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Jindalee Resources Limited ( (AU:JLL) ) has issued an update.
Jindalee Resources Limited has signed a non-binding Letter of Intent with Constellation Acquisition Corp. I to merge its US subsidiary, HiTech Minerals Inc., with Constellation to form a new entity, NewCo. This transaction, valued at US$500 million, aims to list NewCo on a US national securities exchange, providing significant funding to advance the McDermitt Project and capitalize on US government support for domestic critical minerals. The transaction is subject to customary closing conditions and regulatory approvals, with completion targeted for the first half of 2026.
More about Jindalee Resources Limited
Jindalee Resources Limited is a company operating in the lithium industry, focusing on the exploration and development of lithium projects. Its primary asset is the McDermitt Lithium Project in Oregon, which is one of the largest lithium resources in the United States.
Average Trading Volume: 68,783
Technical Sentiment Signal: Buy
Current Market Cap: A$31.95M
See more insights into JLL stock on TipRanks’ Stock Analysis page.