Ioneer (INR) Q3 2026 TU earnings summary

Executive summary

• Completed a US$50 million (A$72 million) equity raise, strengthening financial position and supporting project acceleration.

• Rhyolite Ridge project fully permitted and shovel-ready, with strategic partnering process ongoing and expected to conclude by end of June quarter.

• U.S. District Court upheld federal permit for Rhyolite Ridge; appeal filed but not expected to delay construction.

• Technical report filed, reflecting improved project economics due to reduced leach duration.

Financial highlights

• Total cash and cash equivalents as of 31 March 2026: US$43.99 million, with 82.5% held in USD.

• Equity raise issued 400 million new shares at A$0.18 (US$0.13) per share.

• Exploration and evaluation expenditure during the quarter was US$2.05 million.

• Related party payments for the quarter totaled US$275,177 (executive and non-executive directors' salaries and fees).

Outlook and guidance

• Strategic partnering process expected to conclude by end of June quarter 2026.

• Final Investment Decision timing to be determined, dependent on strategic partner outcome.

• Construction estimated to take approximately 36 months once commenced.

• Upcoming work includes finalizing strategic partner, FID, and preparing for construction.