Australia-based ioneer on Thursday announced a fully underwritten institutional placement to professional and sophisticated investors to raise A$40-million, which would take the Rhyolite Ridge lithium/boron project, in the US, through to a final investment decision (FID).
The proceeds of the placement would be used to fund the completion of the definitive feasibility study (DFS), advance detailed engineering beyond the DFS to about 50% completion, complete the environmental approval process and potentially buy long lead time items.