Impact Announces a Maiden Resource for the Lake Hope HPA Project
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| Impact Minerals | ASX: IPT |
| Stage | Exploration |
| Metals | Gold, Silver, PGM’s, zinc, copper |
| Market cap | A$36 m @ 0.0142c |
| Location | Queensland, NSW, Western Australia |
| Website | www.impactminerals.com.au |
Impact Announces a Maiden Measured Resource for the Lake Hope High Purity Alumina(HPA)Project, WA
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•A maiden Measured Resource of 730,000 tonnes at 25.8% alumina (Al2O3) for a
contained189,000 tonnes of alumina has been defined at the Lake Hope HPA Project
in Western Australia.
•The Measured Resource supports the first 15 years or more of proposed HPA
production from Lake Hope. It will underpin a maiden Probable or Proven Reserve,
subject to ongoing mining studies, test work, and economic studies to be completed
as part of the Pre–Feasibility Study on Lake Hope.
•Impact aims to bring Lake Hope into production to deliver low–cost, high–margin end
products to a rapidly expanding global market. Current prices for benchmark 4N HPA
(99.99% Al2O3) and related products are more than US$20,000 per tonne.
•The Pre–Feasibility Study will be completed in Q1 2025 after the final reports from
various contractors and consultants are received, which are expected in December
and January.
•Following an agreement with the Federal government, the first monies from the
recent$2.87 million grant for the CRC–P research and development project with CPC
Engineering and Edith Cowan University to construct a pilot plant for Lake Hope will
be received by the end of November, a few months ahead of schedule. This will
accelerate the construction of the pilot plant.
The larger resource underpins a potentially much longer mine life of at least 25 years, as reported in the Scoping Study on Lake Hope. The study showed that the project had very robust economics, with an after–tax Net Present Value (NPV8) of A$1.3 billion and one of the lowest operating costs per tonne of HPA globally (ASX Release November 9th, 2023).
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Live metal prices can be found HERE
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Disclosure
At the time of writing the author holds shares in Impact Minerals.
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