Impact Minerals (ASX:IPT) has raised almost $725,000 from the exercise of its listed options, adding to the $3 million the company pocketed last month.
These funds will support the completion of a Pre-Feasibility Study (PFS) currently underway at the Lake Hope High-Purity Alumina Project, as well as continued exploration work across its other projects.
Managing Director Mike Jones says more than 200 smaller shareholders exercised their options in the past month.
“I believe this underscores the collective strength and commitment of Impact’s shareholders and we appreciate the trust and confidence in our vision as we push forward with the development of the Lake Hope High-Purity Alumina Project,” he says.
“This extra funding will also allow us to pursue exploration at the Arkun Strategic and Battery Metal Project, where we were recently awarded $180,000 in co-funding through the Western Australian Government’s Exploration Incentive Scheme for drilling at the Caligula copper prospect.
“We are looking to drill there towards the end of the year at the same time completing the PFS on Lake Hope and so shareholders can look forward to strong newsflow in the coming months.”
As previously reported, the PFS is scheduled to be completed in the fourth quarter of 2024.
Located in Western Australia, the Lake Hope Project is prospective for high-purity alumina.
Impact Minerals is an explorer that holds an extensive portfolio of tenement holdings spanning more than 5,500km2. The company is a diversified explorer focused on high purity alumina, gold, silver, lead, zinc, copper, nickel, and platinum group metals.
Write to Aaliyah Rogan at Mining.com.au
Images: Impact Minerals
