
Jindalee will be attending the PDAC Convention in Toronto, Canada over 2-5 March 2025
Jindalee will present to a North American investor audience at Redcloud's 13th annual Pre-PDAC Mining Showcase in Toronto over 27-28 February 2025
With compelling economic metrics demonstrated through its new prefeasibility study, Jindalee Lithium’s McDermitt Project presents a strong case for investors to gain exposure to this critical mineral and participate in the global clean energy transition.
Jindalee Lithium (ASX:JLL,OTCQX:JNDAF) is an Australia-based pure-play US lithium company focused exclusively on its 100-percent-owned McDermitt Lithium Project, currently one of the largest lithium deposits in the US, boasting a resource of 21.5 million tons (Mt) of lithium carbonate equivalent (LCE).
Backed by a newly released (November 2024) prefeasibility study (PFS) demonstrating very compelling economics, the McDermitt Project is poised to play a crucial role in meeting North America’s growing lithium demand for the lucrative battery value chain.
As the US continues to transition to energy independence, demand for lithium is expected to exponentially increase. Jindalee’s McDermitt Project, located in southeast Oregon, is a game-changer for North American lithium supply, critical for meeting the demands of the fast-growing electric vehicle, energy storage and defense sectors.
McDermitt also stands to significantly benefit from the US government’s policies and incentives to boost domestic supply of critical resources. In fact, in a move that signifies the US government's support of the McDermitt Lithium Project, the US Department of Energy's Ames National Laboratory signed a Cooperative Research and Development Agreement with Jindalee's subsidiary HiTech Minerals to develop cutting-edge extraction methods for the McDermitt Project. The Ames National Laboratory spearheads the DOE's Critical Materials Innovation Hub.
Key milestones in the US lithium resource space also provide significant insights into the future prospects for Jindalee’s project. Lithium Americas (TSX:LAC), for instance, has received a total of US$945 million investment from General Motors, which will fund the development, construction and operation of the Thacker Pass project in Humboldt County, Nevada. In October 2024 LAC closed a $2.3 billion loan from the US Department of Energy and in April 2025 announced the Final Investment Decision for Thacker Pass following a $250 million investment from Orion Resource Partners.
Another lithium resource developer in Nevada, Australia-based Ioneer (ASX:INR) has closed a US$996 million loan guarantee from the US Department of Energy to finance the development of its flagship Rhyolite Ridge lithium-boron project.
The US government has taken further action to bolster domestic critical mineral production. On 20 March 2025, President Trump issued a significant executive order titled "Immediate Measures to Increase American Mineral Production", underscoring the urgency and strategic imperative of increasing domestic supply chains for critical minerals. This order builds on previous initiatives by fast-tracking the permitting processes, prioritizing access to mineral-rich federal lands, clarifying regulatory frameworks, and mobilizing substantial financial resources – including Defense Production Act (DPA) funds – towards domestic mineral projects.
As one of the largest lithium resources in the US and situated on federal lands, Jindalee’s McDermitt Lithium Project stands to potentially benefit from these accelerated permitting processes and enhanced government support mechanisms. The clear commitment demonstrated by the US administration highlights the critical strategic advantage of domestically located mineral assets such as McDermitt, reinforcing its importance in securing robust domestic supply chains, essential for energy security
These are just a few examples of current market dynamics that point to a rapidly accelerating lithium resource development in the US.
An experienced management team, with the right blend of experience and expertise in geology, corporate administration and international finance, leads Jindalee to fully capitalize on the potential of its assets.
The economic metrics revealed in the PFS paint a compelling picture of the McDermitt Lithium Project's potential:
Production Capacity: The Project is set to produce 1.8 Mt of battery-grade lithium carbonate over its first 40 years, with an annual output forecast of 47,500 tons per annum (tpa) in the initial 10 years, tapering to 44,300 tpa over the first 40 years.
Financial Metrics: The Project boasts a net present value (NPV) of US$3.23 billion at an 8 percent discount rate, with an internal rate of return (IRR) of 17.9 percent. These figures underscore the Project’s strong economic viability.
Payback Period: Investors can expect a payback period of less than five years, a relatively short timeframe for a project of this magnitude.
Break-even Price: The break-even NPV price is approximately US$14,600/t of lithium carbonate, providing a buffer against market fluctuations.
The PFS estimates a total project cost of US$3.02 billion, which includes a prudent 21 percent contingency margin. This substantial investment is balanced by impressive profitability projections, including an EBITDA margin of 66 percent generating post-tax free cash flow of US$6.6 billion during the first decade of operations. With a pre-tax net operating cashflow margin of 17 percent at current spot prices, McDermitt shows strong cash generation potential.
These financial indicators suggest that McDermitt is not only economically viable but potentially highly profitable, positioning it as an attractive prospect for investors and strategic partners alike.
The McDermitt Project is located in Malheur County on the Oregon-Nevada border and is approximately 35 kilometres west of the town of McDermitt. The 100-percent-owned asset covers 54.6 square kilometres of claims at the northern end of the McDermitt volcanic caldera.
The Project is characterized by its unique sedimentary lithium deposits, primarily composed of lithium-bearing clays, a geological formation that sets McDermitt apart from many other lithium projects worldwide. This sedimentary nature of the deposit offers several advantages:
The lithium-rich clays at McDermitt are part of a broader geological context that includes volcanic tuffs and sedimentary rocks. This geological setting is indicative of a complex depositional history, which has resulted in the concentration of lithium in economically viable quantities.
The 2023 mineral resources estimate (MRE) for the McDermitt Project contains a combined indicated and inferred mineral resource inventory of 3 billion tons at 1,340 parts per million (ppm) lithium for a total of 21.5 Mt LCE at 1,000 ppm cut-off grade.
Ian Rodger is a qualified mining business executive with almost 15 years of experience in various roles including as a mining engineer for Rio Tinto across two large greenfield mine developments, before successfully transitioning into mining corporate finance where he held Executive and Director positions at RFC Ambrian overseeing origination and management of numerous mandates across a range of corporate advisory roles. Rodger was the project director for Oz Minerals (ASX:OZL) where he made significant contributions to successfully define the value potential of the West Musgrave nickel/copper province through the delivery of a portfolio of growth studies. Most notably, he led technical, market and partnership development workstreams, successfully confirming value potential for producing an intermediate Nickel product for the battery value chain.
Rodger holds a Bachelor of Mining Engineering from the University of Queensland, a Masters of Mineral Economics from Curtin University and is also a graduate of the Australian Institute of Company Directors and member of the Australasian Institute of Mining and Metallurgy.
Lindsay Dudfield is a geologist with over 40 years of experience in multi-commodity exploration, primarily within Australia. He held senior positions with the mineral divisions of Amoco and Exxon. In 1987, he became a founding director of Dalrymple Resources NL and spent the following eight years helping acquire and explore Dalrymple’s properties, leading to several greenfield discoveries. In late 1994, Lindsay joined the board of Horizon Mining NL (Jindalee Lithium’s predecessor) and has been responsible for managing Jindalee Lithium since inception. Lindsay is a member of the Australasian Institute of Mining and Metallurgy, the Australian Institute of Geoscientists, the Geological Society of Australia and the Society of Economic Geologists. He is also a non-executive director of Jindalee spin-out companies Energy Metals (ASX:EME), Dynamic Metals (ASX:DYM) and Alchemy Resources (ASX:ALY).
Wayne Zekulich was appointed to the board as Chair on 1 February 2024. He holds a Bachelor of Business and is a fellow of the Institute of Chartered Accountants. Zekulich is a consultant and non-executive director who has substantial experience in advising, structuring and financing transactions in the infrastructure and resources sectors. He was previously the head of Rothschild in Perth, chief financial officer of Gindalbie Metals Limited, chief development officer of Oakajee Port and Rail and a consultant to a global investment bank. Currently, he is chair of Pantoro (ASX:PNR) and non-executive director of the Western Australian Treasury Corporation. In the not-for-profit sector, he is the past chair of the Lester Prize and is a mentor in the Kilfinan program.
Darren Wates is a corporate lawyer with over 23 years of experience in equity capital markets, mergers and acquisitions, resources, project acquisitions/divestments and corporate governance gained through private practice and in-house roles in Western Australia. Wates is the founder and principal of Corpex Legal, a Perth-based legal practice providing corporate, commercial and resources related legal services, primarily to small and mid-cap ASX listed companies. In this role, he has provided consulting general counsel services to ASX listed company Neometals (ASX:NMT), having previously been employed as legal counsel of Neometals. Wates holds Bachelor's degrees in Law and Commerce and a Graduate Diploma in Applied Finance and Investment.
Paul Brown has over 23 years of experience in the mining industry, most recently with Mineral Resources (ASX:MIN) where he was chief executive – lithium, and chief executive – commodities. Brown has held senior operating roles with Leighton, HWE and Fortescue (ASX:FMG) and has a strong track record in technical leadership, project/studies management, and mine planning and management. Brown is currently CEO of Core Lithium (ASX:CXO). He holds a Master in Mine Engineering.
Game-changing, economically significant lithium resource for North American battery supply chain
Jindalee will be attending the PDAC Convention in Toronto, Canada over 2-5 March 2025
Jindalee will present to a North American investor audience at Redcloud's 13th annual Pre-PDAC Mining Showcase in Toronto over 27-28 February 2025
Redcloud is a Canadian-based investor relations group specialising in the junior resources sector
Jindalee Lithium Limited (ASX: JLL) (OTCQX: JNDAF) (Jindalee, the Company) is pleased to announce that the Company will participate in both the Prospectors and Developers Association of Canada (PDAC) Convention and the Pre-PDAC Mining Showcase, hosted by Redcloud Financial Services Inc. (Redcloud), a globally oriented resource focused financial services platform.
Jindalee can be found at booth 2606 in the Investors Exchange Exhibition Room at the PDAC Convention which will be attended by Jindalee's Chief Executive Officer, Ian Rodger. PDAC, regarded as one of the world's premier resources conferences, will run from Sunday, 2 March 2025 until Wednesday, 5 March 2025 at the Metro Toronto Convention Centre in Ontario, Canada.
Jindalee is also participating in Redcloud's Pre-PDAC Mining Showcase at the Omni King Edward Hotel in Toronto over Thursday 27 and Friday, 28 February 2025. Ian will be presenting at the Pre-PDAC Mining Showcase at 4.00pm local time on Friday, 28 February 2025. Jindalee will also be available to engage with investors in one-on-one meetings at the Pre-PDAC Mining Showcase and encourages interested investors to register for the event.
Jindalee looks forward to updating the North American mining and investment communities on progress at its 100% owned McDermitt Lithium Project which hosts one of the largest lithium resources in the U.S. The Pre-Feasibility Study at McDermitt, released in November 2024, outlines a highly robust multi-generational battery chemicals project1.
To register for the PDAC Convention visit here: https://pdac.ca/convention-2025/attending-2025/registration-2025
For more information and to register for the Pre-PDAC Conference please visit: https://redcloudfs.com/prepdac2025/
Authorised for release by the Jindalee Board of Directors. For further information please contact:
LINDSAY DUDFIELD | IAN RODGER |
Executive Director | Chief Executive Officer |
T: + 61 8 9321 7550 | T: + 61 8 9321 7550 |
E: enquiry@jindaleelithium.com | E: enquiry@jindaleelithium.com |
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About Jindalee
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 (PFS) confirming McDermitt's scale, long-life, and low-cost production potential, with strong engagement from U.S. government agencies, including the Department of Energy and Department of Defense. As a deeply undervalued lithium developer, Jindalee presents a compelling investment opportunity ahead of the next lithium market upcycle.
Competent Persons Statement
The Company confirms that it is not aware of any further new information or data that materially affects the information included in the original market announcements by Jindalee Lithium Limited referenced in this report and in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. To the extent disclosed above, the Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcements.
Forward-Looking Statements
This document may contain certain forward-looking statements. Forward-looking statements include but are not limited to statements concerning Jindalee Lithium Limited's (Jindalee's) current expectations, estimates and projections about the industry in which Jindalee operates, and beliefs and assumptions regarding Jindalee's future performance. When used in this document, the words such as "anticipate", "could", "plan", "estimate", "expects", "seeks", "intends", "may", "potential", "should", and similar expressions are forward-looking statements. Although Jindalee believes that its expectations reflected in these forward-looking statements are reasonable, such statements are subject to known and unknown risks, uncertainties and other factors, some of which are beyond the control of Jindalee and no assurance can be given that actual results will be consistent with these forward-looking statements.
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1Jindalee Lithium ASX announcement 19/11/2024: "McDermitt Lithium Project Pre-Feasibility Study"
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241723
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About Altech Batteries Ltd: Â
Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.
The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.
Source:
Altech Batteries Ltd
Contact:
Corporate
Iggy Tan
Managing Director
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com
Martin Stein
Chief Financial Officer
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com
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