Impact Minerals (ASX: IPT) is pleased to announce that it has received a rebate of $512,000 before
costs from the Research and Development Tax Incentive scheme for the financial year ending June 2024.
Announcement Highlights
These funds will be used to continue the Pre-Feasibility Study on Impact’s flagship Lake Hope High Purity Alumina (HPA) Project, which is scheduled for completion in Q1 2025.
They will also contribute to the accelerated start of the recently announced research and development project in conjunction with CPC Engineering and Edith Cowan University to help build a pilot plant for the Lake Hope Project.
The project will also be funded by the recently announced grant of $2.87 million under the Federal Government’s CRC-P programme (ASX Releases October 22nd, 2024, and November 18th, 2024).
Impact Minerals' Managing Director Mike Jones commented:
“The unique mineralogy and patented and proprietary processing techniques for the Lake Hope High Purity Alumina project have allowed us to claim back a significant proportion of our expenditures on it through the R and D Tax Incentive programme and this will be the case moving forwards. The funds will be put towards the Lake Hope Pre-Feasibility Study and the start of our exciting research project with CPC Engineering and Edith Cowan University to build a pilot plant to produce HPA from the clays at Lake Hope. The end result will likely be one of the most cost effective feasibility studies in the industry”.
Congratulations to Dr Mike Jones, the board and the team at Impact Minerals for reaching this milestone.
Read the full Impact Minerals Company Update here.
To learn more about Impact Minerals and stay up to date with investor information, subscribe to the Company's Chairman’s List.
