<SEC-DOCUMENT>0001140361-23-001573.txt : 20230113
<SEC-HEADER>0001140361-23-001573.hdr.sgml : 20230113
<ACCEPTANCE-DATETIME>20230113112847
ACCESSION NUMBER:		0001140361-23-001573
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20230113
FILED AS OF DATE:		20230113
DATE AS OF CHANGE:		20230113

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ioneer Ltd
		CENTRAL INDEX KEY:			0001896084
		STANDARD INDUSTRIAL CLASSIFICATION:	MINING, QUARRYING OF NONMETALLIC MINERALS (NO FUELS) [1400]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			C3
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-41412
		FILM NUMBER:		23527766

	BUSINESS ADDRESS:	
		STREET 1:		140 ARTHUR STREET
		STREET 2:		SUITE 5.03, LEVEL 5
		CITY:			NORTH SYDNEY
		STATE:			C3
		ZIP:			NSW 2060
		BUSINESS PHONE:		61(2)99225800

	MAIL ADDRESS:	
		STREET 1:		140 ARTHUR STREET
		STREET 2:		SUITE 5.03, LEVEL 5
		CITY:			NORTH SYDNEY
		STATE:			C3
		ZIP:			NSW 2060
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>brhc10046633_6k.htm
<DESCRIPTION>6-K
<TEXT>
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    <div style="text-align: center; font-size: 14pt; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">Washington, D.C. 20549</div>
    <div style="text-align: center; font-weight: bold;"> <br>
    </div>
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      <hr noshade="noshade" align="center" style="height: 2px; width: 20%; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;"></div>
    <div style="text-align: center; font-size: 18pt; font-weight: bold;">FORM 6-K</div>
    <div style="text-align: center; font-weight: bold;">
      <hr noshade="noshade" align="center" style="height: 2px; width: 20%; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;"></div>
    <div style="text-align: center; font-size: 12pt;"><font style="font-size: 10pt; font-weight: bold;"> <br>
      </font></div>
    <div style="text-align: center; font-size: 12pt;"><font style="font-size: 10pt; font-weight: bold;">REPORT OF FOREIGN PRIVATE ISSUER</font><font style="font-size: 10pt;">&#160;</font><font style="font-size: 10pt; font-weight: bold;">PURSUANT TO RULE 13A-16
        OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934</font></div>
    <div>&#160;</div>
    <div style="text-align: center;">For the month of January 2023</div>
    <div>&#160;</div>
    <div style="text-align: center;">Commission File Number: 001-41412</div>
    <div>&#160;
      <hr noshade="noshade" align="center" style="height: 2px; width: 20%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
    <div style="text-align: center; font-size: 24pt; font-weight: bold;">ioneer Ltd</div>
    <div style="text-align: center;">(Translation of registrant&#8217;s name into English)</div>
    <div style="text-align: center;"> <br>
    </div>
    <div>
      <hr noshade="noshade" align="center" style="height: 2px; width: 20%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
      <div> <br>
      </div>
    </div>
    <div style="text-align: center; font-weight: bold;">Suite 5.03, Level 5, 140 Arthur Street</div>
    <div style="text-align: center; font-weight: bold;">North Sydney, NSW 2060, Australia</div>
    <div style="text-align: center;">(Address of principal executive offices)</div>
    <div style="text-align: center;"> <br>
    </div>
    <div style="text-align: center; font-weight: bold;">
      <hr noshade="noshade" align="center" style="height: 2px; width: 25%; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;"></div>
    <div>&#160;</div>
    <div>Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40&#8209;F.</div>
    <div><br>
    </div>
    <div>Form 20-F&#160; &#9746;&#160; &#160; Form 40-F&#160; &#9744;</div>
    <div><br>
    </div>
    <div>Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): &#9744;</div>
    <div><br>
    </div>
    <div>Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): &#9744;</div>
    <div><br>
    </div>
    <div>
      <hr align="center" style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"></div>
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    <div style="text-align: center; font-weight: bold;">EXHIBIT INDEX</div>
    <div>The following exhibits are filed as part of this Form 6-K:</div>
    <div><br>
    </div>
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              <div style="text-align: left;">Exhibit</div>
            </td>
            <td rowspan="1" style="width: 2%; padding-bottom: 2px;">&#160;</td>
            <td rowspan="1" style="width: 88%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: left;">Description</div>
            </td>
          </tr>
          <tr>
            <td rowspan="1" style="width: 10%;"><a href="brhc10046633_ex99-1.htm">99.1</a></td>
            <td rowspan="1" style="width: 2%;">&#160;</td>
            <td rowspan="1" style="width: 88%;">Press Release<br>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
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    <div style="text-align: center; font-weight: bold;">SIGNATURE</div>
    <div><br>
    </div>
    <div>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</div>
    <div><br>
    </div>
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          <td style="width: 50%; vertical-align: bottom;">&#160;</td>
          <td rowspan="1" style="vertical-align: bottom; width: 50%;">
            <div><u>ioneer Ltd</u></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: bottom;">&#160;</td>
          <td rowspan="1" style="vertical-align: bottom; width: 50%;">
            <div>(registrant)</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 50%; vertical-align: bottom;">&#160;</td>
          <td rowspan="1" style="vertical-align: bottom; width: 50%;">&#160;</td>
        </tr>

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          <td style="width: 50%; vertical-align: bottom;">
            <div>Date: January 13, 2023</div>
          </td>
          <td colspan="1" style="width: 3%; vertical-align: bottom;">By: </td>
          <td style="width: 47%; vertical-align: bottom;">
            <div><u>/s/ Ian Bucknell</u></div>
          </td>
        </tr>

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    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

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          <td style="width: 50%; vertical-align: bottom;">&#160;</td>
          <td colspan="1" style="width: 5%; vertical-align: bottom;">Name: <br>
          </td>
          <td style="width: 45%; vertical-align: bottom;">
            <div style="margin-left: 9pt;">Ian Bucknell</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: bottom;">&#160;</td>
          <td colspan="1" style="width: 5%; vertical-align: bottom;">Title:<br>
          </td>
          <td style="width: 45%; vertical-align: bottom;">
            <div style="text-indent: -36pt; margin-left: 45pt;">Chief Financial Officer &amp; Company Secretary</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>&#160;
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>brhc10046633_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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  <div style="color: rgb(0, 0, 0); text-align: right;"><font style="font-weight: bold;">Exhibit 99.1</font><br>
  </div>
  <div><br>
    <div>
      <div style="color: rgb(0, 0, 0); font-weight: bold;"><img src="image00002.jpg">
        <div><br>
        </div>
        <div style="text-align: center;">U.S. Department of Energy Offers Conditional Commitment for a Loan of Up to US$700 Million for the Rhyolite Ridge Project</div>
      </div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
    </div>
    <div style="text-align: justify; margin-right: 10.8pt; font-weight: bold; color: rgb(0, 0, 0);">Highlights:</div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div>
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            <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify; color: rgb(0, 0, 0);">
              <div>The Conditional Commitment<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> from the U.S. Department of Energy follows finalisation of a term sheet with the DOE for a proposed loan of up to US$700 million to develop the Rhyolite Ridge Lithium-Boron Project</div>
            </td>
          </tr>

      </table>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z735a772f2abc4cc2b724f5035b43b266" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 15.1pt; color: rgb(0, 0, 0);"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify; color: rgb(0, 0, 0);">
              <div>The proposed loan is to be made under the DOE Loan Programs Office&#8217;s Advanced Technology Vehicles Manufacturing program for a term of approximately 10 years with an interest rate fixed from the date of each advance for the term of the
                loan at applicable U.S. Treasury rates</div>
            </td>
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      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z1c2bd25db86e4771a1cd10e3e9ceacd5" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            </td>
            <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify; color: rgb(0, 0, 0);">
              <div>The Conditional Commitment follows nearly two years of extensive and detailed technical, legal, and market due diligence by the DOE</div>
            </td>
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      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z0d478b1af9bc464fa9bbc48f92e68d2e" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 15.1pt; color: rgb(0, 0, 0);"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify; color: rgb(0, 0, 0);">
              <div>The proposed DOE loan coupled with Sibanye-Stillwater&#8217;s expected equity contribution to secure a 50% interest in the Project, is anticipated to fund a substantial part of the preliminary capital expenditure estimate<font style="font-style: italic;">,</font> representing a significant step towards a complete funding package for Rhyolite Ridge</div>
            </td>
          </tr>

      </table>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="zc18b07031c364f7da42eae5a6597f85f" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 15.1pt; color: rgb(0, 0, 0);"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify; color: rgb(0, 0, 0);">
              <div>The DOE&#8217;s conditional commitment reflects continued strong and dedicated support under the Biden Administration to develop a U.S. domestic EV supply chain</div>
            </td>
          </tr>

      </table>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z049cc5af0d204c77819e42a10a08b5a3" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 15.1pt; color: rgb(0, 0, 0);"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify; color: rgb(0, 0, 0);">
              <div>Financial close of the loan is conditional on several achievements including a positive Record of Decision and Final Investment Decision</div>
            </td>
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      </table>
      <div style="color: rgb(0, 0, 0);"><br>
      </div>
    </div>
    <table cellspacing="0" cellpadding="0" id="zf97282c5c0454d9798c49367ed9051e4" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 15.1pt; color: rgb(0, 0, 0);"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">&#8226;</td>
          <td style="width: auto; vertical-align: top; text-align: justify; color: rgb(0, 0, 0);">
            <div>Rhyolite Ridge is the most advanced undeveloped U.S. lithium project, and it is on track to provide an environmentally sustainable, long-life source of both lithium and boron for delivery into the U.S. domestic EV supply chain</div>
          </td>
        </tr>

    </table>
    <div style="color: rgb(0, 0, 0);"><br>
    </div>
    <div style="text-align: justify; font-size: 11pt;"><font style="font-size: 10pt; font-weight: bold; color: rgb(0, 0, 0);">Friday, 13 January 2023</font><font style="font-size: 10pt; color: rgb(0, 0, 0);"> &#8211; <font style="font-weight: bold;">ioneer Ltd
          (&#8220;Ioneer&#8221; or the &#8220;Company&#8221;) (ASX: INR, Nasdaq: IONR)</font> is pleased to announce finalisation of a term sheet and offer of a Conditional Commitment<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> for a proposed loan of up to US$700 million from the U.S. Department of Energy (DOE)
        Loan Programs Office for financing the construction of the Rhyolite Ridge Lithium-Boron Project in Nevada, USA.</font></div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">Under the term sheet, the proposed loan is for an amount up to US$700 million<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup> with a term of approximately 10 years. The loan will be at an interest rate fixed from the date of each
      advance for the term of the loan at applicable U.S. Treasury rates.</div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="color: rgb(0, 0, 0);"> <br>
    </div>
    <font style="color: rgb(0, 0, 0);"> </font>
    <hr noshade="noshade" align="left" style="background-color: #000000; border-bottom: 0px none; border-left: 0px none; border-right: 0px none; border-top: 0px none; margin: 0px auto 0px 0px; height: 2px; width: 20%; color: #000000;">
    <div style="color: rgb(0, 0, 0); text-align: justify;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;A conditional commitment is offered by DOE prior to issuing a loan and indicates that DOE expects to support the Rhyolite Ridge Project, subject to the satisfaction of certain
      conditions including fulfilling remaining legal, contractual, and financial requirements.</div>
    <div style="color: rgb(0, 0, 0); text-align: justify;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup>&#160;Excludes estimated capitalised interest costs. Approximately US$700 million in advances from DOE loan is proposed to be available to fund eligible costs of the Rhyolite Ridge Project.</div>
    <div style="color: rgb(0, 0, 0);">
      <div><br>
      </div>
      <div><br>
      </div>
      <br>
      <div style="color: rgb(0, 0, 0);">
        <table cellspacing="0" cellpadding="0" border="0" id="zb2234f151c714d93aee606b14e804cde" style="font-family: 'Times New Roman'; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 26%; font-size: 8pt;"><font style="font-weight: bold;">Ioneer Ltd. (ASX: INR, Nasdaq: IONR) <br>
                </font></td>
              <td style="width: 35%; font-size: 8pt; text-align: center;">Suite 5.03, 140 Arthur Street, North Sydney, NSW 2060</td>
              <td style="width: 13%; font-size: 8pt; text-align: center;"><font style="font-weight: bold;">T:</font> +61 2 9922 5800</td>
              <td style="width: 13%; font-size: 8pt; text-align: center;"><font style="font-weight: bold;">W:</font> Ioneer.com</td>
              <td style="width: 13%; font-size: 8pt; text-align: center;"> <font style="font-weight: bold;">ABN</font>: 76 098 564 606</td>
            </tr>

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        <div style="text-align: center;"><img src="image00001.jpg"></div>
      </div>
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    <div style="text-align: justify; color: rgb(0, 0, 0);">The proposed loan is to be made under the DOE&#8217;s Advanced Technology Vehicles Manufacturing (ATVM) loan program in support of the Biden Administration&#8217;s critical minerals strategy. DOE has over
      US$50.0 billion in remaining loan authority under the ATVM program to support the manufacture of eligible advanced technology vehicles including electric vehicles (EVs), and qualifying components and materials, in the United States. Domestic
      processing of critical minerals, such as lithium, for use in EV batteries qualifies for the ATVM loan program<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup>.</div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">After commencing pre-application discussions in February 2021 regarding the DOE&#8217;s ATVM loan program, Ioneer submitted an application in October 2021. The application was deemed substantially
      complete in December 2021 which initiated a third-party due diligence process that has been ongoing since March 2022. The Loan Programs Office has undertaken extensive and detailed market, technical and legal due diligence on both Ioneer and the
      Rhyolite Ridge Project. The Conditional Commitment is based on a revised Plan of Operations submitted by Ioneer to the U.S. Bureau of Land Management (BLM), now in the National Environmental Policy Act (NEPA) process, which completely avoids all
      direct impact and minimises indirect impact on Tiehm&#8217;s buckwheat.</div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">Rhyolite Ridge is the most advanced undeveloped U.S. lithium project, and it is on track to provide an environmentally sustainable, long-life source of both lithium and boron for delivery into the
      U.S. domestic EV supply chain.</div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">The term sheet and Conditional Commitment<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#160;</sup>from DOE demonstrates its strong support for the Rhyolite Ridge Project and, if finalised, the loan would be the first-ever by the DOE to
      provide financing for the processing component of a project where lithium is extracted and refined at site.</div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">The proceeds from the DOE loan, along with Sibanye Stillwater Limited&#8217;s (&#8220;Sibanye-Stillwater&#8221;) expected equity contribution to secure a 50% stake in the Rhyolite Ridge Project once all conditions
      precedent for the joint venture have been fulfilled or waived, as applicable, are anticipated to fund a substantial part of the preliminary capital expenditure estimate from the revised plan of operations included in the application submitted to the
      DOE. Finalising the term sheet and receiving the Conditional Commitment from the DOE represent a significant step towards completing the funding for the Rhyolite Ridge Project.</div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">The proposed loan amount is necessarily based on preliminary and partially complete information that the DOE required from Ioneer pertaining to: 1) capital expenditure for a conceptual mine plan;
      2) macroeconomic cost escalation assumptions; and 3) capital expenses to meet DOE stipulated requirements for participation in the ATVM program. As a result, the proposed loan amount remains subject to negotiation and documentation of long-form
      agreements and various conditions and may be subsequently revised to appropriately match updated project economics leading up to financial close and upon satisfaction of several conditions, including:</div>
    <br>
    <div style="color: rgb(0, 0, 0);"></div>
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          <td style="width: 18pt; color: rgb(0, 0, 0);"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">&#8226;</td>
          <td style="width: auto; vertical-align: top; text-align: justify; color: rgb(0, 0, 0);">
            <div>Positive Record of Decision (ROD) issued by the BLM;</div>
          </td>
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    </table>
    <table cellspacing="0" cellpadding="0" id="z384c7898f8c4413b82bad2343efe95dd" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 18pt; color: rgb(0, 0, 0);"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">&#8226;</td>
          <td style="width: auto; vertical-align: top; color: rgb(0, 0, 0);">
            <div>Updated cost estimate including a P85 cost contingency<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">4</sup>;</div>
          </td>
        </tr>

    </table>
    <div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <div style="color: rgb(0, 0, 0);"> <br>
      </div>
      <font style="color: rgb(0, 0, 0);"> </font>
      <hr noshade="noshade" align="left" style="background-color: #000000; border-bottom: 0px none; border-left: 0px none; border-right: 0px none; border-top: 0px none; margin: 0px auto 0px 0px; height: 2px; width: 20%; color: #000000;">
      <div style="color: rgb(0, 0, 0); text-align: justify;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup> Further information about the ATVM loan program is available at <u> https://www.energy.gov/lpo/advanced-technology-vehicles-manufacturing-loan-program.</u></div>
      <div style="color: rgb(0, 0, 0);">
        <div style="color: rgb(0, 0, 0); text-align: justify;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">4</sup> A cost contingency to the base estimate to achieve a probability at the 85<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> percentile.</div>
        <div style="color: rgb(0, 0, 0);"> <br>
        </div>
        <div style="color: rgb(0, 0, 0);">
          <div style="color: rgb(0, 0, 0);">
            <div><br>
            </div>
            <br>
            <div style="color: rgb(0, 0, 0);">
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                    <td style="width: 26%; font-size: 8pt;"><font style="font-weight: bold;">Ioneer Ltd. (ASX: INR, Nasdaq: IONR) <br>
                      </font></td>
                    <td style="width: 35%; font-size: 8pt; text-align: center;">Suite 5.03, 140 Arthur Street, North Sydney, NSW 2060</td>
                    <td style="width: 13%; font-size: 8pt; text-align: center;"><font style="font-weight: bold;">T:</font> +61 2 9922 5800</td>
                    <td style="width: 13%; font-size: 8pt; text-align: center;"><font style="font-weight: bold;">W:</font> Ioneer.com</td>
                    <td style="width: 13%; font-size: 8pt; text-align: center;"> <font style="font-weight: bold;">ABN</font>: 76 098 564 606</td>
                  </tr>

              </table>
              <div style="text-align: center;"><img src="image00001.jpg"></div>
            </div>
          </div>
        </div>
      </div>
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          <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">&#8226;</td>
          <td style="width: auto; vertical-align: top; color: rgb(0, 0, 0);">
            <div style="text-align: justify;">Updated Resource and Reserve statements and mine plan incorporating the southern extension to the deposit;</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" id="zcf003b11e99041849c95968e8ef12c81" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 18pt; color: rgb(0, 0, 0);"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">&#8226;</td>
          <td style="width: auto; vertical-align: top; color: rgb(0, 0, 0);">
            <div style="text-align: justify;">Updated economic model based on the updated information above;</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" id="zd4b1c6b595bd46a193166d91ae89e2eb" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 18pt; color: rgb(0, 0, 0);"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">&#8226;</td>
          <td style="width: auto; vertical-align: top; color: rgb(0, 0, 0);">
            <div style="text-align: justify;">All necessary permits; and</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" id="z183db2680aee47278ad9df4dd6d6299c" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 18pt; color: rgb(0, 0, 0);"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">&#8226;</td>
          <td style="width: auto; vertical-align: top; color: rgb(0, 0, 0);">
            <div style="text-align: justify;">Final Investment Decision (FID) by both Ioneer and Sibanye-Stillwater.</div>
          </td>
        </tr>

    </table>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">Ioneer and Sibanye-Stillwater will continue to progress work on the engineering, complete additional drilling post ROD to delineate the southern limits of the deposit where mining is expected to
      commence and optimize the mine plan. Based on these outcomes, an updated capital and operating cost estimate will be provided to stakeholders before making an FID.</div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">The final loan is subject to approval of the Ioneer and Sibanye-Stillwater Boards, receipt of all material governmental consents necessary for the loan and the negotiation and execution of binding
      loan documents. When binding loan documents are signed, certain closing conditions must be satisfied before the loan commitment from DOE becomes effective and funds can be advanced.</div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="text-align: justify; margin-right: 10.65pt; color: rgb(0, 0, 0);">Jigar Shah, Director of DOE&#8217;s Loans Programs Office commented:</div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="text-align: justify; margin-right: 10.8pt; margin-left: 36pt; font-style: italic; color: rgb(0, 0, 0);">&#8220;Rhyolite Ridge is a major step towards bolstering domestic lithium production for clean energy technologies, and LPO is excited to
      further develop an environmentally responsible U.S. supply chain for critical materials.&#8221;</div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="text-align: justify; margin-right: 10.65pt; color: rgb(0, 0, 0);">James Calaway, Executive Chairman of Ioneer commented:</div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="text-align: justify; margin-right: 10.8pt; margin-left: 36pt; font-style: italic; color: rgb(0, 0, 0);">&#8220;The Conditional Commitment highlights Rhyolite Ridge&#8217;s strategic role in strengthening America&#8217;s critical mineral supply chain in
      providing a secure, sustainable, and reliable domestic source of lithium for the growing electric vehicle ecosystem.&#8221;</div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="text-align: justify; margin-right: 10.65pt; color: rgb(0, 0, 0);">Bernard Rowe, Managing Director of Ioneer commented:</div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="text-align: justify; margin-right: 10.8pt; margin-left: 36pt; font-style: italic; color: rgb(0, 0, 0);">&#8220;We are pleased to have finalised the term sheet and received a Conditional Commitment from the DOE for up to a $700mm loan from the
      ATVM program. The Conditional Commitment is the culmination of 23 months of discussions with and due diligence by the Loan Programs Office and it represents a significant milestone for Rhyolite Ridge. We look forward to working with the DOE and
      Sibanye-Stillwater to complete the remaining milestones to start construction of Rhyolite Ridge.&#8221;</div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="text-align: justify; margin-right: 10.65pt; color: rgb(0, 0, 0);">Neal Froneman, Chief Executive Officer of Sibanye-Stillwater commented:</div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="text-align: justify; margin-right: 10.65pt; margin-left: 36pt; font-style: italic; color: rgb(0, 0, 0);">&#8220;Rhyolite Ridge is a world-class lithium project which is ideally positioned to provide locally mined and beneficiated metals to
      further develop the U.S. battery ecosystem. The proposed loan represents a significant step towards further de-risking funding and ultimately progressing Rhyolite Ridge to production. We are encouraged by the DOE&#8217;s commitment to the development of
      the U.S. national battery metals mining industry through supportive funding programs such as the ATVM program and the commitment of the Ioneer team to date, aimed at ensuring that this high-quality project can be swiftly advanced once the necessary
      permits have been granted and outstanding conditions have been fulfilled.&#160;&#160; This is a significant milestone in the development of this critical project which promises to positively contribute to reducing climate change.&#8221;</div>
    <div style="color: rgb(0, 0, 0);">
      <div style="color: rgb(0, 0, 0);">
        <div><br>
        </div>
        <div><br>
        </div>
        <br>
        <div style="color: rgb(0, 0, 0);">
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              <tr>
                <td style="width: 26%; font-size: 8pt;"><font style="font-weight: bold;">Ioneer Ltd. (ASX: INR, Nasdaq: IONR) <br>
                  </font></td>
                <td style="width: 35%; font-size: 8pt; text-align: center;">Suite 5.03, 140 Arthur Street, North Sydney, NSW 2060</td>
                <td style="width: 13%; font-size: 8pt; text-align: center;"><font style="font-weight: bold;">T:</font> +61 2 9922 5800</td>
                <td style="width: 13%; font-size: 8pt; text-align: center;"><font style="font-weight: bold;">W:</font> Ioneer.com</td>
                <td style="width: 13%; font-size: 8pt; text-align: center;"> <font style="font-weight: bold;">ABN</font>: 76 098 564 606</td>
              </tr>

          </table>
          <div style="text-align: center;"><img src="image00001.jpg"></div>
        </div>
      </div>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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    </div>
    <div style="text-align: justify; margin-right: 10.8pt; margin-left: 36pt; font-style: italic; color: rgb(0, 0, 0);">&#8220;Sibanye-Stillwater&#8217;s battery metals strategy is primarily focused on the U.S. and Europe in recognition of the developing need for
      battery metals for the transition towards greater electrification of their established automotive industries. Sibanye-Stillwater is well placed to be a supportive partner and add significant value to Rhyolite Ridge given its complementary global
      mining experience and expertise, including its US mining operational and project development expertise, hydrometallurgical expertise and deep relationships with automakers and automotive OEMs globally.&#8221;</div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="color: #000000; text-align: justify;">DOE&#8217;s blog post in connection with its Conditional Commitment to Rhyolite Ridge is on the L<u>oan Programs Office website</u>.</div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold;">Transaction Advisers</div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="color: #000000; text-align: justify;">Ioneer&#8217;s financial adviser is Goldman Sachs, and its legal adviser is Vinson &amp; Elkins (US) and Ashurst (Australia).</div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="color: #000000; text-align: justify;">Sibanye-Stillwater's financial adviser is Macquarie Capital, and its legal adviser is Davis Polk &amp; Wardwell LLP (United States).</div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div>
      <div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold;">About Ioneer</div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
    </div>
    <div style="color: #000000; text-align: justify;">Ioneer Ltd is the 100% owner of the Rhyolite Ridge Lithium-Boron Project located in Nevada, USA, the only known lithium-boron deposit in North America and one of only two known such deposits in the
      world. The Definitive Feasibility Study (DFS) completed in 2020 confirmed Rhyolite Ridge as a world-class lithium and boron project that is expected to become a globally significant, long-life, low-cost source of lithium and boron vital to a
      sustainable future. In September 2021, Ioneer entered into an agreement with Sibanye-Stillwater to advance the Rhyolite Ridge project.&#160; Following the satisfaction of all conditions precedent of the agreement, Sibanye-Stillwater will acquire a 50%
      interest in a joint venture, with Ioneer maintaining a 50% interest and retaining the operational management responsibility for the joint venture. Ioneer signed separate offtake agreements with Ford Motor Company and PPES (joint venture between
      Toyota and Panasonic) in 2022 and Korea&#8217;s EcoPro Innovation in 2021.</div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div>
      <div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold;">About Sibanye-Stillwater</div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
    </div>
    <div style="color: #000000; text-align: justify;">Sibanye-Stillwater is a multinational mining and metals Group with a diverse portfolio of mining and processing operations and projects and investments across five continents. The Group is also one of
      the foremost global PGM autocatalytic recyclers and has interests in leading mine tailings retreatment operations. For more information, visit our website at<u> www.sibanyestillwater.com</u>.</div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="color: #000000; text-align: justify;">This ASX release has been authorised by Ioneer Managing Director Bernard Rowe.</div>
    <div style="color: rgb(0, 0, 0);">
      <div style="color: rgb(0, 0, 0);">
        <div><br>
        </div>
        <div><br>
        </div>
        <br>
        <div style="color: rgb(0, 0, 0);">
          <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; color: #000000; width: 100%;">

              <tr>
                <td style="width: 26%; font-size: 8pt;"><font style="font-weight: bold;">Ioneer Ltd. (ASX: INR, Nasdaq: IONR) <br>
                  </font></td>
                <td style="width: 35%; font-size: 8pt; text-align: center;">Suite 5.03, 140 Arthur Street, North Sydney, NSW 2060</td>
                <td style="width: 13%; font-size: 8pt; text-align: center;"><font style="font-weight: bold;">T:</font> +61 2 9922 5800</td>
                <td style="width: 13%; font-size: 8pt; text-align: center;"><font style="font-weight: bold;">W:</font> Ioneer.com</td>
                <td style="width: 13%; font-size: 8pt; text-align: center;"> <font style="font-weight: bold;">ABN</font>: 76 098 564 606</td>
              </tr>

          </table>
          <div style="text-align: center;"><img src="image00001.jpg"></div>
        </div>
      </div>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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    <div style="text-align: center; margin-right: 10.65pt; font-weight: bold; color: rgb(0, 0, 0);">-- ENDS &#8211;</div>
    <div>
      <div style="color: rgb(0, 0, 0);"><br>
      </div>
      <div style="color: rgb(0, 0, 0); font-weight: bold;">Contacts:</div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" id="z4914d576f2d8412eafb64ff5fe8b8175" style="border-collapse: collapse; width: 60%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

        <tr>
          <td style="width: 30%; vertical-align: top;">
            <div style="color: rgb(0, 0, 0); font-weight: bold;">Chad Yeftich</div>
            <div style="color: rgb(0, 0, 0); font-weight: bold;">Ioneer USA Corporation</div>
          </td>
          <td style="width: 30%; vertical-align: top;">
            <div style="color: rgb(0, 0, 0); font-weight: bold;">Jason Mack</div>
            <div style="color: rgb(0, 0, 0); font-weight: bold;">Ioneer Limited</div>
          </td>
        </tr>
        <tr>
          <td style="width: 30%; vertical-align: top; color: rgb(0, 0, 0);">
            <div>Investor Relations (USA)</div>
          </td>
          <td style="width: 30%; vertical-align: top; color: rgb(0, 0, 0);">
            <div>Investor Relations (AUS)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 30%; vertical-align: top;">
            <div style="color: rgb(0, 0, 0);"><font style="color: rgb(0, 0, 0);">T: +1 775 993 8509</font></div>
          </td>
          <td style="width: 30%; vertical-align: top; color: rgb(0, 0, 0);">
            <div>T: +61 410 611 709</div>
          </td>
        </tr>
        <tr>
          <td style="width: 30%; vertical-align: top;">
            <div><font style="color: #000000;">E:<u> </u></font><u><font style="color: rgb(0, 0, 0);">ir@Ioneer.com</font></u></div>
          </td>
          <td style="width: 30%; vertical-align: top;">
            <div><font style="color: #000000;">E: </font><u><font style="color: rgb(0, 0, 0);">jmack@Ioneer.com</font></u></div>
          </td>
        </tr>

    </table>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="color: rgb(0, 0, 0); font-weight: bold;">Important notice and disclaimer</div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold;">Forward-looking statements</div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">This announcement contains certain forward-looking statements and comments about future events, including Ioneer&#8217;s expectations about the Project and the performance of its businesses. Forward
      looking statements can generally be identified by the use of forward-looking words such as &#8216;expect&#8217;, &#8216;anticipate&#8217;, &#8216;likely&#8217;, &#8216;intend&#8217;, &#8216;should&#8217;, &#8216;could&#8217;, &#8216;may&#8217;, &#8216;predict&#8217;, &#8216;plan&#8217;, &#8216;propose&#8217;, &#8216;will&#8217;, &#8216;believe&#8217;, &#8216;forecast&#8217;, &#8216;estimate&#8217;, &#8216;target&#8217; and
      other similar expressions within the meaning of securities laws of applicable jurisdictions. Indications of, and guidance on, the Conditional Commitment, financing plans, future earnings or financial position or performance are also forward-looking
      statements.</div>
    <div style="color: rgb(0, 0, 0);"><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">Forward-looking statements involve inherent risks and uncertainties, both general and specific, and there is a risk that such predictions, forecasts, projections and other forward-looking
      statements will not be achieved. Forward-looking statements are provided as a general guide only and should not be relied on as an indication or guarantee of future performance. Forward looking statements involve known and unknown risks, uncertainty
      and other factors which can cause Ioneer&#8217;s actual results to differ materially from the plans, objectives, expectations, estimates, and intentions expressed in such forward-looking statements and many of these factors are outside the control of
      Ioneer. Such risks include, among others, uncertainties related to the finalisation, execution, and funding of the DOE financing, including our ability to successfully negotiate definitive agreements and to satisfy any funding conditions, as well as
      other uncertainties and risk factors set out in filings made from time to time with the U.S. Securities and Exchange Commission and the Australian Securities Exchange.&#160; As such, undue reliance should not be placed on any forward-looking statement.
      Past performance is not necessarily a guide to future performance and no representation or warranty is made by any person as to the likelihood of achievement or reasonableness of any forward-looking statements, forecast financial information or other
      forecast. Nothing contained in this announcement, nor any information made available to you is, or shall be relied upon as, a promise, representation, warranty or guarantee as to the past, present or the future performance of Ioneer.</div>
    <div style="color: rgb(0, 0, 0);"><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0);">Except as required by law or the ASX Listing Rules, Ioneer assumes no obligation to provide any additional or updated information or to update any forward-looking statements, whether as a result of
      new information, future events or results, or otherwise.</div>
    <div style="color: rgb(0, 0, 0);">
      <div style="color: rgb(0, 0, 0);">
        <div><br>
        </div>
        <div><br>
        </div>
        <br>
        <div style="color: rgb(0, 0, 0);">
          <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; color: #000000; width: 100%;">

              <tr>
                <td style="width: 26%; font-size: 8pt;"><font style="font-weight: bold;">Ioneer Ltd. (ASX: INR, Nasdaq: IONR) <br>
                  </font></td>
                <td style="width: 35%; font-size: 8pt; text-align: center;">Suite 5.03, 140 Arthur Street, North Sydney, NSW 2060</td>
                <td style="width: 13%; font-size: 8pt; text-align: center;"><font style="font-weight: bold;">T:</font> +61 2 9922 5800</td>
                <td style="width: 13%; font-size: 8pt; text-align: center;"><font style="font-weight: bold;">W:</font> Ioneer.com</td>
                <td style="width: 13%; font-size: 8pt; text-align: center;"> <font style="font-weight: bold;">ABN</font>: 76 098 564 606</td>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
