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Southern Gold Limited ( (AU:ION) ) has issued an update.
Iondrive Limited has bolstered its financial position by receiving $1.3 million from the Australian Government’s R&D Tax Incentive and an additional $1.1 million from the Industry Growth Program. These funds, along with a recent $4 million capital raise, will support the development of its sustainable Deep Eutectic Solvent (DES) technology for applications in e-waste recycling, Li-ion battery recycling, solar cell recycling, and mineral processing. The financial boost is expected to enhance Iondrive’s operational capabilities and expand its market reach in the sustainable recycling and metal extraction sectors.
More about Southern Gold Limited
Iondrive Limited is a company focused on developing an innovative metal extraction process using its proprietary IONSolv™ technology. The company primarily targets the battery recycling industry, aiming to efficiently recover critical metals such as nickel, cobalt, lithium, and manganese through an environmentally friendly process. Iondrive’s technology operates at lower temperatures and eliminates the need for aggressive acids, offering a selective metal extraction approach. The company is also exploring opportunities in mineral processing and urban mining of e-waste.
Average Trading Volume: 2,935,678
Technical Sentiment Signal: Buy
Current Market Cap: A$53.26M
For an in-depth examination of ION stock, go to TipRanks’ Overview page.