Jindalee raises cash for US lithium
PERTH (miningweekly.com) – ASX-listed Jindalee Resources will raise A$9-million through a share placement to fund resource growth and development studies at its McDermitt and Clayton North lithium projects, in the US, and to advance its gold and nickel projects in Western Australia.
The company on Monday announced that it would place six-million shares, at a price of A$1.50 each to institutional, professional and sophisticated investors under its existing placement capacity.
The placement price represents a 1.3% discount to Jindalee’s last trading price, and a 10% discount to its 15-day volume weighted average share price.
Chairperson Justin Mannolini said that the strongly supported and successful capital raising would ensure that the company is well funded to continue to develop the McDermitt project.
“Our recent drilling has returned broad, shallow lithium intercepts, both from within the existing inferred mineral resource and from considerable distance outside of the existing resource.
“These results have the potential to significantly increase the size of the existing resource and convert much of the current resource from inferred to indicated status. We look forward to providing a resource upgrade in late March or early April with a potential scoping study to follow.”
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation















