External News & Commentary, page-1585

IMO I don't foresee the DoE loan approval doing too much to share price. Probably a tiny uptick. Being eligible for low cost capital is great but if you cant use it well.............. So if BLM issues permit on the other hand...............now that will put a rocket up INR. We should have an entire re-rate to the upside due to significant derisk and more likelyhood of cashflow within a foreseeable future and with the proper management team at the helm which we have under Calaway who oversaw the entire ORE contruction & operation it makes for a great success story! Would likely be followed by a Share price decline while in construction and a secondary re-rate once we have the project up and running pending no blow out of contingency provisions. The project is definitely a bottom draw job at the moment unless you're a day trader.

But cant help get excited about Ioneer. They seem to have great timing on a lot of things either by luck or knowledgeable board. Id say past capital raises were from an exceptional board timing market. The luck part was covid and its drive for self-reliance and not simply relying on other countries for lithium and boron which was more likely during pre-covid when the world embraced globalisation. But with USAs push away from China and other countries Ioneer by sheer luck has become extremely well placed.