Impact Minerals' Fundraising Announcement

Impact Minerals Limited (ASX: $IPT) has successfully raised $724,996.20 from the exercise of its listed options IPTOB that expired on June 2nd 2024. This, combined with the recently completed $3 million placement, will strengthen the company's financial position, enabling it to complete the Pre-Feasibility Study on the Lake Hope High Purity Alumina Project and continue exploration of its other projects.

Executive Commentary

Following our recent $3 million placement, which saw substantial participation from major shareholders, we are delighted with the response from our smaller shareholders, over 200 of whom exercised their options in the past month to raise a further $725,000. 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. This extra funding will also allow us to pursue exploration at the Arkun Strategic and Battery Metals 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 as completing the pre-feasibility study on Lake Hope and so shareholders can look forward to strong newsflow in the coming months.

Summary of Impact Minerals' Announcement

Impact Minerals Limited (ASX: $IPT) has successfully raised $724,996.20 from the exercise of its listed options IPTOB, in addition to the recently completed $3 million placement. This additional funding will significantly bolster the company's financial position, ensuring the completion of the Pre-Feasibility Study on the Lake Hope High Purity Alumina Project and the pursuit of exploration activities at the Arkun Strategic and Battery Metals project. Shareholders can anticipate strong newsflow in the coming months as Impact Minerals progresses with its development and exploration endeavors.