Impact Minerals

Placement To Raise $4 Million And Exercise Of The Lake Hope Option

Impact Minerals Limited (ASX:IPT) (Company) is pleased to announce that it has received firm commitments to raise $4,000,000 via a placement (Placement) of 333,333,333 shares (Placement Shares) at 1.2 cents per share, a 5% premium to the 15 day VWAP, and giving the Company a cash balance of approximately $5 million.


  • $4 million raised via a Placement at 1.2 cents to professional and sophisticated investors, including $3 million from Impact’s largest shareholder, a German Family Office.
  • Funds will be used primarily to accelerate the Pre-Feasibility Study (PFS) and Mining Lease Application at the Lake Hope Project, an advanced High Purity Alumina (HPA) project located near Hyden in the Tier One jurisdiction of Western Australia.
  • Impact has also exercised its option to proceed with the farm-in to earn an 80% interest in the Lake Hope Project by completing the PFS.
  • Early-stage exploration to continue on the Arkun battery metals project in Western Australia.
Impact’s two largest shareholders, the Bunnenberg Family Office and ABC Beteiligungen, a subsidiary of Deutsche Balaton AG, an investment company listed on the Frankfurt Stock Exchange, have contributed $3.25 million to the placement.

Impact Minerals would like to thank Ignite Equity, who assisted with the balance of the capital raising being $750,000. Ignite Equity is a Melbourne-based boutique Corporate Advisor specialising in cornerstone and lead-managed placements.

The funds will be used to accelerate the development of the advanced Lake Hope High Purity Alumina (HPA) project located 500 km southeast of Perth in the Tier 1 jurisdiction of Western Australia. Impact recently announced it had the option to acquire an 80% interest in Lake Hope by completing a Pre- Feasibility Study on the project, and the Company has also now exercised that option following the completion of due diligence (ASX Releases March 21st 2023 and April 6th 2023).

Impact Minerals’ Managing Director, Dr Mike Jones, said, “We are extremely pleased with the backing of our major investors which is a resounding vote of confidence in our decision to enter the HPA market by developing the advanced Lake Hope Project in Western Australia. Since announcing the acquisition, our work has confirmed the project's significant potential, and we have now exercised the option to earn an 80% interest by completing a Pre-Feasibility Study. With the new funds, we can now accelerate this study and also produce final products that can be provided to potential customers for qualification testing. We have already made considerable strides in advancing the project, with just the final set of assays for the recently completed infill drilling left to complete our maiden resource estimate by the end of this Quarter. We then intend to submit a Mining Lease application in the next Quarter in tandem with the feasibility studies. We are forging ahead at full speed, and these funds will allow us to maintain our momentum”.


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)
Pilbara region, Western Australia, Australia.

Pilbara 2.0: Inside Australia’s Newest Gold Frontier

The Central Pilbara region of Western Australia is undergoing a quiet revolution that is rapidly reshaping the global gold exploration landscape.

Once dismissed as a technically challenging and geologically inconsistent terrain, Pilbara is now emerging as one of the world’s most exciting new gold frontiers and drawing serious attention from institutional investors, driven by transformative discoveries, a maturing geological model and a wave of junior explorers tapping into underexplored intrusive-hosted systems.

Anchored by the multimillion-ounce Hemi discovery — one of the most significant gold finds in Australia in over a decade — this region is not just proving its geological potential, but also demonstrating the kind of scale, consistency and margin profile that modern gold investors seek. As the discovery window remains wide open and valuations are still accessible, the Central Pilbara presents a rare opportunity for early exposure to what may become one of Australia’s next tier-one gold districts.

Keep reading...Show less
A mining truck within the outline of Australia's map on a clear day.

Is Australia on the Brink of a New Mining Super Cycle?

Mining remains as a cornerstone of Australia’s GDP and export earnings, but current global challenges such as trade disputes and price changes may be straining its foundations.

A recent FocusEconomics report tackled Australia’s resource wealth, tracing from the gold rushes of the 1850s to the iron ore and coal booms of the 21st century.

Keep reading...Show less
Kobo Resources Confirms Additional High-Grade Gold Mineralization at Kossou with 15.5 m at 2.3 g/t Au, incl. 8.3 m at 3.43 g/t Au; Outlines Next Phase of Exploration at Kossou

Kobo Resources Confirms Additional High-Grade Gold Mineralization at Kossou with 15.5 m at 2.3 g/t Au, incl. 8.3 m at 3.43 g/t Au; Outlines Next Phase of Exploration at Kossou

 
  •   High-grade gold intercepts highlighted by 15.5 m at 2.30 g/t Au, incl. 8.3 m at 3.43 g/t Au at the Road Cut Zone  
  •  
  •   Initial drilling on the gap between Jagger and Road Cut Zone confirms target structure, warrants further testing  
  •  
  •   Current drill phase complete; Geological modelling and planning underway for 15,000 m drill program expected to begin in H2 2025  
  •  

 

 Kobo Resources Inc. (" Kobo" or the " Company ") ( TSX.V: KRI ) is pleased to report additional diamond drill results from the Road Cut Zone at its 100%-owned Kossou Gold Project (" Kossou ") in Côte d'Ivoire. Results from these holes continue to strengthen the Company's understanding of the key structural controls that define this prospective target area.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Maritime Resources (TSXV:MAE)

Maritime Resources

Keep reading...Show less

Latest Press Releases

Related News

×