ioneer Ltd (ASX:INR) non-executive director Alan Davies has purchased 384,254 shares for about $50,337 through on-market trades.
This purchase increases his overall holding (direct and indirect) in the company to about 2.75 million shares and 857,710 options.
Last week, ioneer increased the JORC resource estimate for its 100% owned Rhyolite Ridge Lithium-Boron Project in Nevada, US.
The project’s overall resource now stands at 154 million tonnes for 1.3 million tonnes of lithium carbonate and 12.4 million tonnes of boric acid.
The Rhyolite Ridge definitive feasibility study (DFS) is expected to be complete in the September quarter and will build on the October 2018 PFS that forecast a two-stage mine with a life of over 30 years.
The planned starter pit being developed as part of the DFS is expected to provide stronger cash flows in the early years of the project compared to the PFS.
These improved cash flows will become evident upon completion of the updated mine plan and schedule currently being undertaken as part of the DFS.