Jindalee Lithium Ltd (ASX:JLL, OTCQX:JNDAF) CEO Ian Rodger talked with Proactive about the company’s binding business combination agreement to establish US Elemental Inc., a Nasdaq-listed vehicle that will hold its US-based McDermitt Lithium Project.
Rodger explained that McDermitt is a “very large scale, long life project” with the potential to produce lithium chemicals in the United States, positioning it as a strategically important asset amid efforts to strengthen domestic supply chains. He highlighted a significant valuation disconnect, noting that while Jindalee Lithium currently has a market capitalisation of around A$65 million, the transaction implies a valuation of approximately US$500 million for its US assets.
The agreement represents a pathway to US capital markets, with plans to raise between US$20 million and US$30 million to advance the project. Rodger said the company expects to retain more than 80% ownership of US Elemental, ensuring continued exposure for existing shareholders while enabling less dilutive funding.
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