Impact Lodge Mining Lease for the Lake Hope HPA Project, WA.
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| Impact Minerals | ASX: IPT |
| Stage | Exploration |
| Metals | Gold, Silver, PGM’s, zinc, copper |
| Market cap | A$43 m @ 0.014 c |
| Location | Queensland, NSW, Western Australia |
| Website | www.impactminerals.com.au |
•Mining Lease Application (MLA63/684) lodged over the West Lake resource.
•Miscellaneous Licence(L63/99)lodged to cover mine infrastructure and haulage
road.
•A clear pathway to the grant of the mining leasehas beenestablished with two
main focus areasgoing forward:
oA negotiation protocol for Land Access and Cultural Heritage agreements
with the Ngadju peopleswhichis under review; and
oFurther seasonal flora and fauna surveys.
•Mining studies are underway as part of the Pre–Feasibility Study to provide
mining schedules, proposed equipment, site logistics and costs of mining and transport of ore to Kwinana.
The approvals process, together with the logistics and estimated costs of mining and transporting the Lake Hope mud to the process plant, form one of the four key parts of a Pre–Feasibility Study (PFS) on Lake Hope, which is in progress .
The PFS followed on from a positive Scoping Study,which showed that for a benchmark production of 10,000 tonnes per annum of HPA, theProject has an estimated post–taxNet Present Value (NPV8) of about A$1.3 billion and would potentially be one of the lowest–cost producers of HPA globally (ASX Release November 9th 2023).
All material assumptions underpinning the production target and the forecast financial information derived from it in the Scoping Study continue to apply and have not materially changed within the +/–30% parameters (ASX November 9th,2023).
Impact Minerals’ Managing Director, Dr Mike Jones, said,
“We are very pleased to have lodged Impact’s first–ever mining lease, a major step in our goal to bring the Lake Hope High Purity Alumina project into production...“The application covers West Lakeand sufficient material for at least the first 15 years of our proposed production. It also offers a more direct haulage route to the Norseman–Hyden road than existing tracks, potentially saving millions of dollarsi n road construction costs..
The Application also clearly sets a path towards gaining the statutory approvals required for the grant of the Mining Lease. In particular, this will require engaging in a well–defined negotiation process with the Ngadju Aboriginal people, the traditional custodians of the land around Lake Hope and further seasonal flora and fauna surveys in and around the proposed mine infrastructure..“We will progress on both these critical paths in the next Quarter..“All this work at what will be the Lake Hope Mine is one piece of the large jigsaw puzzle that comprises the Pre–Feasibility Study, and we continue to make progress with the other key pieces: the process plant, test work, product offtake, and marketing..“We are working towards completing the PFS by the end of the year and set ourselves up for significant strides towards production and offtake in 2025.”
To read the full news release please click HERE
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The live gold price 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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