Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
ioneer Limited ( (AU:INR) ) just unveiled an update.
Ioneer Ltd announced the results of its Share Purchase Plan (SPP), which raised approximately US$2.2 million through the issuance of 33,550,000 new shares. The funds from the SPP, along with a previous US$16 million placement, will be used to advance the development of the Rhyolite Ridge Lithium-Boron Project. This includes project readiness, environmental and permitting expenses, and other project costs. The successful fundraising efforts are expected to accelerate the project’s progress, potentially enhancing Ioneer’s position in the lithium-boron market and benefiting stakeholders involved.
The most recent analyst rating on (AU:INR) stock is a Buy with a A$0.35 price target. To see the full list of analyst forecasts on ioneer Limited stock, see the AU:INR Stock Forecast page.
More about ioneer Limited
Ioneer Ltd is an emerging producer in the lithium-boron industry, owning the Rhyolite Ridge Lithium-Boron Project, the only known lithium-boron deposit in North America. The project is a key component in Nevada’s Lithium Loop and has secured significant financial backing, including a US$996 million loan from the U.S. Department of Energy. Ioneer has also established offtake agreements with major companies like Ford and a joint venture between Toyota and Panasonic.
Average Trading Volume: 5,675,544
Technical Sentiment Signal: Sell
Current Market Cap: A$289.1M
See more data about INR stock on TipRanks’ Stock Analysis page.