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ioneer Highlights • • • Quarterly Activities Report for the period ending 31 March 2021 A $ 80 million fully underwritten institutional placement completed with strong demand from new and existing institutional investors , including large US and European investment groups Proceeds provide funding to accelerate the development of Rhyolite Ridge Lithium- Boron Project in Nevada Battery grade lithium hydroxide successfully produced from Rhyolite Ridge pilot plant feedstock with resultant product specifications provided to potential offtake partners Discussions progressing well on offtake agreements for various lithium products with first lithium offtake announcement expected in June quarter Strategic partnering and funding discussions advancing with short - listed parties US Bureau of Land Management ( BLM ) expected to publish Notice of Intent ( NOI ) in near term , with public scoping to begin immediately afterward Engineering work progressed with US $ 114-122 million in major work packages under negotiation MOU signed with Caterpillar Inc. following completion of autonomous haul truck feasibility study Board strengthened with appointments of US - based Rose McKinney - James and Margaret R. Walker as Independent Non - Executive Directors ioneer anticipates being construction ready from an engineering and financing perspective in late 2021 Monday , 26 April 2021 - Emerging American lithium - boron supplier , ioneer Ltd ( ioneer or the Company ) ( ASX : INR ) , is pleased to report on its activities for the quarter ending 31 March 2021 and to provide an update on the development of its 100 % -owned Rhyolite Ridge Lithium - Boron Project ( Rhyolite Ridge or the Project ) in Nevada , USA . ioneer Managing Director , Bernard Rowe said : “ The March quarter saw solid progress towards the advancement of the Rhyolite Ridge Project . Our strongly oversubscribed raising demonstrated belief in the quality of Rhyolite Ridge , and we thank new and existing investors for their support for the Company and the Project . Cornerstone investment was provided by BNP Paribas Energy Transition Fund , a European ESG - focused institution . Rhyolite Ridge remains the most advanced lithium project in North America and we are poised to take advantage of the ever - improving demand outlook for lithium and lithium products . We were extremely pleased to meet another milestone in the quarter in the conversion of lithium carbonate to battery grade lithium hydroxide at our Rhyolite Ridge Pilot Plant . This is a higher premium product and will be an important ioneer Ltd. ( ASX : INR ) Suite 5.03 , 140 Arthur Street , North Sydney , NSW 2060 T : +61 2 9922 5800 W : ioneer.com ABN : 76 098 564 606