Iondrive Issues 14.5 Million New Shares Under Section 708A

The latest announcement is out from Southern Gold Limited ( (AU:ION) ).

Iondrive Limited has issued 14.5 million fully paid ordinary shares without a prospectus, using provisions under section 708A of the Corporations Act that allow certain share issues without formal disclosure to investors. The company confirmed it is compliant with its financial reporting and continuous disclosure obligations and that there is no excluded information requiring disclosure, signalling that the capital raising has been structured to align with regulatory requirements while potentially strengthening its funding base for advancing its critical minerals extraction technology.

The most recent analyst rating on (AU:ION) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Southern Gold Limited stock, see the AU:ION Stock Forecast page.

More about Southern Gold Limited

Iondrive Limited is an Australian company developing IONSolv™, a metal extraction platform focused on the selective recovery of critical minerals. Its technology operates at low temperatures, avoids aggressive acids and uses tunable chemistry to enable efficient, closed-loop extraction from various feedstocks. While initially targeting battery materials, IONSolv™ is designed for broader use in mineral processing and urban mining of electronic waste.

Average Trading Volume: 2,003,099

Technical Sentiment Signal: Hold

Current Market Cap: A$55.02M

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