ioneer Ltd (ASX:INR) non-executive director John Hofmeister has acquired shares worth $116,090 from the market on June 23, 2020.
Hofmeister is supporting ioneer’s objective to fund its Rhyolite Ridge Lithium-Boron Project in Nevada, US with various sources of capital including strategic partnering, debt and equity.
In April, ioneer delivered a positive definitive feasibility study (DFS) with a 280% increase in the ore reserve estimate for the project.
The DFS delivered compelling economics with a net present value (NPV) of US$1.265 billion and unlevered after-tax internal rate of return (IRR) of 20.8%.
Formal strategic partnering process
Earlier this week, ioneer confirmed that the funding process is ongoing, and while discussions are advanced, a formal strategic partnering process has not commenced as reported in Australian Financial Review Street Talk column.
The company is currently in advanced discussions with a wide range of strategic players who could become part of its funding solution.
These discussions are progressing well, despite the current conditions, which is a strong reflection of the significant value that ioneer is positioned to deliver over the life of the project.