Exploration company Impact Minerals has set its sights on completing the prefeasibility study (PFS) for its high-purity alumina (HPA) endeavour, Lake Hope, by year’s end, said MD Mike Jones on Friday.
Bolstered by a strategic raising of A$4-million, with the issuance of 150-million shares at A$0.02 each, the company is on a decisive course forward.
Impact also offered one free-attaching option for every three placement shares subscribed, valued at A$0.027 per option.
“We have deliberately placed most of the shares to our major shareholders which is a strong endorsement of our plan to move forward as quickly as possible with Lake Hope and we thank them for their support,” remarked Jones.
Further, in addition to the Lake Hope project, Impact will also be able to progress the Arkun battery and strategic metals project, for which it recently received up to A$180 000 in cofunding from the Western Australian government’s Exploration Incentive Scheme to drill the Caligula copper target.
Nestled between Western Australia’s Goldfields and Wheatbelt regions, Lake Hope will produce 99.99% 4N HPA, a technology sector material that is on Australia’s critical minerals list.