Update on Lake Hope High Purity Alumina Project

Impact Minerals Limited (ASX: $IPT) is making significant progress on the Pre-Feasibility Study (PFS) for the Lake Hope High Purity Alumina (HPA) project in Western Australia. The PFS, scheduled to be completed by the end of 2024, focuses on the mine, process plant, and product development, marketing, and offtake.

Executive Commentary on Progress

The Managing Director, Dr Mike Jones, expressed satisfaction with the progress, likening the PFS to a jigsaw puzzle where individual pieces are falling into place rapidly. Key achievements include negotiations with the Ngadju peoples, selection of Kwinana for the processing plant, and advancements in product development and marketing. Dr Jones emphasized the strategic advantages and the potential for significant strides towards production in 2025.

Summary of Progress and Outlook

The update highlights the advancements in the PFS for the Lake Hope Project, including negotiations with indigenous communities, progress on the mine, selection of the processing plant location, and developments in product development and marketing. The company aims to complete the PFS by the end of 2024 and anticipates significant progress towards production in 2025. The project's positive Scoping Study and estimated post-tax Net Present Value (NPV) of about A$1.3 billion indicate promising prospects for Impact Minerals' Lake Hope HPA project.