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Iondrive Limited (ASX:ION)

ALERT: Price-sensitive ASX Announcement for ION
Current share price for ION : $0.040 -0.01 (-20%)+
Announcement
Release
21 Oct 2025 9:14AM
Price at Release
$0.050
Full Release
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Summary
Iondrive Limited has entered into a Binding Term Sheet with LAT66 Limited to apply its proprietary Deep Eutectic Solvent (DES) technology to LAT66's cobalt-rich concentrates in Finland. This initiative marks the first application of Iondrive's DES platform on virgin mining concentrates, extending its use beyond recycling e-waste and batteries. The collaboration aims to demonstrate DES technology's ability to efficiently process complex materials and support the European critical minerals supply chain. The agreement includes providing concentrate samples for testing and evaluation, which will contribute to feasibility studies for future production. Both companies will work towards commercial agreements over the next two years, with Iondrive retaining the intellectual property of the DES technology.
Key Points
  • Iondrive Limited signs a Binding Term Sheet with LAT66 Limited.
  • Application of DES technology to LAT66’s cobalt concentrates in Finland.
  • First deployment of DES on virgin mining concentrates.
  • DES technology demonstrated 98.6% cobalt recovery from black mass.
  • Collaboration supports the European critical minerals supply chain.
  • Intellectual property rights remain with Iondrive for DES technology.
  • Parties aim to formalize commercial agreements within 24 months.
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.