Mining Lease Lodged for the Lake Hope High Purity Alumina Project, WA.

Impact Minerals Limited’s (ASX:IPT) is pleased to announce that it has 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.

• Mining Lease Application (MLA 63/684) lodged over the West Lake resource.
• Miscellaneous Licence (L63/99) lodged to cover mine infrastructure and haulage road.
• A clear pathway to the grant of the mining lease has been established with two main focus areas going forward:
• oA negotiation protocol for Land Access and Cultural Heritage agreements with the Ngadju peoples which is under review; and
• oFurther seasonal flora and fauna surveys.
• Mining studies are underway as part of the Pre-Feasibility Study to provide mining schedules, proposed equipment, site logistics and costs of mining and transport of ore to Kwinana.

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 21^st 2023 and July 10^th 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).

All material assumptions underpinning the production target and the forecast financial information derived from it in the Scoping Study continue to apply and have not materially changed within the +/-30% parameters (ASX November 9th, 2023).

Click here for the full ASX Release

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