Impact Minerals (ASX:IPT) has raised a further $881,000 under the shortfall offer contained in the renounceable rights issue announced on 28 February 2025.
The emerging high-purity alumina (HPA) producer has now issued and allotted just over 146.833 million new shares and 73.417 million new IPTOC quoted options exercisable at $0.015, with an expiry date of 28 September 2027.
A further 8,810 million options will be issued to lead manager and underwriter Mahe Capital as described in the rights issue prospectus.
In addition, the company has also received a final payment of $350,000 to complete the sale of its 100% owned subsidiary Blackridge Exploration, which holds the Blackridge project in Queensland.
Impact retains a 1% net smelter royalty for any gold production over 5,000 ounces from the project, which is being developed for alluvial gold production and comprises one granted mining lease and three exploration licences.
As a result of this, Managing Director Dr Mike Jones says Impact is now well-funded to also start a planned drill program in the coming weeks at the Arkun project, where the company will test the Caligula nickel-copper-PGE anomaly.
Jones says the company received strong interest from strategic investors in the shortfall from its recent rights issue following the announcement of the acquisition of a 50% shareholding in Alluminous.
“Alluminous owns 100% of HiPurA, which has assets and IP that are a natural bolt-on to our Lake Hope High Purity Alumina (HPA) project. These include a pilot plant, that is about 90% complete and which is slated to produce about 25 tonnes per annum of HPA when fully operational,” he adds.
“Alluminous recently took possession of the facilities containing the plant, and the first employees started last week. It is an exciting time for our HPA endeavours.
“In addition, we finalised the sale of our Blackridge project in Queensland following receipt of staged payments for the final payment of $350,000.”
Mining.com.au Executive Producer Shae Russell spoke to Jones on the floor at the RIU Sydney Resources Round-Up. This news service was an official media partner at this year’s event.
Write to Adam Orlando at Mining.com.au
Images: Impact Minerals
