BUZZ-Australia's Ioneer gains on $996 mln loan grant for Nevada project

Reuters

Jan 20, 2025

** Shares of Ioneer rise 20.6% to A$0.205, their biggest intraday pct gain since late-August 2024

** The lithium-boron producer announced the close of a $996 mln (A$1.60 bln) loan from the U.S. Department of Energy (DOE)

** Loan to support the development of an on-site processing facility at the Rhyolite Ridge Lithium-Boron Project in Nevada, U.S., says Ioneer

** About 11.9 mln shares change hands, 3.3 times vs the 30-day average of 3.9 mln

** INR stock rose as much as 29.4% earlier in the day, hitting its highest level since early Dec, 2024

** Stock gained 6.7% in 2024

(1 Australian dollar = $0.6213)

(Reporting by Manasi Dasa Sundeep in Bengaluru)

((Manasi.DasaSundeep@thomsonreuters.com;))

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