Jindalee

Priority Offer Raises $0.6 Million

Jindalee Resources Limited (to be renamed “Jindalee Lithium Limited¹”) (Jindalee, the Company) announced a capital raising comprising a Public Offer raising up to $3.5 million (before costs) and a Priority Offer to eligible Jindalee share and option holders raising up to $2.0 Million (before costs)1.


  • Priority Offer closed 27 October 2023, raising $0.6M (before costs)
  • Total $4.1M (before costs) raised from Public and Priority Offers to advance McDermitt Lithium Project

On 19 October 2023 Jindalee announced that applications had been received for more than the maximum amount of $3.5 million (before costs) sought to be raised in the Public Offer and that the Public Offer would close early. Shares were issued to successful applicants on 20 October 2023 with over 150 new investors joining the Company’s share register2.

Jindalee advises that the Priority Offer closed as scheduled on 27 October 2023, raising approximately $0.6 million (before costs). The Company intends to issue Shares under the Priority Offer today, 31 October 2023. Jindalee Directors have applied for a further 175,000 shares (worth $245,000), subject to approval by shareholders at the Company’s AGM on 22 November 20233.

Funds raised will be used to advance exploration and development of the Company’s 100% owned McDermitt Lithium Project and provide general working capital. McDermitt is the largest lithium deposit in the US by contained lithium with 21.5Mt Lithium Carbonate Equivalent (LCE) in Mineral Resource4(Table 1).


Click here for the full ASX Release

This article includes content from Jindalee Resources Limited, 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.

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