Australia's Ioneer gains on $996 mln loan grant for Nevada project

Ioneer

20/01/2025 04:39

** Shares of Ioneer  INR.AX  rise 20.6% to A$0.205, their
biggest intraday pct gain since late-August 2024
    ** The lithium-boron producer announced the close of a $996
mln (A$1.60 bln) loan from the U.S. Department of Energy (DOE) 
    ** Loan to support the development of an on-site processing
facility at the Rhyolite Ridge Lithium-Boron Project in Nevada,
U.S., says Ioneer 
    ** About 11.9 mln shares change hands, 3.3 times vs the
30-day average of 3.9 mln
    ** INR stock rose as much as 29.4% earlier in the day,
hitting its highest level since early Dec, 2024
    ** Stock gained 6.7% in 2024

    (1 Australian dollar = $0.6213)

 (Reporting by Manasi Dasa Sundeep in Bengaluru)
 ((Manasi.DasaSundeep@thomsonreuters.com;))