Capitalised at about $25 million, Impact this week unveiled the Lake Hope high purity alumina project on a salt lake near Hyden in Western Australia.
Speaking at the Brisbane Mining Conference, Jones says it looks like a world-class deposit that could be developed very quickly.
And at costs equal-to, or below, that being forecast by Alpha HPA, which is using a disruptive technology and which evidently has got the HPA world enthralled.
According to indications given by Jones, Lake Hope has all the grade, metallurgical, orebody shallowness and orientation, plus environmental attributes, to be a world-class project.
Contained alumina oxide at Lake Hope could total US$20 billion in value.
Scoping numbers and an initial resource estimate are expected in upcoming months.
A mining lease application will be lodged in the next six months.
HPA is used in LEDs and increasingly in the lithium battery space to coat anodes, said Jones.
For Jones, the definition of insanity that says it is ‘doing the same thing over and over again' has been ringing true after 16 years of more or less unsuccessful exploration.
Based on what Jones is seeing Lake Hope appears to be an ‘insane' opportunity.
Impact had $2.1 million cash at the end of December.