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Impact Minerals' major shareholder enhances position ahead of conglomerate gold hunt

Impact's Pilbara Gold Project covers 1300 square kilometres.
Impact Minerals' major shareholder enhances position ahead of conglomerate gold hunt
Impact's shares are 21% higher today at $0.034

Impact Minerals Ltd's (ASX:IPT) major shareholder, the German based ABC Beteiligungen AG, has increased its stake in the company to 12% following a placement of 37.5 million shares at $0.023.

The placement will boost Impact's bank balance by another $862,500.

Dr Mike Jones, managing director, commented:

"This is a strong sign of support from our German shareholder ABC Beteiligungen AG and these new funds will allow us to continue our exploration programs with increasing vigour."

Funds will be primarily used to explore the new Pilbara Conglomerate Gold Project and the ongoing drill program and resource work at the Commonwealth gold-silver-base metals project in New South Wales.

READ NOW: Impact’s Dr Mike Jones details technical review of Pilbara conglomerate-hosted gold in Proactive Q&A Sessions™

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