Australia's Jindalee Lithium surges to 17-month high on talks to spin-off US unit

Jindalee Lithium

09/09/2025 04:16

** Jindalee Lithium JLL.AX surges as much as 81.3% to A$0.725; marks biggest percent gain since April 9, 2021

** Stock hits highest since April 8, 2024

** Lithium explorer signs letter of intent with U.S.-based Constellation Acquisition Corp I to form combined entity with co's U.S. unit, HiTech Minerals

** Says LOI to list HiTech-owned Oregon-based McDermitt Lithium Project in U.S.

** Co to receive 50 mln shares in new company at $10/share, assigning equity value of $500 million to Jindal's U.S. assets

** Deal may include capital raise of $20 mln-$30 mln

** Stock sees busiest session since April 22, with ~1.7 mln shares traded - ~25x the 30-day avg

** JLL last up 41.3%; surges 156.8% YTD

 (Reporting by Keshav Singh Chundawat in Bengaluru)

 ((Keshav.SinghChundawat@thomsonreuters.com))