Ioneer raises A$25m for Rhyolite Ridge project
ASX-listed Ioneer on Friday said it had secured commitments to raise about A$25-million ($16-million) through a share placement to fund work at the Rhyolite Ridge lithium/boron project in Nevada.
The company will issue about 253-million new shares at A$0.10 ($0.065) apiece, representing a 13% discount to its last closing price on June 10. The placement received strong support from new and existing institutional investors, Ioneer said.
The funds will help drive the project toward final investment decision, including environmental and permitting work, project-readiness activities and general corporate purposes.
“Rhyolite Ridge continues to demonstrate it is a world-leading lithium project, helping accelerate the electric vehicle transition and securing a cleaner future for our children and grandchildren,” said Ioneer executive chairperson James Calaway.
“Ioneer is pleased to announce the successful completion of the placement with strong engagement from new and existing investors, signalling market confidence [in] the Rhyolite Ridge project despite significant headwinds in the lithium market," MD Bernard Rowe added.
In addition to the placement, Ioneer will offer eligible retail shareholders in Australia and New Zealand the opportunity to subscribe for up to A$30 000 of new shares under a share purchase plan, seeking to raise an additional A$5-million ($3.3-million) at the same offer price.
Comments
Projects
Latest Multimedia
Latest News
Showroom
Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers
VISIT SHOWROOM
BOVA cemented their reputation in Africa by delivering high quality engineering through their range of safety footwear. 21 years after producing...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
