Impact Minerals Limited (ASX:IPT) substantial shareholder, German-based ABC Beteiligungen AG, has increased its stake in the Australian explorer to 14.4% through a series of on-market share purchases.
Deutsche Balaton Aktiengesellschaft, a holding company of ABC Beteiligungen, has acquired shares worth around $1.868 million in on-market trades in July and August.
German company holds more than 190 million shares
The Heidelberg-based company, along with its related entities, now hold more than 190 million shares and has lifted its interest from 13.31%.
Managing director Mike Jones said, “This is a strong sign of support from our German shareholder ABC Beteiligungen AG and the investments allow us to continue our exploration programs.”
ABC Beteiligungen also holds investments in other ASX-listed companies.
Impact recently announced that it is purchasing a fully granted mining lease entirely within its Blackridge conglomerate-hosted gold project in central Queensland.
The new fully granted lease covers about 500 metres of the gold-bearing unconformity at Blackridge.
It is subject only to Ministerial consent and this is expected within about six weeks.
Impact’s flagship project is Commonwealth, north of Orange in New South Wales, and it also has tenements near Broken Hill in the state’s far west.
The company is also exploring for gold and nickel-copper-cobalt at the Mulga Tank project in Western Australia.