Ioneer Raises US$16M to Drive Rhyolite Ridge Toward Final Investment Decision

Strategic Capital Raise

Ioneer Ltd has successfully secured firm commitments for a US$16 million placement, issuing approximately 253 million new shares at A$0.10 each. This capital injection underscores investor confidence in the company’s flagship Rhyolite Ridge Lithium-Boron Project, a unique and strategically important deposit in North America.

The placement attracted strong support from a mix of new and existing institutional investors, reflecting the project's world-class status and its critical role in the evolving electric vehicle supply chain. The funds raised will be instrumental in advancing the project through key development phases, including environmental permitting and readiness activities.

Supporting Retail Investors and Project Advancement

Complementing the placement, Ioneer is launching a Share Purchase Plan (SPP) aimed at eligible retail shareholders, targeting an additional US$3.3 million. The SPP offers shareholders the opportunity to increase their holdings on the same terms as the placement, without brokerage or transaction fees, fostering broader participation in the company’s growth trajectory.

Proceeds from both the placement and the SPP will fund critical expenses such as environmental and permitting commitments, project costs, and general working capital. These efforts are designed to propel the Rhyolite Ridge project through a Strategic Partnering Process and ultimately to a Final Investment Decision, marking significant milestones in its development.

Rhyolite Ridge’s Strategic Importance

Rhyolite Ridge stands out as the only known lithium-boron deposit in North America and one of just two globally, positioning Ioneer at the forefront of supplying essential materials for lithium-ion batteries. The project recently secured a substantial US$996 million loan from the U.S. Department of Energy, alongside federal permitting approvals, reinforcing its viability and strategic importance.

Offtake agreements with major industry players such as Ford, Toyota’s joint venture Prime Planet & Energy Solutions, and Korea’s EcoPro Innovation further validate the project’s market relevance and potential to contribute meaningfully to the electric vehicle transition.

Looking Ahead

With the placement completed and the SPP underway, Ioneer is well-positioned to maintain momentum toward its development goals. The company’s leadership emphasizes the project’s role in securing a cleaner future and meeting the growing demand for lithium and boron in battery technologies.

Market watchers will be keen to observe how the Strategic Partnering Process unfolds and the timing of the Final Investment Decision, which will be critical in shaping Ioneer’s next phase of growth and its impact on the lithium supply landscape.