Bob Karr
2 min read
In This Article:
ioneer Ltd (NASDAQ:IONR) is one of the 7 Best ASX Stocks to Buy Now. On June 26, ioneer Ltd (NASDAQ:IONR) announced the formal beginning of the strategic partnering process. This is expected to take a minimum of 4 months. After the completion of recent critical work, which includes a major ore reserve upgrade and updated Project economics, the company launched a formal strategic partnering process. This is to identify an equity partner who can help in accelerating the development of Rhyolite Ridge and advancing the Project into production.
A miner hard at work, extracting raw lithium from a mineral resource.
ioneer Ltd (NASDAQ:IONR) stated that the Rhyolite Ridge Project happens to be unique in the global lithium and boron sectors, and possesses a strong and resilient project economics with all-in sustaining costs anticipated to be in the lowest quartile of the global lithium cost curve. Furthermore, the key characteristics include the dual revenue from lithium (75%) and boron (25%), and the unique lithium-boron deposit, which allows for the production of high-purity chemicals at the mine site.
ioneer Ltd (NASDAQ:IONR) has also announced a non-underwritten share purchase plan, aiming to garner up to ~A$5.0 million. This follows the company’s successful completion of ~A$25 million institutional placement to eligible sophisticated and institutional investors. The consensus price target of ioneer Ltd (NASDAQ:IONR)’s stock stood at $5.68.
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Disclosure: None.
