Business
Why the Ioneer (ASX:INR) share price is on watch today
The Ioneer Ltd (ASX: INR) share price is one to watch this morning after a pre-market update from the Aussie miner.
Why is the Ioneer share price on watch?
Shares in the Aussie mining group are worth watching after its latest quarterly update. That included a cash flow and activities update for the period ended 31 March 2021 (Q3 2021).
Ioneer reported “solid progress” in its cornerstone Rhylite Ridge Project as it recorded a $1.31 million net operating cash flow loss. A number of US and European institutional investors backed an $80 million placement during the quarter. The Ioneer share price rocketed higher during the period despite tumbling after the 38 cents per share placement.
The proceeds from that capital raise provide…
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