0043 GMT - New progress in Ioneer's search for partners for its Rhyolite Ridge lithium-boron project in the U.S. encourages its bull at Ord Minnett. Still, analyst Matthew Hope continues to expect Ioneer will need to raise US$270 million of equity to fund its share of project capex. Ioneer this week said it has agreed to Letters of Intent with Korea Overseas Infrastructure and Urban Development Corp. and Hyundai Engineering. Both LOIs are non-binding. "The update is a step in the right direction," says Ord Minnett. "However, in the absence of detailed commercial terms, we maintain our target price of 40 Australian cents per share, and our speculative buy recommendation." Ioneer is up 1.7% at 15.25 Australian cents. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
June 23, 2026 20:43 ET (00:43 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.