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Iondrive Limited (ASX:ION)

ALERT: Price-sensitive ASX Announcement for ION
Current share price for ION : $0.029 0.005 (20.83%)+
Announcement
Release
29 Apr 2026 9:54AM
Price at Release
$0.024
Full Release
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Summary
Iondrive Limited has made significant strides in the quarter ending March 31, 2026, with advancements in their IONSolv™ platform for silver and rare earth extraction and expansion efforts into the U.S. market. The company has a strong financial position with a cash balance of ~$8 million and anticipates over $2.4 million in non-dilutive funding inflows. Leadership changes and the divestment of the South Korean exploration business are aimed at focusing resources on the IONSolv™ platform's commercialization. The quarterly report also highlights the company's cash flow activities, showing net cash outflows of $0.4 million, and the ongoing pilot plant optimization for processing different feedstocks.
Key Points
  • IONSolv™ platform showing promising results in silver and rare earth extraction.
  • Iondrive Ltd has a cash balance of ~$8 million as of the end of the quarter.
  • Expected cash inflows of over $2.4 million in the next two quarters from non-dilutive funding.
  • Company is progressing with U.S market entry and applications for grants.
  • Leadership changes with the appointment of Lewis Utting as CEO.
  • The company reported net cash outflows of $0.4 million for the quarter.
  • Divestment of the exploration business in South Korea was completed.
  • Pilot plant optimization for multi-feedstock capability is underway.
  • Focus on commercialization of IONSolv™ technology across solar panel recycling.
  • Appendix 4C Cash Flow Report providing detailed financial transactions.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.