Impact Minerals Issues 146M Shares, Raises $881K, Completes Blackridge Sale
Impact Minerals has raised an additional $881,000 through a rights issue shortfall offer and completed the sale of its Blackridge project, positioning itself for upcoming drilling at Arkun and development of a high purity alumina pilot plant.
- Raised $881,000 via shortfall offer in renounceable rights issue
- Issued over 146 million new shares and 73 million options
- Completed sale of Blackridge project with $350,000 final payment
- Acquired 50% stake in Alluminous Pty Ltd, advancing HPA pilot plant
- Preparing to commence drilling at Arkun project with government grant support
Capital Raise and Share Issuance
Impact Minerals Ltd (ASX: IPT) has successfully raised a further $881,000 before costs through the shortfall offer attached to its renounceable rights issue announced earlier this year. This capital injection involved issuing approximately 146.8 million new fully paid ordinary shares alongside 73.4 million new quoted options exercisable at $0.015 each, expiring in September 2027. The rights issue was underwritten and managed by Mahe Capital Pty Ltd, reflecting strong investor appetite following recent strategic moves.
Asset Sale and Royalty Retention
In addition to the capital raise, Impact Minerals has completed the sale of its wholly owned subsidiary Blackridge Exploration Pty Ltd, which holds the Blackridge gold project in Queensland. The company received the final payment of $350,000, concluding the staged payments for the transaction. Notably, Impact retains a 1% net smelter royalty on any gold production exceeding 5,000 ounces from the project, which remains under development by a private operator. This royalty provides a potential future revenue stream without ongoing operational risk.
Strategic Acquisition Boosts High Purity Alumina Ambitions
Impact’s recent acquisition of a 50% stake in Alluminous Pty Ltd marks a significant step in its diversification and growth strategy. Alluminous owns 100% of HiPurA Pty Ltd, which is developing a high purity alumina (HPA) pilot plant near completion. The plant, expected to produce around 25 tonnes per annum of HPA when operational, is a natural complement to Impact’s Lake Hope HPA project. The acquisition brings valuable intellectual property and near-ready production facilities, with the first employees already onboard and commissioning underway.
Upcoming Drilling at Arkun Project
With its balance sheet strengthened, Impact is poised to commence a drilling program at the Arkun nickel-copper-PGE project in Western Australia. The program will test the Caligula anomaly, a target of significant interest. Part of the drilling costs will be subsidized by a $180,000 grant from the Western Australian government’s Exploration Incentive Scheme, underscoring public sector support for the company’s exploration efforts. This drilling campaign could unlock new resource potential and add value to Impact’s portfolio.
Looking Ahead
Impact Minerals appears well-positioned to advance multiple fronts simultaneously, from exploration drilling to high-tech alumina production, supported by fresh capital and strategic partnerships. The coming months will be critical in translating these developments into tangible results and shareholder value.
Bottom Line?
Impact Minerals’ recent capital raise and strategic moves set the stage for a pivotal phase of exploration and development.
Questions in the middle?
- What timeline and scale of production can be expected from the HiPurA pilot plant?
- How will the retained 1% net smelter royalty impact future cash flows from Blackridge?
- What initial results will the upcoming Arkun drilling program reveal about the Caligula anomaly?
