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Jindalee Lithium Limited (ASX:JLL)

ALERT: Price-sensitive ASX Announcement for JLL
Current share price for JLL : $0.330 -0.215 (-39.45%)+
Announcement
Release
31 Oct 2025 9:01AM
Price at Release
$0.545
Full Release
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Summary
Jindalee Lithium Limited's Quarterly Activities Report for September 2025 highlights significant developments at the McDermitt Lithium Project, one of the largest lithium resources in the US. The report outlines the progress in securing funding and strategic partnerships, including a proposed SPAC transaction aimed at raising US$20-30 million and listing McDermitt on a US exchange with an equity value of US$500 million. Jindalee also initiated a value optimization program to explore high-value magnesium by-products, enhancing the project's potential as a dual-product source of lithium and magnesium. The company is actively engaging with the US government for grant funding and has signed a non-binding LOI with Constellation Acquisition Corp. I for a merger to form a new entity, NewCo, which will be listed in the US. Financial activities in the quarter included raising $8 million through a placement to investors and entering into a term sheet with L1 Capital for an equity line of credit up to US$100 million. The appointment of Tristan Garthe as the new CFO was also announced.
Key Points
  • McDermitt Lithium Project designated as a FAST-41 Transparency Project.
  • Non-binding LOI with SPAC to raise US$20-30M, listing on a US exchange.
  • Value optimization program for magnesium by-products at McDermitt.
  • US government support and strategic partnerships being pursued.
  • Capital raising of $8 million and proposed equity line of credit of up to US$100M.
  • Appointment of Tristan Garthe as Chief Financial Officer.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.