Why the Ioneer (ASX:INR) share price is in limbo today

The Ioneer (ASX: INR) share price is staying put today following the company’s entrance into a trading halt. Let’s have a look.
The post Why the Ioneer (ASX:INR) share price is in limbo today appeared first on The Motley Fool Australia. –

A man on a phone call points his finger, indicating a halt in trading on the ASX share market

The Ioneer Ltd (ASX: INR) share price is in limbo today after the company asked for a trading halt pending an announcement.

At yesterday’s market close, the Ioneer share price was trading at 44 cents. 

The trading halt will conclude on Friday 5 March or once the announcement is released to the market.

Ioneer positions for capital raising

The mineral exploration company today advised that it is positioning to release a capital raising announcement. 

This follows its 16 February announcement that it had joined forces with construction giant Caterpillar Inc (NYSE: CAT). 

Caterpillar is one of the world’s largest construction and mining equipment manufacturers.

The 2 companies entered a memorandum of understanding (MoU) that Ioneer will use Caterpillar’s Cat® Command for hauling, Autonomous Haul System (AHS). This will improve operator safety, equipment utilisation
and site productivity.

The company will use AHS at its Rhyolite Ridge lithium-boron project based in Nevada, US – the first greenfield operation to use the system in North America.

Starting in 2023, Ioneer will initiate operations with a fleet of Cat® 785 Next Generation trucks equipped with Cat® Command.

With the truck purchase in sight, Ioneer seems on the move to have the funds in place in order to take the next steps.

What else is coming up for Ioneer?

According to Ioneer’s December quarterly update, the company is continuing its engineering efforts at the Rhyolite Ridge project. In addition, negotiations are underway for the first lithium offtake sales.

The update concluded that looking ahead, Ioneer would be, “further advancing strategic partnering and financing process through continued technical and financial discussions”.

The forthcoming capital raising announcement will provide more colour to the market about how these activities are being carried out.

Ioneer share price snapshot

The Ioneer share price has rocketed 319% over the past 6 months.

Ioneer has a market capitalisation of $733.4 million, and there are presently 1.7 billion shares outstanding.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Motley Fool contributor Gretchen Kennedy has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why the Ioneer (ASX:INR) share price is in limbo today appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!