The company will issue around 253 million new fully paid ordinary shares at an offer price of A$0.10 ($0.065) per share.
The placement, received strong backing from both new and existing shareholders. Ioneer will issue around 253 million new fully paid ordinary shares at A$0.10 each, reflecting a 13% discount to the closing price on that date. These shares will rank equally with existing ordinary shares.
The capital will fund project readiness, environmental and permitting costs, and general corporate needs. Canaccord Genuity served as lead manager and bookrunner, with Stifel Nicolaus Europe and Bridge Street Capital Partners as co-lead manager and co-manager, respectively.
James Calaway, Ioneer’s executive chair, stated: “Rhyolite Ridge continues to demonstrate it is a world-leading lithium project, helping accelerate the electric vehicle transition and securing a cleaner future for our children and grandchildren. This placement represents another step forward towards ensuring this world-class project operates efficiently and sustainably.”
Additionally, Ioneer launched a share purchase plan (SPP) for eligible shareholders, targeting up to $3.3 million at the same share price. The SPP allows shareholders to acquire up to A$30,000 in additional shares without brokerage or transaction fees, further strengthening investor participation.
Bernard Rowe, Ioneer’s managing director, said: “Ioneer is pleased to announce the successful completion of the placement with strong engagement from new and existing investors, signalling market confidence [in] the Rhyolite Ridge Project despite significant headwinds in the lithium market.”
The funding follows the February 2025 exit of South African miner Sibanye-Stillwater from a joint venture with Ioneer, prompted by a decline in lithium prices. The Rhyolite Ridge project remains a key initiative for supplying lithium and boron, critical materials for electric vehicle batteries and renewable energy technologies, supporting global sustainability goals.
