Impact Minerals' (ASX: IPT) managing director Dr Michael Jones recently spoke to investors at a "Stars in 2013 Series" forum, and highlighted company's recent acquisitions - along with the significance of having a 75% shareholding in Invictus Gold (ASX: IVG).
The full presentation can be ACCESSED HERE.
With Impact holding 75% of Invictus, the company is highly leveraged to any exploration success that Invictus may have.
Invictus recently updated its exploration activities, which includes exploration activities at the Himmetdede South Gold Project located 200 kilometres south east of Ankara in the emerging mineral province of Central Anatolia, Turkey.
Invictus has an option to acquire 100% of the Project which is adjacent to the 800,000 oz Himmetdede gold deposit (31 Mt at 0.7 g/t gold) owned by Koza Gold A.S. and which is in development
Five large rock chip samples and four samples of float were collected and submitted for fire assay for gold at Acme Laboratories in Ankara, and all nine samples returned assays greater than 1 g/t, with a maximum assay of 419 g/t gold. A repeat assay of this sample returned 220 g/t gold.
Diamond drilling is currently being conducted, which is designed to test a gold-in-soil geochemical anomaly.
Recently further results were announced for Holes HDS02 and HDS03, including 1 metre at 21g/t gold from 105.4 metres.
Impact's recent investment highlights
BOTSWANA URANIUM PROJECT (100% IPT)
- Discovery of new uranium province: Mahalapye Block.
- Potential for IOCG-U, Athabasca and Rossing type uranium deposits.
- Large uranium and multi-metal alteration system discovered at Red Hills: DRILLING IN Q3 2013.
XADE Ni-Cu-PGE JOINT VENTURE PROJECT (60% IPT, earning 75%)
- Major intrusive gabbro prospective for Cu-Ni sulphides with PGE.
- Similar age and geology to the Duluth Complex (N. America) and Musgrave Province-Albany Fraser (Australia: Nova).
RECENT ACQUISITION OF TWO Ni-Cu-PGE JOINT VENTURE RIGHTS
- Mulga Tank, Western Australia: large nickel sulphide targets (IPT to earn 50%).
- Broken Hill, New South Wales: high grade nickel-copper-PGE massive sulphide targets (IPT to earn 80%).
Analysis
A review of the Impact financials shows that the company has an Enterprise Value of just $2.5 million, with a market cap. of $9 million ($0.026 per share) and cash of around $3 million, plus a stake of over $3.5 million in Invictus ($0.048 per share).
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