Ioneer (ASX:INR) has raised US$50 million via an institutional placement to accelerate the development of its 100% owned Rhyolite Ridge Lithium-Boron Project in Nevada.
The capital raise was conducted through the issue of 400 million new shares at a price of $0.18, representing a 14.3% discount to its most recent closing price.
The company stated that the placement received strong support from both new and existing institutional investors, following the recent completion of the project's federal permitting process.
The funds will be primarily directed toward "long lead" equipment items, early site works, and environmental commitments, ensuring the project is ready for full-scale construction.
Ioneer Executive Chair James Calaway described the funding as a "strong endorsement" of the company's strategy to help onshore critical mineral production in the United States.
Managing Director Bernard Rowe added that the capital strengthens Ioneer's position as a key domestic supplier of lithium—essential for electric vehicle batteries—and boron, which is used in high-tech glass and permanent magnets.
The new shares are expected to settle on Feb. 5, with trading on the ASX scheduled to commence the following day.
The capital injection, combined with a previous conditional loan from the US Department of Energy, places Ioneer on a clear path to becoming a significant contributor to the US green energy supply chain.
At the time of reporting, Ioneer's share price was $0.16.