Quarterly Activities Report For The Period Ending 31 March 2023

Ioneer Ltd (“Ioneer” or “the Company”) (ASX: INR, Nasdaq: IONR), an emerging lithium-boron supplier, is pleased to report on its activities for the quarter ending 31 March 2023 and to provide an update on the development of its 100%-owned Rhyolite Ridge Lithium-Boron Project in Esmeralda County, Nevada (“Rhyolite Ridge Project” or “the Project”)

Highlights

• Mineral Resource increases by 168% to 3.4 Mt lithium carbonate equivalent (LCE) (announced Apr 26, 2023)
• U.S. Department of Energy offers conditional commitment for a loan of up to US$700 million for the Rhyolite Ridge Project
• NEPA permitting process advances with formal closure of the Public Scoping Period
• Detailed engineering and procurement activities advancing

Ioneer Managing Director, Bernard Rowe said:

“To date, we have focussed heavily on progressing our development plan for Rhyolite Ridge. With binding offtakes in place, debt & equity commitments of nearly US$1.2 billion and the Project in the final stage of permitting, we can now begin demonstrating the broader scale potential at Rhyolite Ridge. The updated Mineral Resource for the South Basin is a fantastic start, and we look forward to building on this further with significant growth potential through South Basin extensions as well as increased exploration efforts on the similarly mineralised and much larger North Basin.

The United States Department of Energy (DOE) offering the Company a Conditional Commitment for a loan of up to US$700m was the most significant milestone to date in the history of the Company and a testament to the countless hours of hard work by the Ioneer team over the past six years.

Additionally, following the BLM’s decision to publish a Notice of Intent (NOI) in December 2022, the final stage of permitting, we have continued to make measurable progress in the NEPA process towards a draft Environmental Impact Statement (EIS) with completion of the public scoping period during the quarter.

Our Project is uniquely positioned in the U.S., and has been engineered to ensure a stable, long- term, environmentally sustainable source of lithium. Now, with conditional debt and equity commitments of nearly US$1.2 billion and the final permitting stage well underway, we are also expanding our focus to pursue the significant organic growth opportunities at Rhyolite Ridge in both the north and south basins.”

Click here for the full ASX Release

This article includes content from Ioneer Ltd, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.