JOHANNESBURG (miningweekly.com) - ASX-listed uranium and gold exploration company, Impact Minerals, was taking advantage of the current market turmoil to review a number of advanced mineral projects in Australia, which could offer the potential for near-term production.

Impact MD Dr Mike Jones said the company was taking prudent steps to reduce cash costs. “Our view, however, is that the change for the worse in world capital markets this year, provides opportunities over and above the short-term difficulties.”

The company was looking to boost its Australian and African portfolios, which were currently focused on nickel, uranium, and gold. “Impact has both advanced projects and alliances on two continents with much larger entities, we are in a sound position to add to our project line.”

Jones said that the pro-uranium mining stance of the new Western Australian government had provided the encouragement the company needed to evaluate more thoroughly the economic potential and ownership of the Nowthanna uranium deposit, of which it owned 40%.

Impact’s other Australian assets included interests in the Quinns Lake/Yarrabubba uranium and nickel project, and the Junction South nickel and gold project, in Western Australia. “We have already been approached by several entities interested in joint venturing some of our Queensland gold projects, and these approaches remain under evaluation, as well as our reviews on possible acquisitions.”

The company has acquired, and has started work on 20 000 km² of uranium prospective tenements in eastern Botswana, and had also been approached by several large companies with a view to joint ventures (JVs).

An exploration alliance had been struck with the world’s second-largest platinum producer, Impala Platinum, to explore and develop nickel-platinum group elements (PGE) deposits in southern Africa.

“Impact views southern Africa as having excellent potential for increasing our exposure to the nickel-PGE in joint venture with Impala going forward, and we should be increasing our activities there over the next 12 months.”

Jones said that the alliance provided Impact with the ability to generate nickel-PGE projects in a number of new southern African countries, including Botswana, Madagascar, Malawi, Mozambique, Namibia, and Zambia.

He added that Impact was also in a better position, compared with other Australian juniors through its alliance and untapped JV potential, to not just ride out the downturn, but to use it to expand its work-in-hand.

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