Ann: Impact Raises $3.25 Million and Drilling Commences, page-108

There has been strong market recognition of a potential significant discovery at Red Hill, given the share price performance of IPT since the announcement of the re-assay results in May. The stock seems to have flown under the radar prior to this announcement. The recent capital raising further increased the profile of the stock, which I believe gave the share price another leg up. $3.2m was raised versus what I understand was an original target size of $2m due to very strong demand. The selling of a large number of shares by the German shareholder and Squadron has definitely held the stock back but there is no doubt there has been significant demand from buyers.

In any case, if they get more intercepts of good width and grade showing strike and depth extensions and find a massive sulphide zone (the EM conductor?) this will confirm the discovery. All IMO and GLTAH.