Our renounceable rights issue, launched on 17 August, has closed and raised $2,205,263 before costs. We'll issue 68,914,469 new shares and 45,942,980 new options, exercisable at $0.06 each and expiring 17 March 2029, which will trade on the ASX under the code IPTO.

We want to thank shareholders for their support, particularly in these uncertain times, and we're glad to welcome new investors to the register. Our major shareholder, a German-based family office, took up their full entitlement, which we see as a strong vote of confidence in our projects and direction.

Of the funds raised, $1,000,789 came from shareholders taking up their rights, with the remaining $1,204,475 coming through the shortfall. A further 22,052,630 options will be issued to Mahe Capital, who acted as Lead Manager and Underwriter. The new securities are expected to be issued on Friday, 18 September, and any remaining shortfall shares may be placed at the Directors' and Underwriter's discretion within three months of the closing date, under the allocation policy set out in the prospectus.

This funding is earmarked to accelerate both our high-purity alumina pathways: piloting at Lake Hope is now underway, and commissioning of the Alluminous pilot plant is continuing. The focus for both is on producing material for customer qualification and working towards commercial milestones.

If you have questions about this announcement, we'd encourage you to send them through the question box on this page.