Ioneer (INR) Q1 2027 TU earnings summary

Executive summary

• Strategic partnering remains on track to conclude in Q4 2026, with strong sustained interest; counterparty approval timelines extended the process.

• Rhyolite Ridge advanced toward FID through access-road engineering, resource and geotechnical drilling preparation, and a Tooele boron carbide plant pre-feasibility study.

• Cash of US$54.55 million at 30 September 2026 was described as sufficient through the partnering process, FID and early construction works.

Financial highlights

• Cash and cash equivalents totaled US$54.55 million at quarter-end; 96.0% was held in USD and the balance in AUD.

• Exploration and evaluation expenditure was US$2.673 million: engineering US$665,000, environmental US$635,000, other US$1.126 million, sales and marketing US$198,000, and exploration US$49,000.

• Related-party payments totaled US$354,899, comprising director salaries, fees and annual-leave payouts.

Outlook and guidance

• Strategic partnering is targeted for completion in Q4 2026; FID timing remains to be determined and depends on the partnering outcome and a refresh of project economics.

• Construction is estimated at circa 36 months, including long-lead items; access-road construction is planned to start before year-end.

• Upcoming work includes finalizing Hyundai Engineering procurement services, evaluating Korean suppliers, advancing Tooele permitting and completing test work on selected overburden units.