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Southern Gold Limited ( (AU:ION) ) just unveiled an announcement.
Iondrive Limited has successfully raised $4 million through a share placement to advance its e-waste recycling initiatives in the USA. The funds will be used to commercialize Iondrive’s IONSolv™ technology, focusing on processing end-of-life permanent magnets to recover rare-earth oxides. This initiative aims to reduce North America’s reliance on imported REOs and complements Iondrive’s ongoing efforts in battery and solar panel recycling. The company has signed a binding agreement with Colt Recycling LLC to provide mixed e-waste feedstock, and is progressing with a techno-economic assessment for a modular recycling plant. The move strengthens Iondrive’s market position and supports its applications for US Government grants.
More about Southern Gold Limited
Iondrive Limited is a company focused on developing innovative metal extraction processes using its proprietary IONSolv™ technology. The company primarily targets battery recycling, aiming to recover critical metals such as nickel, cobalt, lithium, and manganese through an environmentally friendly, closed-loop process. Unlike traditional methods, IONSolv™ operates at lower temperatures and avoids the use of aggressive acids, offering a selective extraction of individual metals.
YTD Price Performance: 46.67%
Average Trading Volume: 3,265,522
Technical Sentiment Signal: Buy
Current Market Cap: A$52.39M
For an in-depth examination of ION stock, go to TipRanks’ Overview page.