Economic Rules Hub
  • World
  • Politics
  • Business
  • Investing
Home Investing Agreement Signed for the Sale of up to a 75% Interest in the Commonwealth Project, NSW
Investing

Agreement Signed for the Sale of up to a 75% Interest in the Commonwealth Project, NSW

by admin March 20, 2024
March 20, 2024

Impact Minerals Limited (ASX:IPT) is pleased to announce that it has now signed a formal share sale and purchase (SPA) agreement for the sale of up to 75% of the company’s 100% Commonwealth project in New South Wales in respect of the previously announced Revised Term Sheet (ASX Release August 16th 2023).

Impact Minerals’ Managing Director, Dr Mike Jones, said, “Impact’s modus operandi has always been to hold large ground holdings in very prospective parts of Australia, and we have significant projects at Commonwealth in the prolific Lachlan copper-gold district, Broken Hill where we almost surround the giant Broken Hill mine and Arkun in the emerging mineral province of southwest Western Australia. However, as we continue to successfully progress through the Pre-Feasibility Study on our Lake Hope High Purity Alumina Project in Western Australia it is only appropriate that we look to maximise the value of our other projects for shareholders.

This Share Sale Agreement with Burrendong Minerals, who successfully raised seed capital to fund an IPO, will allow Impact to retain a large percentage of the Commonwealth Project which lies immediately along strike from the recent Boda-Kaiser porphyry copper-gold discovery of Alkane Resources, and to be a shareholder in a company that has three resources under its belt at Commonwealth Mine, Silica Hill and Galwadgere.

We look forward to supporting Burrendong as they progress towards an IPO and given Impact’s shareholders have a priority entitlement to apply for shares, shareholders are welcome to register their interest against this announcement on our Investor Hub linked below.

We are also fielding interest from a number of parties for our Broken Hill project and will look to undertake first pass drilling at Arkun for Rare Earth Elements, copper and nickel in the next Quarter”.

https://investors.impactminerals.com.au/auth/signup

The share sale and purchase agreement was a key term in Impact’s binding agreement for the sale of up to a 75% interest in the Company’s 100% owned Commonwealth Project (by way of a wholly-owned subsidiary) to Burrendong Minerals Ltd, an unrelated public company.

Click here for the full ASX Release

This post appeared first on investingnews.com

0
FacebookTwitterPinterestEmail
previous post
Battery Ready Vanadium Electrolyte Produced
next post
Bangemall Ground EM Surveys Outline Multiple Norilsk-Style Drill Targets

Related Posts

Juggernaut Exploration: Advancing High-grade Precious Metals Assets in Northern BC’s...

June 12, 2025

Noble Mineral highlights Mann West Nickel Sulphide Initial Resource as...

June 12, 2025

New INNspired Article Spotlights Rare Earth Recycling as a Strategic...

June 12, 2025

FireFly Metals to Add AU$95 Million to Coffers With Equity...

June 12, 2025

Nuclear Recharge: Eclipse and Oklo Pen Deals Amid Global Clean...

June 12, 2025

Peter Krauth: Silver Price Running, Stocks Exploding — What’s Next?

June 12, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Trump tells Netanyahu to end Gaza war and stop Iran threats, source says, as US ramps up pressure on Israel

      June 12, 2025
    • Children swept away in school bus among at least 49 killed in South Africa flooding

      June 12, 2025
    • Israel recovers bodies of two dead hostagesfrom Gaza in military operation

      June 12, 2025
    • Gaza Humanitarian Foundation says Hamas attack has killed multiple aid workers

      June 12, 2025
    • Trump administration reviewing Biden-era submarine pact with Australia, UK

      June 12, 2025

    Categories

    • Business (1,401)
    • Investing (3,435)
    • Politics (4,594)
    • World (4,506)
    • Email Whitelisting
    • Terms and Conditions
    • Privacy Policy
    • Contacts
    • About us

    Disclaimer: EconomicRulesHub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 EconomicRulesHub.com | All Rights Reserved

    Economic Rules Hub
    • World
    • Politics
    • Business
    • Investing