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Jindalee Resources Limited ( (AU:JLL) ) just unveiled an update.
Jindalee Lithium Limited has successfully secured firm commitments to raise approximately $8 million through a private placement of shares to sophisticated, professional, and institutional investors. The funds will be used to advance the McDermitt Lithium Project, including exploration drilling and metallurgical testwork, as well as to support a proposed SPAC transaction. Additionally, the company plans to offer a Share Purchase Plan (SPP) to eligible shareholders, aiming to raise up to $1 million. The placement and SPP will also allow the company to simplify its balance sheet by repurchasing convertible notes. This financial move reflects growing investor confidence in Jindalee and the strategic importance of its projects.
More about Jindalee Resources Limited
Jindalee Lithium Limited operates in the mining industry, focusing primarily on lithium exploration and development. The company is involved in advancing the McDermitt Lithium Project, which is strategically important for the US critical mineral supply.
Average Trading Volume: 209,577
Technical Sentiment Signal: Hold
Current Market Cap: A$75.73M
For a thorough assessment of JLL stock, go to TipRanks’ Stock Analysis page.