperform?” tackled the question of which metal holds greater investment potential.

Moderated by Gracelin Baskaran, director of the Critical Minerals Security program at the Center for Strategic and International Studies, the discussion brought together industry experts to weigh the risks and rewards of both commodities.

Last year, gold and copper crossed key price milestones, with gold surging past US$2,700 per ounce and copper exceeding US$5 per pound. While gold is primarily seen as a financial safe haven in times of geopolitical uncertainty, copper is an essential industrial metal, increasingly central to resource nationalism and critical mineral security.

Keep reading...Show less
Impact Minerals Limited

Impact Minerals Limited Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×