We're setting a new direction for Impact Minerals, and we wanted to explain it plainly.

From today, we're running two separate businesses. The priority is high-purity alumina, built around our Lake Hope Project (80%). The 2025 pre-feasibility study on Lake Hope pointed to an NPV10 of A$1.165 billion and a post-tax IRR of 47%, based on around 33 years of feedstock. We want to stress that these are study-stage figures: the company has confirmed the assumptions behind them still hold, but there's no certainty they'll be realised. The pilot plant is now under construction, with installation and commissioning targeted for 30 November 2026.

Alluminous, our 50% interest in a separate HPA pilot plant in Perth, will be held and managed as an investment rather than an operating priority. Its recent scoping study is preliminary, with an accuracy range of around plus or minus 50%.

Our precious and base metals ground is being treated differently. At Commonwealth, Kuniko Limited has earned 51% by fully funding exploration, a year ahead of schedule, and that work continues on their capital, not ours. At Broken Hill, we're looking for ways to monetise the tenements rather than fund years of exploration ourselves. Our geological team's future exploration effort will turn to critical minerals, an early-stage focus.

There's also boardroom change under way, with two directors retiring, new appointments expected before the AGM on 30 November 2026, and a proposed company name change going to shareholders at that meeting.

If you've got questions about any of this, we'd like to hear them through the hub.

This year's Annual General Meeting is set down for Monday 30 November 2026. We'll send out the full Notice of Meeting, with the formal agenda and resolutions, to shareholders and to the ASX in late October.

One administrative detail worth noting if it applies to you: if you're interested in standing for election as a director at the AGM, nominations need to be with our Registered Office by 5.00pm (AWST) on Monday 12 October 2026. This cut-off date is set by the ASX Listing Rules.

There's nothing else to this announcement, it's simply the formal scheduling notice that precedes every AGM. The substance of what's being put to shareholders will come through in the Notice of Meeting next month.

If you have questions about the AGM or the nomination process, you're welcome to ask us through the question box on this page.

This is our Annual Report for the year ended 30 June 2026, and we want to give you a plain-English walk through it.

The net loss for the year was $4,890,885, down from $9,018,447 the year before. That improvement mainly reflects a smaller impairment charge against exploration expenditure, $1,985,891 this year compared with $5,561,341 last year, as we continued to rationalise our project portfolio. Net assets grew to $12,879,974 and cash on hand at year end was $2,085,501.

Our strategy centres on building a high purity alumina (HPA) business from the salt lakes of Western Australia, alongside a portfolio of precious and base metals interests. At Lake Hope, our flagship HPA project, we advanced from a completed Pre-Feasibility Study towards a Definitive Feasibility Study, with a government co-funded pilot programme underway at Edith Cowan University. Our 50%-owned associate Alluminous shipped its first significant HPA samples to battery-materials partner C4V for qualification testing, an important but early step with no binding offtake attached.

On the metals side, our joint venture partner Kuniko Limited delivered strong drilling results at the Commonwealth project and has now earned a 51% interest, funding further work without diluting our HPA capital.

We raised $6.1 million in equity during the year, and the report notes that further capital will be needed to continue as a going concern, a standard disclosure for exploration-stage companies at our size. Since year end, we've also completed a rights issue raising over $2.2 million, and Michael Jones has resigned as Managing Director, with Jim McKerlie now serving as Chairman.

We're happy to take your questions on any of this through the question box on this page.

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