Join our daily newsletter At The Bell to receive exclusive market insights
- Impact Minerals (IPT) has entered a trading halt regarding an upcoming capital raise
- The company hasn’t disclosed any details on how much it’s seeking to raise nor how it will spend the money
- Impact does have some exploration plans lined up in the upcoming quarter, including follow-up field work at the Jumbo project as well as at its adjacent Arkun project in WA
- It’s expected Impact Minerals will come out of the trading halt by Friday, March 11 and will reveal the details
- IPT last traded at 1.6 cents on March 8
Impact Minerals (IPT) has entered a trading halt regarding an upcoming capital raise.
No details have been released yet regarding the capital raise, such as how much money will be raised nor how the company will spend the funds once received.
Yesterday, Impact Minerals announced identifying targets from its first-ever soil geochemistry survey at the Jumbo joint venture project which it’s earning an 80 per cent interest in.
The project sits adjacent to impact’s 100 per cent-owned Arkun project in southwest WA.
Of the battery and strategic metal targets, Impact was particularly pleased by the elevated rare earth element and rubidium anomalies due to the recent prices in these markets.
The company said it plans to undertake follow-up activities at Jumbo in the June quarter in conjunction with on-ground work at the Arkun project.
At the end of the December quarter, Impact had $1.5 million in cash and two quarters left of available funding.
The company expects to come out of the trading halt and reveal the capital raise details by Friday, March 11.
IPT last traded at 1.6 cents on March 8.
