Jindalee soars on major lithium move

JINDALEE Resources’ move into the US lithium space appears to be just what investors want, with shares in the tightly-held explorer surging some 43% in afternoon trade as it made a bigger splash in the US domestic lithium market pegging ground along the Nevada-Oregon border.

The company's shares hit A30c in afternoon trade, a level not seen since 2011, valuing it at $10.4 million.
 
Lithium has been declared a critical mineral by one of US president Donald Trump's innumerable executive orders, because the US has a single lithium operation, Albermarle's Silver Peak, and facilities building batteries like Tesla's Gigafactory need to import the bulk of their requirements.
 
The company's new 20sq.km McDermitt project covers some 20sq.km, and is several times larger than the Clayton North project.
 
Jindalee, which generated and pegged both projects, has completed composite channel samples and shallow drilling and has reported grades up to 3020 parts per million compared...

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