Impact Minerals, an Australian minerals explorer currently focusing on high-purity alumina, has established a joint venture agreement with Kuniko, an exploration company, to advance the Commonwealth Project in the Lachlan Province, New South Wales. The arrangement is designed to advance the project through exploration and finally to a point wherein a positive decision to mine is a practical possibility.
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Under the agreement, Impact will receive 3.13 million Kuniko shares following a two-week due diligence period. Half of these shares will be escrowed for six months, the remainder for a year. Kuniko is required to invest USD 1.5 million over the first two years in order to earn a 51 per cent interest. Kuniko will invest an additional USD 1.5 million in the next two years to increase their interest to 70 per cent. Impact’s 30 per cent interest will be on a free-carried basis during this period.
Deal secures free-carried stake while sharpening HPA focus
Managing Director of Impact Mineral, Mike Jones highlighted the dual benefits of the deal, “First, it sees the company retaining a 30 per cent free carried interest to a decision to mine in a project that has significant upside and is the only project in Australia similar to the world-class Eskay Creek Mine in the famed Golden Triangle of British Columbia. “
He further states that, “Secondly, it frees up time and money for the company to continue to increase its focus on the development of the Lake Hope High Purity Alumina (HPA) Project here in Western Australia as well as its investment in Alluminious, owner of the HiPurA technology platform for the production of HPA.”
The Commonwealth Project spans 565 square kilometres, prospective for porphyry copper-gold, epithermal gold and volcanogenic massive sulphide deposits. Impact has already defined an inferred resource of 88,800 oz gold and 3.3 million oz silver. Resources remain open at depth with potential for bulk open-pit mining.
The current course of action is a follow-up to Impact's July 2025 advances at its Lake Hope HPA project and its subsequent investment by Alluminous. With a 33-year mine life expectancy and a cost-effective pathway to 4N HPA production, it positions the company in critical mineral and clean-tech supply chains.
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