Impact Minerals (IPT) H2 2024 earnings summary

Executive summary

• Achieved major milestones at the Lake Hope High Purity Alumina (HPA) Project, including completion of a Scoping Study and advancement of a Preliminary Feasibility Study (PFS), targeting low-cost, high-margin HPA production for battery and LED sectors.

• Expanded exploration at Arkun-Beau-Jumbo, identifying multiple targets for nickel, copper, platinum group metals, and rare earth elements, with drilling programs planned and government co-funding secured.

• Entered a joint venture for the Commonwealth Project, retaining a 49% interest and accelerating exploration through a partner's planned ASX listing.

Financial highlights

• Reported a consolidated net loss of $6,752,567 for FY2024, compared to a $5,782,028 loss in FY2023.

• Revenue from operating activities was $115,899, with additional other income of $444,794.

• Cash and cash equivalents at year-end were $3,422,215, down from $4,688,824 the previous year.

• Net assets totaled $14,984,501 at 30 June 2024, compared to $17,417,108 at 30 June 2023.

• Raised $3,000,000 via a share placement in May 2024 to fund Lake Hope development.

Outlook and guidance

• PFS for Lake Hope scheduled for completion in FY2025, with focus on metallurgical test work and batch production from optimized flow sheets.

• Drilling at the Caligula copper prospect at Arkun planned for early 2025, supported by a $180,000 government grant.

• Ongoing negotiations and surveys with Ngadju people for mining lease approval at Lake Hope.