Jindalee Lithium targets A$6.7 million to advance McDermitt

Proactive - Interviews for investors

Jindalee Lithium Ltd (ASX:JLL, OTCQX:JNDAF) CEO Ian Rodger sits down with Jonathan Jackson in the Proactive studio to discuss a A$6.7 million capital raise through a combination of placement, entitlement issue and convertible notes, with an option to increase this by A$9 million. The funds will support the completion of the McDermitt Lithium Project’s pre-feasibility study (PFS), focusing on optimising capital intensity, operating costs, and production outcomes. Additional activities in the US will include baseline studies, permitting, and stakeholder engagement. In 2024, Jindalee plans to advance McDermitt by securing tribal agreements, US Government technical cooperation agreements and producing battery-grade lithium carbonate. Other milestones include updating on POSCO test work, completing the optimised PFS, potentially receiving US Government grant funding and starting a strategic partnership/investment process. Firm commitments of A$4.1 million for the placement include A$600,000 from institutional investors, directors and management at A$0.30 per share. This also includes A$500,000 from Mercer Street Global Opportunity Fund II, LP. Eligible shareholders can participate in a non-renounceable entitlement issue to raise up to A$3.1 million on the same terms. Directors and management have pre-committed A$500,000 to this issue. Additional funding up to $12 million via convertible securities from Mercer Street is also available. Rodger emphasised the importance of this funding for Jindalee’s future work programs, highlighting the value optimisation at McDermitt. Mercer Street’s managing partner, Jonathan Juchno, expressed confidence in Jindalee’s potential, noting a significant value disconnect between the company’s market valuation and the strategic potential of the McDermitt Project. #ProactiveInvestors #JindaleeLithium #ASX #OTCQX #McDermittProject #Lithium #ASXJLL #Funding #PreFeasibilityStudy #BatteryGradeLithium #CapitalRaising #USActivities #StrategicPartnership #LithiumMarket #EntitlementIssue #ConvertibleNotes #MercerStreet #Investment #Mining #LithiumProduction #EnergyStorage #RenewableEnergy #BatteryValueChain #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews