• Strategic A$4 million placement to be issued under the Company's existing available placement capacity under ASX Listing Rule 7.1 and 7.1A.
• Funds from the equity raising to support ongoing High Purity Alumina (HPA) ventures at the Lake Hope Project in WA and via the company’s investment in Alluminous Pty Ltd.
• Acceleration of copper exploration at Broken Hill.
Impact Minerals Limited (ASX:IPT) (Company) is pleased to advise that it has received firm commitments from sophisticated investors for a heavily oversubscribed strategic placement (Placement) to raise A$4,000,000 (before costs) via the issue of 615,384,616 fully paid ordinary shares (Placement Shares) in the capital of the Company (Shares) at an issue price of A$0.0065 per Placement Share. Subject to shareholder approval, for every Placement Shares subscribed for, one free-attaching IPTOC Quoted Option will be issued with an exercise price of $0.015 per option and an expiry date 28 September 2027 (Placement Options).
Major shareholders strongly supported the placement, an endorsement of the Company's future strategic plans.
Impact Minerals’ Managing Director Dr Mike Jones, said, “We are very pleased to announce this capital raising which was heavily oversubscribed having received significant support from several of our major shareholders. We are now very well-funded to accelerate our journey towards HPA production from our Lake Hope project, which includes some exciting research into membrane technology through our CRC-P Grant, and also how it may integrate with the HiPurA HPA process via our recent investment in Alluminous Pty Ltd. We also intend to contribute further working capital to Alluminous Pty Ltd to maintain our 50% shareholding. This follows recent significant progress in commissioning of the HPA pilot plant in Perth and the appointment of Mr Tim Netscher as Chairman.
We are also looking forward to receiving the results of a magneto-telluric survey from Broken Hill following up on copper targets identified during Impact’s participation in the inaugural BHP Xplor program in 2023. We are confident of identifying some compelling large scale targets for follow up work including drilling which we will also fund from this placement.
I would like to thank all of the shareholders who participated and we look forward to delivering strong newsflow over the coming months”
To read the announcement, please click here
About us:
About Impact Minerals
Driven by a commitment to excellence and a vision to harness Australia's mineral wealth, Impact Minerals Limited is establishing itself as a key player in the HPA industry. Through careful project selection, rigorous evaluation, and profitability focus, the company aims to create lasting value for shareholders while contributing to the sustainable growth of the mining sector.
Contact details:
Dr Michael Jones
Managing Director
Phone: +61 (8) 6454 6666
Email: [email protected]
Website: impactminerals.com.au