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Jindalee Resources Limited ( (AU:JLL) ) has shared an update.
Jindalee Lithium Limited announced the successful completion of its Share Purchase Plan (SPP), raising $1.5 million, exceeding its initial target of $1 million due to strong demand. The funds will be used to advance the McDermitt Lithium Project, including exploration drilling and metallurgical testwork, and to support a proposed SPAC transaction in the United States. This oversubscription reflects shareholder confidence in Jindalee’s strategic importance and the potential of the McDermitt Project, further positioning the company as a key player in the lithium market.
More about Jindalee Resources Limited
Jindalee Lithium is an Australian company focused on developing the McDermitt Lithium Project, one of the largest lithium resources in the U.S. With 100% ownership and unencumbered offtake rights, Jindalee is strategically positioned to support America’s energy security and domestic supply of critical minerals. The Company recently completed a Pre-Feasibility Study confirming McDermitt’s scale, long-life, and low-cost production potential, with strong engagement from U.S. government agencies, including the Department of Energy.
Average Trading Volume: 316,434
Technical Sentiment Signal: Hold
Current Market Cap: A$56.53M
See more data about JLL stock on TipRanks’ Stock Analysis page.