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This has been a quarter of real change at Impact, and we want to be straight with you about it.

Jim McKerlie has stepped in as Executive Chair following Mike Jones's departure for health reasons after 20 years leading the company. We thank Mike for his work building our HPA strategy, and Jim is now running a 100 day plan to sharpen our direction and bring the company up to institutional investor readiness. That plan is on track, and a name change will be put to shareholders at the AGM on 30 November to reflect our new focus.

That focus is the Lake Hope high purity alumina project, which our Pre-Feasibility Study shows could deliver a post-tax NPV10 of A$1.165bn and a 47% IRR, figures the company confirms still apply. During the quarter, independent testing found uranium and thorium below 1 part per billion in our best sample, hitting the threshold used in advanced semiconductor applications. Pilot work continues with Edith Cowan University.

Our Alluminous associate also hit a milestone, with battery technology partner C4V confirming our HPA meets separator coating specifications, and an independent scoping study found a staged US plant could deliver strong returns, though this is early-stage and not yet attributable to our 50% share.

At Commonwealth-Silica Hill, our joint venture partner Kuniko has earned 51% and extended drilling at Silica Hill, with assay results and an updated resource estimate due in the coming months.

We completed a A$2.2 million rights issue in September, and held A$2.61 million in cash at quarter end.

We're happy to take your questions on this announcement through the hub.

We closed the September quarter with A$2.614 million in cash, up from A$2.082 million at the start of the quarter.

During the quarter we spent A$696K on exploration and evaluation across our project portfolio, plus A$13K on plant and equipment and A$254K on investments. Operating costs included A$208K in staff costs and A$390K in administration and corporate costs, partly offset by A$309K received in government R&D rebates and A$14K in interest.

On financing, we raised A$2.205 million from the issue of equity securities, with A$235K in transaction costs, and repaid A$200K in borrowings. That brought net cash from financing activities to A$1.770 million for the quarter.

Looking ahead, our total relevant outgoings (operating and exploration spend combined) came to A$971K for the quarter. With A$2.614 million in cash on hand and no unused finance facilities, we estimate this gives us around 2.69 quarters of funding at the current rate of spend.

This report is the standard quarterly cash flow statement we're required to lodge with the ASX, and it covers cash movements only rather than the full picture of our exploration progress across projects like Broken Hill and Arkun.

If you have questions about this announcement, we'd welcome you raising them through the question box on this page.

Our Annual General Meeting is coming up, and we want to make sure every shareholder knows what's on the agenda and how to have a say.

The meeting will be held on Monday, 30 November 2026 at 10:00am (AWST) at 9 Richardson Street, West Perth. If you can't attend in person, you can vote by proxy, and we'd encourage you to do so. Proxy votes need to be lodged by 10:00am (AWST) on Saturday, 28 November 2026.

There are ten resolutions this year. Alongside the usual remuneration report vote and director elections (Jim McKerlie, Scott Phegan and Dr Lana Weldon are all standing), shareholders are being asked to ratify three prior share and option issues that raised funds for our Lake Hope and Salmon Gums projects, our investment in Alluminous Pty Ltd, and exploration at Broken Hill, as well as a tenement acquisition settled in shares.

Two resolutions are worth flagging in particular. Resolution 8 asks for approval of a 10% placement facility, giving us extra flexibility to raise capital over the next 12 months without needing to come back to shareholders each time, subject to pricing and dilution limits set out in the notice. Resolution 9 proposes changing our name to Altrica Advanced Materials Limited, which the board believes better reflects where the company is heading. Resolution 10 asks shareholders to approve lifting the non-executive director fee pool from $250,000 to $500,000 per annum.

The board has made recommendations on each resolution, set out in full in the notice of meeting and explanatory memorandum, and some resolutions carry voting exclusions that are worth reading carefully if they apply to you.

We'd encourage every shareholder to read the full notice before voting, and if you have questions about any of this, we're glad to hear them through the question box on this page.

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