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ioneer in a trading halt ahead of capital raising announcement

Published: 13:52 03 Mar 2021 AEDT

ioneer Ltd - ioneer in a trading halt ahead of capital raising announcement
The halt will remain until March 5 or when an announcement is released to the market.

ioneer Ltd (ASX:INR) (OTCMKTS:GSCCF) has been granted a trading halt by the ASX with an announcement pending concerning a proposed capital raising.

The halt will be in place until the start of regular trading on Friday, March 5, or when an announcement is released to the market, whichever occurs earliest.

Joint automation study completed

Last month, the company completed a joint automation study with Caterpillar, the world’s largest manufacturer of construction and mining equipment and the Cat dealer for Nevada, Cashman Equipment Company, targeting the early introduction of Cat® Command.

The study detailed the apparent benefits for early adoption of a Cat® Command for hauling, Autonomous Haul System (AHS) at ioneer’s Rhyolite Ridge Lithium-Boron Project in Esmerelda County, Nevada, for improved operator safety, equipment utilisation and site productivity.

With the study complete and Rhyolite Ridge appearing to be a very favourable candidate for AHS, ioneer and Caterpillar have signed a Memorandum of Understanding (MoU) to move the initiative forward.

“Goal to improve project safety”

ioneer managing director Bernard Rowe said at the time: "We are very pleased with the results of the automation study and look forward to working with Caterpillar, Cashman, and Intermountain Mining Technology in our effort to produce materials that are vital to a sustainable future.

“The incorporation of an autonomous haulage system and other Caterpillar technologies at Rhyolite Ridge will only further our goal to improve project safety and operational efficiency.”

Ioneer updates on permitting and Rhyolite Ridge growth potential

Ioneer Ltd (ASX:INR, OTC:GSCCF, NASDAQ:IONR) MD Bernard Rowe tells Proactive he’s highly encouraged by the latest leach tests that indicate the Rhyolite Ridge Project has the potential to boost the US domestic supply of lithium, a crucial element for electric vehicle batteries. This comes at a...

on 27/9/23