Lake Hope HPA Pre-Feasibility Study and Maiden Ore Reserve

By Finance News On Jun 16, 2025

Impact Minerals Limited (ASX:IPT) is pleased to announce the positive results of a Preliminary Feasibility Study (PFS) for the Company’s Lake Hope High Purity Alumina (HPA) Project, located 500 km southeast of Perth in the Tier 1 mining jurisdiction of Western Australia. The PFS results align with those of the Scoping Study on the project released to the ASX on November 9th 2023.

Very strong economic metrics and low-cost production: NPV10 A$1.165 billion (with no by-product revenue)
Capex A$259 million
Opex US$5,860 per tonne excluding by-product credit
Potential Opex of
Maiden Probable and Proved Ore Reserve of: 1.7 Mt at 26% Al2O3 for 450,000 tonnes of contained Al2O3.
Election to proceed to an 80% interest in Playa One Pty Ltd providing Impact with 80% ownership in the Lake Hope resource and intellectual property.
Definitive Feasibility Study to commence with construction of pilot plant and investigation into the integration of Lake Hope with the HiPurA process.

The PFS highlights the project’s exceptionally strong economics and outlines a pathway for Lake Hope to become a global supplier of low-cost, low-carbon HPA, benefiting both the local Ngadju Aboriginal Native title holders and the broader community. The robust economics stem from the unique characteristics of the Lake Hope deposit, which facilitate cost-effective mining and processing.

The PFS confirms that, to the best of Impact’s knowledge based on published data, the Lake Hope project could be among the lowest-cost producers of HPA globally, potentially by a significant margin of at least 30%.

Given these strong fundamentals, Impact will issue 120 million shares, escrowed for 12 months, to exercise its option to acquire an 80% interest in Playa One Pty Ltd, which owns the Lake Hope assets and intellectual property, including two patents for metallurgical processes (ASX Release March 21st 2023).

Work will now commence on a Definitive Feasibility Study (DFS), which will include the construction of a pilot plant to produce HPA samples at scale for discussions on offtake agreements. The pilot plant project, currently underway, will be part-funded by the recent federal government grant awarded to Impact Minerals in collaboration with CPC Engineering and Edith Cowan University (ASX Release October 22nd 2024).

In addition, as part of these studies, Impact will focus on the potential integration of the Lake Hope ore and its associated metallurgical processes with the assets and intellectual property related to the HiPurA process, which were recently acquired through Impact’s 50% share in Alluminous Pty Ltd (ASX Release April 23rd 2025).

As the acquisition occurred near the end of the PFS, the study only pertains to Lake Hope as a stand-alone project and does not consider integration with HiPurA. Impact believes the HiPurA acquisition will accelerate the Company’s entry into the HPA market by several years, potentially enhancing the economics of the combined projects.

Lake Hope PFS Summary

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