Ioneer Secures $16 Million to Boost Rhyolite Ridge Project

An announcement from ioneer Limited ( (AU:INR) ) is now available.

Ioneer Limited has successfully raised approximately US$16 million through a placement of new shares, supported by both new and existing investors. This funding will advance the Rhyolite Ridge Lithium-Boron Project, covering project readiness, environmental and permitting expenses, and other associated costs. The company also plans a share purchase plan for existing shareholders to raise additional funds, further supporting the project’s development and enhancing market confidence despite challenges in the lithium market.

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 Limited is a company operating in the mining industry, focusing on the development of lithium and boron projects. Its primary project is the Rhyolite Ridge Lithium-Boron Project, which aims to support the electric vehicle transition and promote a sustainable future.

Average Trading Volume: 3,351,656

Technical Sentiment Signal: Sell

Current Market Cap: A$270.9M

Find detailed analytics on INR stock on TipRanks’ Stock Analysis page.