ioneer Ltd (NASDAQ:IONR) is one of the 7 Best ASX Stocks to Buy Now. On June 26, ioneer Ltd (NASDAQ:IONR) announced the formal beginning of the strategic partnering process. This is expected to take a minimum of 4 months. After the completion of recent critical work, which includes a major ore reserve upgrade and updated Project economics, the company launched a formal strategic partnering process. This is to identify an equity partner who can help in accelerating the development of Rhyolite Ridge and advancing the Project into production.
A miner hard at work, extracting raw lithium from a mineral resource.
ioneer Ltd (NASDAQ:IONR) stated that the Rhyolite Ridge Project happens to be unique in the global lithium and boron sectors, and possesses a strong and resilient project economics with all-in sustaining costs anticipated to be in the lowest quartile of the global lithium cost curve. Furthermore, the key characteristics include the dual revenue from lithium (75%) and boron (25%), and the unique lithium-boron deposit, which allows for the production of high-purity chemicals at the mine site.
ioneer Ltd (NASDAQ:IONR) has also announced a non-underwritten share purchase plan, aiming to garner up to ~A$5.0 million. This follows the company’s successful completion of ~A$25 million institutional placement to eligible sophisticated and institutional investors. The consensus price target of ioneer Ltd (NASDAQ:IONR)’s stock stood at $5.68.
While we acknowledge the potential of IONR to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than IONR and that has 100x upside potential, check out our report about this cheapest AI stock.
READ NEXT: 13 Cheap AI Stocks to Buy According to Analysts and 11 Unstoppable Growth Stocks to Invest in Now
Disclosure: None.
