2357 GMT - Ioneer's US$50 million capital raise caught Ord Minnett off guard. Still, the bank isn't changing its A$0.40/share price target as the raising likely just brings forward funding that would have been needed anyway. Ioneer said the raising puts it in a strong financial position to complete the strategic partnering process for its Rhyolite Ridge Lithium-Boron Project. It also gives it headroom to make a final investment decision and start early construction work. "The raise took us by surprise, as we considered Ioneer would wait until the strategic partnering process was complete before raising funds to start 'construction'," says analyst Matthew Hope. Ioneer is up 3.2% at A$0.16. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 02, 2026 18:57 ET (23:57 GMT)
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