Jindalee Lithium (JLL) has made significant strides in advancing its McDermitt Lithium Project in the United States, as highlighted in its latest quarterly activities report. The company successfully released the Environmental Assessment (EA) for public comment, a crucial step in the permitting process. Jindalee also engaged corporate advisors to accelerate the partnering process for the McDermitt project, targeting long-term collaborations to support pre-development activities. These partnerships aim to technically and commercially de-risk the project, paving the way for future development financing.
Jindalee raised $2.75 million through the sale of a non-core asset, which will help fund activities at McDermitt. The company also highlighted the increasing support from the US Government, particularly through the FAST-41 initiative, which designates McDermitt as a Transparency Project, enhancing interagency coordination and improving permitting visibility. This designation is expected to boost confidence among funding and strategic partners. Furthermore, Jindalee’s Cooperative Research and Development Agreement (CRADA) with the Department of Energy (DoE) is progressing, focusing on innovative extraction methods to lower costs and minimize environmental impact. The company’s application for non-dilutive grant funding from the US Department of Defense (DoD) remains under consideration.
The report notes the increasing global demand for lithium-ion batteries, driven by a 29% year-to-date rise in electric vehicle (EV) sales and a surge in Battery Energy Storage Systems (BESS) deployment. Despite fluctuations in lithium carbonate prices, which hovered around US$10,000/t at the end of the quarter, the long-term outlook for lithium demand remains strong. Recent developments in other US lithium projects, such as Ioneer’s Rhyolite Ridge and Lithium Americas’ Thacker Pass, underscore the country’s commitment to securing domestic critical mineral supply chains. On the corporate front, Jindalee appointed Todd Clewett as Senior Advisor – External Affairs, based in Washington DC, to strengthen engagement with US Government and key stakeholders. Exploration and evaluation expenditure for the period was $158,000, dominated by McDermitt. Jindalee has approximately $4.0M in cash and listed securities.
