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Name | Symbol | Market | Type |
---|---|---|---|
ioneer Ltd | NASDAQ:IONR | NASDAQ | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.053 | -0.93% | 5.647 | 5.48 | 5.81 | 5.82 | 5.39 | 5.61 | 12,185 | 01:00:00 |
Exhibit
|
Description
|
|
Quarterly Report for the Quarter ended December 31, 2023
|
ioneer Ltd
|
|||
(registrant)
|
|||
Date: January 30, 202
|
By:
|
/s/ Ian Bucknell | |
Name: Ian Bucknell
|
|||
Title: Chief Financial Officer & Company Secretary
|
• |
Permitting
|
o |
Key milestone achieved with completion by BLM of the administrative draft EIS.
|
o |
The draft EIS will be made available to the public once BLM management and cooperating agency reviews are complete.
|
o |
Commencement of the 45-day public comment period expected this quarter (Q1 2024).
|
• |
Project Advancement and Operational Readiness
|
o |
Successful geotechnical drilling program completed on time and on budget.
|
o |
Drilling program completes coverage of the southern and southeastern sections of the South Basin and provides valuable information for the NEPA evaluation that will also feed into the updated resource and
quarry design.
|
o |
Work continues on updates for resource/reserve, capital and operating cost estimates and financial model.
|
o |
Engineering design now at a mature stage requiring only minimal spend ahead of FID and
commencement of construction.
|
• |
Growth Opportunities
|
o |
Ioneer and Eco Pro expand existing partnership with MOU covering potential future development of the Rhyolite Ridge lithium clay resource (currently excluded from Project design and economics).
|
• |
Geotechnical drilling (complete)
|
• |
Updated geological model
|
• |
Updated resource/reserves including SK1300 technical report
|
• |
Updated capex/opex estimates
|
• |
Construction strategy and schedule
|
|
|
1. |
Bloodborne Pathogens Training
|
2. |
Safety Culture Training
|
3. |
Workplace Violence Training
|
4. |
MSHA/OSHA Program & Training Development
|
• |
Type 1 Mineralisation: Lithium with high boron and low clay content
|
|
• |
Type 2 Mineralisation: Lithium with high clay content
|
• |
Type 3 Mineralisation: Lithium with low boron and low clay content
|
|
• |
Advancing federal permitting through participation in the NEPA process in concurrence with the Section 7 ESA Consultation.
|
• |
Preparing for the DEIS public comments.
|
• |
Updated resource/reserve estimate including SK1300 technical report
|
• |
Updated Class II capex and opex estimates
|
• |
Continuing to close CP’s required for Sibanye’s FID and the DOE loan
|
• |
Evaluation of growth opportunities including leach testwork on low-boron non-clay mineralisation.
|
Milestone
|
Targeted timing5
|
||
Anticipated ROD
|
3Q 2024
|
||
Construction Period
|
24 Months
|
||
First Production
|
2026
|
• |
LME Week, 9-12 October.
|
• |
IMARC conference 2023, 31 October – 2 November.
|
• |
Bell Potter non-deal roadshow with institutional investors in Sydney, 23 November.
|
• |
Canaccord Genuity non-deal roadshow with institutional investors in Sydney, 6 November & New York 6 December.
|
1. |
ASX LR 5.3.1: Exploration and Evaluation Expenditure during the quarter was US$8.2 million. Details of the exploration activity are set out in this report. A breakdown of the expenditure is shown below:
|
Expenditure
|
US$’000
|
||
Exploration
|
-
|
||
Engineering
|
5,322
|
||
Environmental
|
1,662
|
||
Sales & Marketing
|
160
|
||
Other
|
1,026
|
||
Total
|
8,171
|
2. |
ASX LR 5.3.2: The Company confirms there were no production or development activities during the quarter.
|
3. |
ASX LR 5.3.5: Related party payments for the quarter totalled US$272,000, comprising salaries and fees for the Company’s executive and non-executive directors. No other payments were made to any related parties of
the entity or their associates.
|
4. |
ASX LR 5.3.3: INR confirms that it has not acquired tenements during the quarter (see appendix 1).
|
• |
2.1 billion ordinary shares
|
• |
2.9 million options, and
|
• |
34.5 million performance rights.
|
Chad Yeftich
Ioneer USA Corporation
|
Ian Bucknell
Ioneer Limited
|
Investor Relations (USA)
|
Investor Relations (AUS)
|
T: +1 775 993 8563
|
T: +61 434 567 155
|
E: ir@ioneer.com
|
E: ibucknell@ioneer.com
|
Date Released
|
Title
|
|
03/10/2023
|
Notification regarding unquoted securities - INR
|
|
03/10/2023
|
Application for quotation of securities - INR
|
|
30/10/2023
|
September 2023 – Quarterly Activities Report
|
|
30/10/2023
|
September 2023 – Quarterly Cash Flow Report
|
|
31/10/2023
|
Investor Presentation – IMARC Conference
|
|
01/11/2023
|
Partnership with EcoPro to bolster U.S. lithium production
|
|
02/11/2023
|
Expanded EcoPro partnership _ Further details
|
|
03/11/2023
|
2023 AGM – Chairman’s Address
|
|
03/11/2023
|
2023 AGM – Managing Director Presentation
|
|
03/11/2023
|
2023 AGM – Results of Meeting
|
|
13/11/2023
|
Application for quotation of securities - INR
|
|
13/11/2023
|
Notification of cessation of securities - INR
|
|
13/11/2023
|
Proposed issue of securities - INR
|
|
14/11/2023
|
Notification regarding unquoted securities - INR
|
|
14/11/2023
|
Notification regarding unquoted securities - INR
|
|
14/11/2023
|
Change of Director’s Interest Notice – Bernard Rowe
|
|
14/11/2023
|
Change of Director’s Interest Notice – Alan Davies
|
|
14/11/2023
|
Change of Director’s Interest Notice – James Calaway
|
|
14/11/2023
|
Change of Director’s Interest Notice – Margaret Walker
|
|
14/11/2023
|
Change of Director’s Interest Notice – Rose McKinney-James
|
|
14/11/2023
|
Change of Director’s Interest Notice – Stephen Gardiner
|
|
15/11/2023
|
Notification of cessation of securities - INR
|
|
20/11/2023
|
Response to ASX Query Letter
|
|
08/12/2023
|
Change of Director’s Interest Notice – Alan Davies
|
Country
|
Project
|
Tenement ID
|
Tenement Name
|
Area
(km2)
|
Interest at beginning of
quarter
|
Interest at end of quarter
|
Note
|
||||||||
USA
|
Rhyolite Ridge
|
NMC1118666
|
NLB claims (160)
|
13
|
100%
|
100%
|
No change
|
||||||||
USA
|
Rhyolite Ridge
|
NV106310781
|
NLB claims (41)
|
1.2
|
100%
|
100%
|
No change
|
||||||||
USA
|
Rhyolite Ridge
|
NMC1117360
|
SLB claims (199)
|
16.5
|
100%
|
100%
|
No change
|
||||||||
USA
|
Rhyolite Ridge
|
NMC1117360
|
SLB claims (18)
|
1.5
|
100%
|
100%
|
No change
|
||||||||
USA
|
Rhyolite Ridge
|
NMC1171536
|
SLM claims (122)
|
9.7
|
100%
|
100%
|
No change
|
||||||||
USA
|
Rhyolite Ridge
|
NMC 1179516
|
RR claims (65)
|
5.4
|
100%
|
100%
|
No change
|
||||||||
USA
|
Rhyolite Ridge
|
NMC 1179516
|
RR claims (14)
|
1.1
|
100%
|
100%
|
No change
|
||||||||
USA
|
Rhyolite Ridge
|
NMC 1129523
|
BH claims (81)
|
7
|
100%
|
100%
|
No change
|
||||||||
USA
|
Rhyolite Ridge
|
NV105272779
|
RMS claims (23)
|
0.5
|
100%
|
100%
|
No change
|
||||||||
USA
|
Rhyolite Ridge
|
NMC1147932
|
SLP claims (120)
|
9.7
|
100%
|
100%
|
No change
|
||||||||
USA
|
Rhyolite Ridge
|
NV105272053
|
PR claims (11)
|
0.9
|
100%
|
100%
|
No change
|
||||||||
USA
|
SM
|
NMC1166813
|
SM claims (96)
|
7.7
|
100%
|
100%
|
No change
|
||||||||
USA
|
GD
|
NMC1166909
|
GD claims (13)
|
1.1
|
100%
|
100%
|
No change
|
||||||||
USA
|
CLD
|
NMC1167799
|
CLD claims (65)
|
5.2
|
100%
|
100%
|
No change
|
Name of entity
|
|
ioneer Ltd
|
|
ABN
|
Quarter ended (“current quarter”)
|
76 098 564 606
|
December 2023
|
Consolidated statement of cash flows
|
Current quarter
$US’000
|
Year to date
(6 months)
$US’000
|
||
1.
|
Cash flows from operating activities
|
-
|
-
|
|
1.1
|
Receipts from customers
|
|||
1.2
|
Payments for
|
-
|
-
|
|
(a)
|
exploration & evaluation (if expensed) | |||
(b)
|
development |
-
|
-
|
|
(c)
|
production |
-
|
-
|
|
(d)
|
staff costs |
(1,627)
|
(1,737)
|
|
(e)
|
administration and corporate costs |
(813)
|
(3,593)
|
|
1.3
|
Dividends received (see note 3)
|
-
|
-
|
|
1.4
|
Interest received
|
358
|
883
|
|
1.5
|
Interest and other costs of finance paid
|
-
|
-
|
|
1.6
|
Income taxes paid
|
|||
1.7
|
Government grants and tax incentives
|
-
|
-
|
|
1.8
|
Other (provide details if material)
|
-
|
-
|
|
1.9
|
Net cash from / (used in) operating activities
|
(2,082)
|
(4,447)
|
|
2.
|
Cash flows from investing activities
|
-
|
-
|
|
2.1
|
Payments to acquire:
|
|||
(a)
|
entities | |||
(b)
|
tenements |
-
|
-
|
|
(c)
|
property, plant and equipment |
(3)
|
(3)
|
|
(d)
|
exploration & evaluation (if capitalised) |
(8,417)
|
(21,871)
|
|
(e)
|
investments |
-
|
-
|
|
(f)
|
other non-current assets |
-
|
-
|
Appendix 5B
|
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
|
Consolidated statement of cash flows |
Current quarter
$US’000
|
Year to date
(6 months)
$US’000
|
||
2.2
|
Proceeds from the disposal of:
|
-
|
-
|
|
(a)
|
entities | |||
(b)
|
tenements |
-
|
-
|
|
(c)
|
property, plant and equipment |
-
|
-
|
|
(d)
|
investments |
-
|
-
|
|
(e)
|
other non-current assets |
-
|
-
|
|
2.3
|
Cash flows from loans to other entities
|
-
|
-
|
|
2.4
|
Dividends received (see note 3)
|
-
|
-
|
|
2.5
|
Other (provide details if material)
|
-
|
-
|
|
2.6
|
Net cash from / (used in) investing activities
|
(8,420)
|
(21,874)
|
|
3.
|
Cash flows from financing activities
|
-
|
-
|
|
3.1
|
Proceeds from issues of equity securities (excluding convertible debt securities)
|
|||
3.2
|
Proceeds from issue of convertible debt securities
|
-
|
-
|
|
3.3
|
Proceeds from exercise of options
|
-
|
54
|
|
3.4
|
Transaction costs related to issues of equity securities or convertible debt securities
|
-
|
(9)
|
|
3.5
|
Proceeds from borrowings
|
-
|
-
|
|
3.6
|
Repayment of borrowings
|
-
|
-
|
|
3.7
|
Transaction costs related to loans and borrowings
|
-
|
-
|
|
3.8
|
Dividends paid
|
-
|
-
|
|
3.9
|
Other (provide details if material)
|
(29)
|
(65)
|
|
3.10
|
Net cash from / (used in) financing activities
|
(29)
|
(20)
|
|
4.
|
Net increase / (decrease) in cash and cash equivalents for the period
|
|||
4.1
|
Cash and cash equivalents at beginning of period
|
36,536
|
52,709
|
|
4.2
|
Net cash from / (used in) operating activities (item 1.9 above)
|
(2,082)
|
(4,447)
|
|
4.3
|
Net cash from / (used in) investing activities (item 2.6 above)
|
(8,420)
|
(21,874)
|
|
4.4
|
Net cash from / (used in) financing activities (item 3.10 above)
|
(29)
|
(20)
|
Appendix 5B
|
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
|
Consolidated statement of cash flows |
Current quarter
$US’000
|
Year to date
(6 months)
$US’000
|
|
4.5
|
Effect of movement in exchange rates on cash held
|
1,983
|
1,620
|
4.6
|
Cash and cash equivalents at end of period
|
27,988
|
27,988
|
5.
|
Reconciliation of cash and cash equivalents
at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts
|
Current quarter
$US’000
|
Previous quarter
$US’000
|
5.1
|
Bank balances
|
12,466
|
14,253
|
5.2
|
Call deposits
|
15,522
|
22,283
|
5.3
|
Bank overdrafts
|
-
|
-
|
5.4
|
Other (provide details)
|
||
5.5
|
Cash and cash equivalents at end of quarter (should equal item 4.6 above)
|
27,988
|
36,536
|
6.
|
Payments to related parties of the entity and their associates
|
Current quarter
$US'000
|
6.1
|
Aggregate amount of payments to related parties and their associates included in item 1
|
272
|
6.2
|
Aggregate amount of payments to related parties and their associates included in item 2
|
|
Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments
|
Appendix 5B
|
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
|
7.
|
Financing facilities
Note: the term “facility’ includes all forms of financing arrangements available to the entity.
Add notes as necessary for an understanding of the sources of finance available to the entity.
|
Total facility
amount at quarter
end
$US’000
|
Amount drawn at
quarter end
$US’000
|
7.1
|
Loan facilities
|
-
|
-
|
7.2
|
Credit standby arrangements
|
-
|
-
|
7.3
|
Other (please specify)
|
-
|
-
|
7.4
|
Total financing facilities
|
-
|
-
|
7.5
|
Unused financing facilities available at quarter end
|
-
|
|
7.6
|
Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional
financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well.
|
8.
|
Estimated cash available for future operating activities
|
$US’000
|
8.1
|
Net cash from / (used in) operating activities (Item 1.9)
|
(2,082)
|
8.2
|
Capitalised exploration & evaluation (Item 2.1(d))
|
(8,417)
|
8.3
|
Total relevant outgoings (Item 8.1 + Item 8.2)
|
(10,499)
|
8.4
|
Cash and cash equivalents at quarter end (Item 4.6)
|
27,988
|
8.5
|
Unused finance facilities available at quarter end (Item 7.5)
|
-
|
8.6
|
Total available funding (Item 8.4 + Item 8.5)
|
27,988
|
8.7
|
Estimated quarters of funding available (Item 8.6 divided by Item 8.3)
|
2.7
|
8.8
|
If Item 8.7 is less than 2 quarters, please provide answers to the following questions:
|
1.
|
Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not? | |
Answer: N/A
|
||
2.
|
Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful? | |
Answer: N/A
|
||
3.
|
Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis? | |
Answer: N/A
|
Appendix 5B
|
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
|
1 |
This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.
|
2 |
This statement gives a true and fair view of the matters disclosed.
|
30 January 2024 | ||
Date: |
Bernard Rowe – Managing Director
|
||
Authorised by: | ||
(Name of body or officer authorising release – see note 4) |
1. |
This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter, how they have been financed
and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so.
|
2. |
If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this
report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.
|
3. |
Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.
|
4. |
If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a
committee of your board of directors, you can insert here: “By the [name of board committee – eg Audit and Risk Committee]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”.
|
5. |
If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate
Governance Council’s Corporate Governance Principles and Recommendations, the board should have received a declaration from its CEO and CFO that, in their
opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been
formed on the basis of a sound system of risk management and internal control which is operating effectively.
|
ASX Listing Rules Appendix 5B (01/12/19)
|
Page 5
|
+ See chapter 19 of the ASX Listing Rules for defined terms.
|
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