Announcement • May 08
Jindalee Lithium Limited has filed a Follow-on Equity Offering in the amount of AUD 2.48097 million. Jindalee Lithium Limited has filed a Follow-on Equity Offering in the amount of AUD 2.48097 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 5,393,413
Price\Range: AUD 0.46
Security Features: Attached Options
Transaction Features: Rights Offering New Risk • Apr 15
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 3.4% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$8.7m free cash flow). Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings are forecast to decline by an average of 3.4% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (39% increase in shares outstanding). Revenue is less than US$1m (AU$32k revenue, or US$23k). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$9.5m net loss in 2 years). Market cap is less than US$100m (AU$65.1m market cap, or US$46.5m). New Risk • Apr 10
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 19% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$8.7m free cash flow). Share price has been highly volatile over the past 3 months (19% average weekly change). Shareholders have been substantially diluted in the past year (39% increase in shares outstanding). Revenue is less than US$1m (AU$32k revenue, or US$23k). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$7.0m net loss in 2 years). Market cap is less than US$100m (AU$70.2m market cap, or US$49.6m). New Risk • Mar 17
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$8.7m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$8.7m free cash flow). Shareholders have been substantially diluted in the past year (39% increase in shares outstanding). Revenue is less than US$1m (AU$74k revenue, or US$53k). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$7.0m net loss in 2 years). Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (AU$51.2m market cap, or US$36.2m). Announcement • Dec 17
Jindalee Lithium Limited has completed a Follow-on Equity Offering in the amount of AUD 7.999995 million. Jindalee Lithium Limited has completed a Follow-on Equity Offering in the amount of AUD 7.999995 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 14,327,262
Price\Range: AUD 0.55
Discount Per Security: AUD 0.033
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 218,184
Price\Range: AUD 0.55
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing New Risk • Nov 06
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 37% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (23% average weekly change). Shareholders have been substantially diluted in the past year (37% increase in shares outstanding). Revenue is less than US$1m (AU$32k revenue, or US$21k). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$4.0m net loss in 2 years). Market cap is less than US$100m (AU$49.2m market cap, or US$32.0m). Announcement • Oct 21
Jindalee Lithium Limited has filed a Follow-on Equity Offering in the amount of AUD 7.999995 million. Jindalee Lithium Limited has filed a Follow-on Equity Offering in the amount of AUD 7.999995 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 14,327,262
Price\Range: AUD 0.55
Discount Per Security: AUD 0.033
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 218,184
Price\Range: AUD 0.55
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Announcement • Oct 20
Jindalee Lithium Limited has filed a Follow-on Equity Offering in the amount of AUD 1 million. Jindalee Lithium Limited has filed a Follow-on Equity Offering in the amount of AUD 1 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,818,182
Price\Range: AUD 0.55
Security Features: Attached Options Announcement • Oct 02
Jindalee Lithium Limited, Annual General Meeting, Nov 20, 2025 Jindalee Lithium Limited, Annual General Meeting, Nov 20, 2025. New Risk • Sep 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$8.1m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings are forecast to decline by an average of 4.2% per year for the foreseeable future. Revenue is less than US$1m (AU$20k revenue, or US$13k). Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Currently unprofitable and not forecast to become profitable over next 2 years (AU$6.5m net loss in 2 years). Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (AU$45.5m market cap, or US$30.1m). New Risk • Sep 18
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 16% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$8.1m free cash flow). Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings are forecast to decline by an average of 4.2% per year for the foreseeable future. Revenue is less than US$1m (AU$20k revenue, or US$13k). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$7.0m net loss in 2 years). Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (AU$43.0m market cap, or US$28.5m). New Risk • Sep 12
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 19% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$8.1m free cash flow). Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings are forecast to decline by an average of 4.2% per year for the foreseeable future. Revenue is less than US$1m (AU$20k revenue, or US$13k). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$7.0m net loss in 2 years). Market cap is less than US$100m (AU$47.5m market cap, or US$31.6m). Board Change • Jul 09
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 new directors. No experienced directors. 1 highly experienced director. 2 independent directors (3 non-independent directors). Executive Director Lindsay Dudfield is the most experienced director on the board, commencing their role in 1996. Independent Non-Executive Director Paul Brown was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. New Risk • Jun 24
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 30% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$8.1m free cash flow). Share price has been highly volatile over the past 3 months (27% average weekly change). Earnings are forecast to decline by an average of 4.2% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (30% increase in shares outstanding). Revenue is less than US$1m (AU$20k revenue, or US$13k). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$7.0m net loss in 2 years). Market cap is less than US$100m (AU$30.3m market cap, or US$19.7m). Price Target Changed • May 04
Price target decreased by 8.8% to AU$1.86 Down from AU$2.04, the current price target is provided by 1 analyst. New target price is 328% above last closing price of AU$0.43. Stock is down 27% over the past year. The company is forecast to post a net loss per share of AU$0.12 next year compared to a net loss per share of AU$0.079 last year. New Risk • Apr 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 15% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$8.1m free cash flow). Earnings are forecast to decline by an average of 4.2% per year for the foreseeable future. Revenue is less than US$1m (AU$20k revenue, or US$12k). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$7.0m net loss in 2 years). Share price has been volatile over the past 3 months (15% average weekly change). Shareholders have been diluted in the past year (22% increase in shares outstanding). Market cap is less than US$100m (AU$24.3m market cap, or US$15.2m). New Risk • Mar 15
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$8.1m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$8.1m free cash flow). Earnings are forecast to decline by an average of 41% per year for the foreseeable future. Revenue is less than US$1m (AU$7.6k revenue, or US$4.8k). Market cap is less than US$10m (AU$15.1m market cap, or US$9.54m). Minor Risks Currently unprofitable and not forecast to become profitable next year (AU$9.0m net loss next year). Shareholders have been diluted in the past year (22% increase in shares outstanding). Announcement • Feb 25
Justin Mannolini, Lindsay Dudfield and others acquired 25.50% stake in Dynamic Metals Limited (ASX:DYM) from Jindalee Lithium Limited (ASX:JLL). Justin Mannolini, Lindsay Dudfield and others acquired 25.50% stake in Dynamic Metals Limited (ASX:DYM) from Jindalee Lithium Limited (ASX:JLL) on February 25, 2025. The transaction was brokered by Argonaut Securities.
Justin Mannolini, Lindsay Dudfield and others completed the acquisition of 25.50% stake in Dynamic Metals Limited (ASX:DYM) from Jindalee Lithium Limited (ASX:JLL) on February 25, 2025. New Risk • Dec 24
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings are forecast to decline by an average of 29% per year for the foreseeable future. Revenue is less than US$1m (AU$20k revenue, or US$12k). Market cap is less than US$10m (AU$15.5m market cap, or US$9.66m). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$9.0m net loss in 2 years). Shareholders have been diluted in the past year (22% increase in shares outstanding). New Risk • Dec 03
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.6m (US$9.50m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 29% per year for the foreseeable future. Revenue is less than US$1m (AU$20k revenue, or US$13k). Market cap is less than US$10m (AU$14.6m market cap, or US$9.50m). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$9.0m net loss in 2 years). Share price has been volatile over the past 3 months (16% average weekly change). Shareholders have been diluted in the past year (18% increase in shares outstanding). New Risk • Nov 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 29% per year for the foreseeable future. Revenue is less than US$1m (AU$20k revenue, or US$13k). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$9.0m net loss in 2 years). Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (18% increase in shares outstanding). Market cap is less than US$100m (AU$26.0m market cap, or US$17.0m). Announcement • Oct 08
Jindalee Lithium Limited, Annual General Meeting, Nov 26, 2024 Jindalee Lithium Limited, Annual General Meeting, Nov 26, 2024. New Risk • Sep 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 34% per year for the foreseeable future. Revenue is less than US$1m (AU$84k revenue, or US$58k). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Currently unprofitable and not forecast to become profitable over next 2 years (AU$9.0m net loss in 2 years). Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (24% increase in shares outstanding). Market cap is less than US$100m (AU$17.1m market cap, or US$11.9m). Price Target Changed • Jul 17
Price target decreased by 11% to AU$1.82 Down from AU$2.04, the current price target is provided by 1 analyst. New target price is 477% above last closing price of AU$0.32. Stock is down 83% over the past year. The company is forecast to post a net loss per share of AU$0.06 next year compared to a net loss per share of AU$0.058 last year. Announcement • Jul 12
Jindalee Lithium Limited has completed a Follow-on Equity Offering in the amount of AUD 0.531667 million. Jindalee Lithium Limited has completed a Follow-on Equity Offering in the amount of AUD 0.531667 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,772,224
Price\Range: AUD 0.3
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing New Risk • Mar 15
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$5.2m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$5.2m free cash flow). Earnings have declined by 40% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (5.4% increase in shares outstanding). Market cap is less than US$100m (AU$47.8m market cap, or US$31.5m). Recent Insider Transactions • Jan 10
CEO & Executive Director recently bought AU$80k worth of stock On the 8th of January, Lindsay Dudfield bought around 80k shares on-market at roughly AU$1.00 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Lindsay's only on-market trade for the last 12 months. New Risk • Oct 21
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$5.8m free cash flow). Earnings have declined by 16% per year over the past 5 years. Revenue is less than US$1m (AU$84k revenue, or US$53k). Minor Risks Shareholders have been diluted in the past year (4.4% increase in shares outstanding). Market cap is less than US$100m (AU$82.6m market cap, or US$52.2m). Announcement • Oct 05
Jindalee Resources Limited, Annual General Meeting, Nov 22, 2023 Jindalee Resources Limited, Annual General Meeting, Nov 22, 2023, at 09:30 W. Australia Standard Time. Reported Earnings • Sep 30
Full year 2023 earnings released: AU$0.045 loss per share (vs AU$0.026 loss in FY 2022) Full year 2023 results: AU$0.045 loss per share (further deteriorated from AU$0.026 loss in FY 2022). Net loss: AU$3.33m (loss widened 131% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 158 percentage points per year, which is a significant difference in performance. New Risk • Sep 24
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$6.6m free cash flow). Earnings have declined by 5.2% per year over the past 5 years. Revenue is less than US$1m (AU$69k revenue, or US$45k). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Market cap is less than US$100m (AU$110.2m market cap, or US$71.0m). New Risk • Sep 08
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$6.6m free cash flow). Earnings have declined by 5.2% per year over the past 5 years. Revenue is less than US$1m (AU$69k revenue, or US$44k). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Market cap is less than US$100m (AU$98.7m market cap, or US$62.9m). Reported Earnings • Mar 09
First half 2023 earnings released: AU$0.03 loss per share (vs AU$0.013 profit in 1H 2022) First half 2023 results: AU$0.03 loss per share (down from AU$0.013 profit in 1H 2022). Net loss: AU$1.73m (down 350% from profit in 1H 2022). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has increased by 99% per year, which means it is well ahead of earnings. Announcement • Dec 02
Jindalee Resources Limited Announces Executive Changes Jindalee Resources Limited announced that Ms. Patricia (Trish) Farr has retired from the Company Secretary role. Ms. Farr has acted as Jindalee's Company Secretary since the Company's initial listing in 2002, and as executive director from 2008 to 2022. The Board advises that Ms. Jessamyn Lyons and Ms. Carly Terzanidis have been appointed as Joint Company Secretaries. Ms. Lyons is a Chartered Secretary with close to 20 years experience in financial services and governance, both in Australia and overseas. Ms. Lyons is a Fellow of the Governance Institute of Australia and holds a Bachelor of Commerce majoring in Marketing, Investment & Corporate Finance. Ms. Lyons currently acts as Company Secretary for Dreadnought Resources Ltd, Lunnon Metals Ltd. and Ragnar Metals Ltd; Joint Company Secretary for Echo IQ Ltd; and Director Corporate Services at Nexia Perth. Ms. Terzanidis has 20+ years experience in financial services, with a focus on governance, and is a Chartered Secretary. Ms. Terzanidis is an Associate of the Governance Institute of Australia and holds a Bachelor of Commerce with majors in Accounting and Corporate & Resources Administration. Ms Terzanidis currently acts as Company Secretary for Alchemy Resources Ltd. and Corporate Adviser Managed Services at Nexia Perth. Announcement • Nov 24
Jindalee Resources Limited Provides a Further Update on Drilling at its 100% Owned McDermitt Lithium Project Jindalee Resources Limited provided a further update on drilling at its 100% owned McDermitt Lithium Project located in SE Oregon, USA. The 2022 drilling program is designed to infill and extend the Mineral Resource Estimate (MRE) announced on 6 July 2022 of 1.82 Bt @ 1,370 ppm lithium for 13.3 Mt LCE (Lithium Carbonate Equivalent) at 1,000ppm Li cut-off. Late October 2022 Jindalee advised that 21 holes had been completed at McDermitt. Results from the first four diamond holes were announced on 19 September 2022 and 25 October 2022, and results from the first five RC holes were announced on 11 November 2022. Jindalee advised that assay results from Reverse Circulation (RC) holes MDRC026, MDRC029, MDRC030 and MDRC032, and diamond holes MDD025 and MDD026 have been received, with all holes returning significant lithium intercepts (all True Width) (summarised below): MDD025: 6.3m @ 1261 ppm Li from 21.4m; 20.4m @ 1199 ppm Li from 48.1m; 14.1m @ 1393 ppm Li from 72.1m; 28.3m @ 1427 ppm Li from 90.6m (incl. 3.0m @ 2375 ppm Li from 92.2m); 23.3m @ 1726 ppm Li from 72.1m (incl. 3.9m @ 2718 ppm Li from 133.6m), (incl. 6.0m @ 2211 ppm Li from 140.2m); 9.3m @ 2379 ppm Li from 169.8m (incl. 6.3m @ 2698 ppm Li from 172.8m) and 21.3m @ 1434 ppm Li from 169.8m (incl. 3.1m @ 2364 ppm Li from 189.4m). MDD026: 14.5m @ 1328 ppm Li from 1.5m; 9.0m @ 1670 ppm Li from 21.5m (incl. 3.0m @ 2590 ppm Li from 21.5m); 12.8m @ 1584 ppm Li from 33.5m; 20.2m @ 1889 ppm Li from 49.3m (incl. 6.2m @ 2665 ppm Li from 49.3m); (incl. 3.0m @ 2435 ppm Li from 57.9m); 51.8m @ 1787 ppm Li from 83.4m (incl. 3.1m @ 2370 ppm Li from 93.9m); (incl. 9.8m @ 3118 ppm Li from 104.7m). MDRC026: 29.0m @ 1568 ppm Li from 19.8m (incl. 3.0m @ 2100 ppm Li from 30.5m). MDRC029: 7.6m @ 1914 ppm Li from 18.3m (incl. 4.6m @ 2323 ppm Li from 18.3m); 15.2m @ 1600 ppm Li from 50.3m; 9.1m @ 1310 ppm Li from 121.9m; 15.2m @ 1460 ppm Li from 141.7m (incl. 3.0m @ 2060 ppm Li from 153.9m); 10.7m @ 1619 ppm Li from 161.5m; 6.1m @ 1816 ppm Li from 176.8m (incl. 3.0m @ 2305 ppm Li from 179.8m). MDRC030: 13.7m @ 1694 ppm Li from 30.5m; 10.7m @ 1488 ppm Li from 100.6m (incl. 3.0m @ 2365 ppm Li from 105.2m); 25.9m @ 1460 ppm Li from 118.9m (incl. 3.0m @ 2270 ppm Li from 129.5m). MDRC032: 15.2m @ 1559 ppm Li from 42.7m; 13.7m @ 1515 ppm Li from 67.1m (incl. 3.0m @ 2420 ppm Li from 76.2m); 9.2m @ 1852 ppm Li from 102.1m. The current program is designed to further increase confidence in the Inferred Mineral Resource and convert to Indicated status, as well as determine the extent of lithium mineralisation across the Project, with 5 of the 6 holes reported in this announcement located within the current Inferred Mineral Resource but outside the current Indicated Mineral Resource. Furthermore, the substantial thicknesses of mineralised sediments intersected in all 6 holes (eg, MDD025 intersected 182.2m @ 1197 ppm Li from 21.4m) suggest excellent potential for adding substantial tonnages on the western side of the McDermitt deposit. Assays have now been received from 6 diamond holes (MDD020 to MDD023, MDD025 and MDD026) and 9 RC holes (MDRC024 to MDRC027 and MDRC029 to MDRC033). Results from the remaining 6 holes should be received by mid-December, with an updated MRE for McDermitt expected to be announced early 2023. Announcement • Nov 12
Jindalee Resources Limited Announces Excellent Intercepts from RC Drilling At McDermitt Jindalee Resources Limited provided a further update on drilling at its 100% owned McDermitt Lithium Project located in SE Oregon, USA. The 2022 drilling program is designed to infill and extend the Mineral Resource Estimate(MRE) announced on 6 July 2022 of 1.82 Bt @ 1,370 ppm lithium for 13.3 Mt LCE (Lithium Carbonate Equivalent) at 1,000ppm Li cut-off. Late October 2022 Jindalee advised that 21 holes (10 diamond and 11 RC) had been completed at McDermitt3, with significant intercepts from the first four diamond holes(MDD020 to MDD023) announced on 19 September 20222 and 25 October 20223.Jindalee is pleased to advise that assay results from Reverse Circulation (RC) holes MDRC024,MDRC025, MDRC027, MDRC031 and MDRC033 have been received with all holes returning significant shallow intercepts MDRC024: 68.6m @ 1669 ppm Li from 0m (incl. 13.7m @ 2455 ppm Li from 35.1m); MDRC025: 50.3m @ 1512ppm Li from 0m (incl. 6.1m @ 2100 ppm Li from 29.0m); MDRC027: 13.7m @ 1554ppm Li from 9.1m (incl. 4.6m @ 2172 ppm Li from 16.8m); MDRC031: 15.2m @ 1141 ppm Li from 13.7m, 10.7m @ 1516 ppm Li from 33.5m (incl. 3.0m @ 2045 ppm Li from 33.5m), 16.8m @ 1269 ppm Li from 54.9m, 15.2m @ 1544 ppm Li from 88.4m, and 30.5m @ 1516 ppm Li from 131.1m (incl. 4.6m @ 2480 ppm Li from 138.7m). MDRC033: 12.2m @ 1570ppm Li from 27.4m, 21.3m @ 1187 ppm Li from 83.8m, 15.2m @ 1713 ppm Li from 131.1m (incl. 3.0m @ 2120 ppm Li from 137.2m), (incl. 3.0m @ 2725 ppm Li from 143.3m), and 16.8m @ 1395 ppm Li from 150.9m. The current program is designed to further increase confidence in the Inferred Mineral Resource and convert to Indicated status, as well as determine the extent of lithium mineralization across the Project. To this end, all five RC holes reported in this announcement are located within the current Inferred Mineral Resource but outside the current Indicated Mineral Resource. Assays have now been received from diamond holes MDD020 to MDD023 and RC holesMDRC024, MDRC025, MDRC027, MDRC031 and MDRC033, with results from the remaining12 holes still pending. The Company expects a steady flow of assay results through to December, with results to be announced as they become available. Announcement • Oct 27
Jindalee Resources Limited Provides an Update on Drilling At Its 100% Owned McDermitt Lithium Project Located in Se Oregon, USA Jindalee Resources Limited provided an update on drilling at its 100% owned McDermitt Lithium Project located in SE Oregon, USA. The 2022 drilling program (total 28 approved holes) is designed to infill and extend the Mineral Resource Estimate (MRE) announced on 6 July 2022 of 1.82 Bt @ 1,370 ppm lithium for 13.3 Mt LCE (Lithium Carbonate Equivalent) at 1,000ppm Li cut-off. On 23 August 2022 Jindalee advised that 10 diamond holes had been completed at McDermitt, and on 19 September 2022 the Company announced significant intercepts from the first two diamond holes (MDD020 & MDD021). Jindalee is pleased to advise that assay results from holes MDD022 and MDD023 have been received, returning significant shallow intercepts (summarised below): MDD022: 34.5m @ 1609 ppm Li from 15.4m (incl. 5.2m @ 2537 ppm Li from 42.8m), 29.2m @ 1503 ppm Li from 55.6m (incl. 7.1m @ 2334 ppm Li from 77.7m), 9.7m @ 1243 ppm Li from 87.9m, MDD023: 23.8m @ 2174 ppm Li from 2.1m (incl. 15.0m @ 2508 ppm Li from 2.1m), 32.4m @ 1702 ppm Li from 32.7m, 18.2m @ 1548 ppm Li from 83.2m. Jindalee is also pleased to advise that 21 holes (10 diamond and 11 Reverse Circulation (RC)). have now been completed at McDermitt with drilling paused to allow drill sites for the 21 holes completed to date to be rehabilitated. Assays have been received from holes MDD020 to MDD023, with results from the remaining completed holes still pending. The current program is designed to further increase confidence in the Inferred Mineral Resource and convert to Indicated status, as well as determine the extent of lithium mineralisation across the Project. Announcement • Oct 14
Jindalee Resources Limited Announces Positive Results from Metallurgical Testwork At McDermitt Jindalee Resources Limited announced positive results have been returned from initial alkali salt roast testwork on ore from Jindalee's 100% owned McDermitt Lithium Project located in Oregon, USA. Lithium phosphate (Li3PO4) assaying 58,880 ppm (5.89%) Li has been produced from roasting and sequential leaching of a composite sample of McDermitt ore assaying 1,460 ppm Li. Lithium phosphate has been shown to be a potential precursor chemical for production of Lithium Iron Phosphate (LFP) batteries. LFP batteries currently comprise 25% of the Li-ion battery market and are expected to grow to 40% by 2030 due to improved battery configurations increasing range performance. Significantly, major US auto maker Ford has recently advised that it is adding LFP cell chemistry to its portfolio to help meet forecast compound annual growth for EVs of 90%, with 40GWh per year of LFP to be sourced from its North American battery factories by 2026. The recent testwork has confirmed that alkali salt roasting of McDermitt ore can produce lithium phosphate, providing an alternative processing route for the Project, as well as a commercially important lithium chemical product. The positive results from use of recycled residue salts from initial roasting and the implications for reduced reagent usage are also very encouraging. Jindalee continues to investigate opportunities to optimise the flowsheet for McDermitt, ahead of more detailed studies later this year. Discussion: There are at least two potential pathways for the extraction of lithium from sedimentary deposits such as McDermitt: sulphuric acid leaching of either whole or beneficiated ore, and alkali salt roasting. Initial metallurgical testwork completed by Jindalee focussed on beneficiation and sulphuric acid leaching, similar to the flowsheet proposed for the nearby Thacker Pass project3. The results of the acid leach testwork to date have been successful with beneficiation via attrition scrubbing increasing the lithium content in the <0.01mm fraction by 60.9% (from 0.23% to 0.37%), and lithium recoveries of 97% with sulphuric acid (H2SO4) leach at moderate temperatures and atmospheric pressure. Metallurgical modelling completed as part of Jindalee's Preliminary Scoping Study determined that more optimal lithium recoveries may be achieved using whole of ore alkali salt roasting. Alkali salt roasting is the processing route proposed for the Sonora Lithium Project, acquired by Ganfeng Lithium in January 2022. Jindalee engaged Lithium Consultants Australasia to manage ongoing metallurgical test work programs at Nagrom, Perth, with an initial focus on the roasting flow sheet. A composite sample of McDermitt ore was roasted with alkali salts and the roast ore sequentially leached with the same leach liquor to increase the lithium tenor. Trisodium phosphate was then added to the final leach liquor to precipitate lithium phosphate. A second roasting and leaching test was conducted using mixed salts recovered from the mother liquor from the sequential leaching testwork outlined above. These mixed salts were added to the roast mix as a substitute for one of the roast reagents (sodium sulphate) with subsequent leaching extracting 89.49% of the lithium, confirming that recycling the salt residue as a roast reagent improves lithium recoveries and reduces reagent usage. Whilst Jindalee has not committed to a particular processing route the Company is delighted with the results from the initial alkali salt roasting testwork, which suggest a viable alternative processing route to sulphuric acid leaching. Testwork to develop the most cost effective and energy efficient flow sheet for McDermitt is continuing, with further results to be announced when received. Announcement • Oct 07
Jindalee Resources Limited, Annual General Meeting, Nov 30, 2022 Jindalee Resources Limited, Annual General Meeting, Nov 30, 2022, at 09:30 W. Australia Standard Time. Announcement • Sep 29
Jindalee Resources Limited Provides Annual Mineral Resources Statement Jindalee Resources Limited provided this annual review and summary of the Company's Mineral Resources as at 31 August 2022. The Company's Mineral Resources are reported in accordance with the 2012 JORC code and estimated or based on documentation prepared by a Competent Person as defined by the 2012 JORC Code unless otherwise specified. All information compiled in this statement has been previously announced and this statement fairly represents a summary of the supporting information and documentation. Jindalee ensures that the Minerals Resource quoted are subject to governance arrangements and internal controls. Internal and external reviews of Mineral Resource estimation procedures and results are carried out by a team of experienced technical personnel that is comprised of highly competent and qualified professionals. These reviews have not identified any material issues. The Company's procedures for drilling, sampling techniques and analysis are regularly reviewed and audited by independent experts. Assays are undertaken by independent, internationally accredited laboratories with a QA/QC program delivering acceptable levels of accuracy and precision. Material changes in the Company's Mineral Resource from 30 June 2021 to 31 August 2022 were: Increase and upgrade of the McDermitt Mineral Resource; Sale of 70% interest in Prospect Ridge Magnesite Project including the Arthur River Mineral Resource to GWR. A total of 6 RC and 6 diamond holes were drilled in late 2021 with the aim of increasing confidence in the mineral resource to allow for conversion of Inferred Mineral Resource to Indicated. Significant widths of lithium mineralisation have been intercepted in every drill hole to date, with highlights from the 2021 program including: MDD014: 38.0m at1751ppm Li from 43.0m incl. 3.0m at 3805ppm Li; MDD015: 21.0m at1952ppm Li from 24.0m incl. 3.0m at 3065ppm Li; MDD016: 24.0m at2210ppm Li from 61.5m incl. 9.0m at 3000ppm Li; MDD017: 40.5m at1714ppm Li from 33.0m incl. 12.0m at 2732 ppm Li; MDD018: 60.0m at1880ppm Li from 48.0m incl. 15.0m at 2707ppm Li; MDD019: 73.5m at1554ppm Li from 30.0m incl. 10.5m at 3055ppm Li. Jindalee commissioned H&S Consultants Pty Ltd. (H&SC) to update the Mineral Resource Estimate (MRE) following the completion of the 2021 drill program. The 2022 combined Indicated and Inferred Mineral Resource update represents an overall increase (from 2021) in tonnage of 25%, with a 3% increase in grade for a 28% increase in contained lithium. More importantly, the Indicated Mineral Resource increased by over 165% by tonnage and 2% in grade for an overall 170% increase in contained metal at this higher confidence classification. Changes in the Mineral Resource were due to extensional drilling along strike as well as the extension of Mineral Resource classification from 100m from surface in the previous resource update to 120m below surface. This was supported by the positive open pit optimisation work completed as part of the Scoping Study, which was demonstrated potential economic extraction could occur at these depths. The Prospect Ridge Project is located in NW Tasmania approximately 40km southwest of the Port of Burnie and comprises both the Arthur River and Lyons River magnesite deposits. Jindalee holds a 100% interest in the Project via wholly owned subsidiary HiTec Minerals Pty Ltd. ("HiTec"). On 10 October 2017 Jindalee announced an Inferred MRE of 25.1Mt at 42.4% MgO at 40% MgO cut-off at the Arthur River deposit. There has been no change in the Arthur River MRE since this date. On 27 January 2022 Jindalee announced it had signed a binding term sheet for the sale of 70% of the Company's interest in the Prospect Ridge Project for total consideration of $1 million payable in cash and shares to Tasmanian Magnesium Pty Ltd. ("TM"), a wholly owned subsidiary of GWR Group Ltd. HiTec is 30% free carried to Decision to Mine, with TM required to spend a minimum of $2 million and complete a Scoping Study within 5 years. GWR announced the completion of the acquisition in March 2022. The Joyners project is located 40km west of Wiluna in Western Australia and covers the eastern part of the Joyners Find greenstone belt. GWR controls an 80% interest in the JV, with Jindalee retaining a 20% equity position, free-carried through to completion of a Bankable Feasibility Study. On 24 May 2011 GWR Group Limited announced an Indicated and Inferred MRE of 7.9Mt at 62.2% Fe at 50% Fe cut-off at the Joyners JV. There has been no change in the Joyners JV MRE since this date. Reported Earnings • Sep 23
Full year 2022 earnings released: AU$0.026 loss per share (vs AU$0.011 loss in FY 2021) Full year 2022 results: AU$0.026 loss per share (further deteriorated from AU$0.011 loss in FY 2021). Net loss: AU$1.45m (loss widened 187% from FY 2021). Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has increased by 120% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 23
Jindalee Resources Provides an Update on Drilling At Its 100% Owned McDermitt Lithium Project Located in Oregon, USA Jindalee Resources Limited (Jindalee, the Company) provided an update on drilling at its 100% owned McDermitt Lithium Project located in Oregon, USA. The 2022 program (total 28 holes) is designed to infill and extend the Mineral Resource Estimate (MRE) announced on 6 July 2022 of 1.82 Bt @ 1,370 ppm lithium for 13.3 Mt LCE (Lithium Carbonate Equivalent) at 1,000ppm Li cut-off1. Diamond drilling commenced late July2 with 10 holes (total 1,536m) completed to date; a Reverse Circulation (RC) drill rig is expected mid-September to complete the remaining 18 holes. All 10 holes drilled to date intersected significant thicknesses of the sediments hosting the lithium mineralisation at McDermitt, with holes MDD024 and MDD025 (on the western edge of the MRE) the deepest holes drilled at McDermitt to date, reaching a maximum depth of 228m (MDD025). Core from the first holes has been logged, cut and samples submitted for analysis, with initial assay results expected in October (Figure 2). Core recovery was excellent. Approval for a total of 39 RC and diamond drill holes was received from the Oregon Department of Geology and Mineral Industries (DOGAMI) in October 2021. In total, 12 holes designed to increase confidence in the 2021 MRE3 and convert Inferred Mineral Resource to Indicated were drilled in December 2021, with 11 completed and one (MDRC018) abandoned prior to reaching target depth. The drilling resulted in a 28% increase in contained lithium (from 10.1 Mt LCE to 13.3 Mt LCE). Importantly, contained lithium in the Indicated Mineral Resource increased by 170%, from 1.8 Mt LCE to 4.8 Mt LCE1,3. Announcement • Aug 04
Jindalee Resources Limited Announces Board Changes Jindalee Resources Limited announced that Mr. Darren Wates has joined the board of Jindalee as an independent non-executive director. Mr. Wates has over 12 years' experience with Australian lithium industry pioneer Neometals Ltd. (Neometals), and is currently serving as consulting general counsel to Neometals through specialist corporate and commercial law firm Corpex Legal, of which he is the founder and principal. Jindalee also announced that Ms. Patricia (Trish) Farr has retired from the Board of the Company. Ms. Farr was first appointed to the Jindalee Board in 2008 and has served as executive director and company secretary since that time. She will continue to act as Jindalee's company secretary. Announcement • Jul 25
Jindalee Resources Limited Announces Drilling Commenced At Its 100% Owned McDermitt Project Located in Oregon, USA Jindalee Resources Limited announced drilling has commenced at its 100% owned McDermitt project located in Oregon, USA. The program is designed to infill and extend the Mineral Resource Estimate (MRE) announced on 6 July 2022 of 1.82 Bt @ 1,370 ppm lithium for 13.3 Mt LCE (Lithium Carbonate Equivalent) at 1,000ppm Li cut-off. A diamond rig has commenced drilling, with a Reverse Circulation (RC) rig expected to arrive on-site in September. Approval for a total of 39 RC and diamond drill holes was received from the Oregon Department of Geology and Mineral Industries (DOGAMI) in October 2021, and 12 holes designed to increase confidence in the 2021 MRE and convert Inferred Mineral Resource to Indicated were drilled in December 2021. Significant widths of lithium mineralisation were intersected, resulting in a 28% increase in contained lithium (from 10.1 Mt LCE to 13.3 Mt LCE). Importantly, contained lithium in the Indicated Mineral Resource increased by 170%, from 1.8 Mt LCE to 4.8 Mt LCE. A total of 28 holes will be drilled in the current program (including redrilling MDRC018), with holes planned to further increase confidence in the Inferred Mineral Resource and convert to Indicated Resource, as well as determine the extent of lithium mineralisation across the project. Assay turnaround times are expected to be approximately 12 weeks, with results anticipated to be received in the December quarter. Announcement • Jul 07
Jindalee Resources Limited Announces 170% Increase to Indicated Resource At Mcdermitt At a 1000ppm cut-off, the average assigned specific gravity is 1.56. Estimation: Wireframe surfaces were generated for the top and bottom of the paleo-lake sediments and used to constrain the estimate into three domains (sediments, colluvium, and basement). Sample data were composited to 2m for analysis and grade estimate as this is the dominant sample length. There were no extreme values present in statistical data analysis so no treatment for outliers was required. Lithium was estimated using Ordinary Kriging (OK) for all domains. The infill drilling supports previous variogram modelling indicating mineralisation may be trending NW-SE direction which also corresponds to drainage in the claim area. Continuity has strengthened with the infill drilling, resulting in significantly longer horizontal ranges. Block size for estimation was 200mE by 200mN by 5mRL with sub-celling permitted to 40mE by 40mN by 1mRL. Validation: The model was validated in several ways including visual comparison of block and drill hole grades, statistical analysis, examination of grade tonnage data and comparison with previous models. No material issues were identified. Classification: Mineral Resources were classified based on consideration of data quality and spacing as well as geological and grade continuity. Indicated Mineral Resources are confined to an area of closer spaced drilling with holes nominally drilled 400m apart, while Inferred Mineral Resources were restricted to blocks within 1,000m of the nearest hole. Additional material was added to the Mineral Inventory by the extension of Mineral Resource classification from 100m from surface in the previous resource update to 120m below surface. This was supported by the positive open pit optimisation work completed as part of the Scoping Study, which was demonstrated potential economic extraction could occur at these depths. All blocks within the Mineral Resource are informed by at least 3 holes and 12 samples as a minimum. Metallurgy: There are two potential pathways for the extraction of lithium from sedimentary deposits such as McDermitt: sulphuric acid leaching of both whole and beneficiated ore and sodium sulphate roasting. Jindalee has not committed to a particular route but continues to focus studies on optimising the most cost and energy efficient flow sheet. Initial work completed by Jindalee focussed on beneficiation and sulphuric acid leaching at Hazen Research labs similar to the flowsheet proposed by the nearby Thacker Pass project. The results of the acid leach testwork to date have been successful with highlights including: Lithium recoveries in excess of 95% with sulphuric acid (H2SO4) leach at moderate temperatures and atmospheric pressure on whole of ore samples. Increase of lithium content in the <0.01mm fraction by more than 50% (from 0.22% to 0.34%) via beneficiation of McDermitt ore (attrition scrubbing) at 20% solids which also reduced carbonate and analcime (both acid consuming minerals). Further attrition scrubbing test work demonstrated an increase in the lithium content in the <0.01mm fraction by 60.9% (from 0.23% to 0.37%). Leaching experiments on beneficiated samples demonstrated lithium extraction rates of 94%-97% with 26% less acid consumed per lithium unit than for previous similar experiments on non-beneficiated ore. The metallurgical modelling work completed as part of the preliminary Scoping Study determined: that more optimal lithium recoveries may be achieved using whole of ore sodium sulphation roasting. Sulphation roasting is the processing route proposed for the Sonora Lithium Project, recently acquired by acquisition by Ganfeng Lithium. The beneficiation step explored as part of the acid leach flow sheet is not required in the proposed sulphation roast flow sheet. Jindalee has engaged Lithium Consultants Australasia to manage ongoing metallurgical test work programs at Nagrom, Perth, with an immediate focus on the roasting flow sheet. A series of tests are currently underway, and the market will be informed as results come to hand. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 3 highly experienced directors. 1 independent director (2 non-independent directors). Independent Non-Executive Chairman Justin Mannolini was the last independent director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Recent Insider Transactions Derivative • Apr 05
Executive Director exercised options to buy AU$3.7m worth of stock. On the 4th of April, Lindsay Dudfield exercised options to buy 1m shares at a strike price of around AU$0.40, costing a total of AU$400k. This transaction amounted to 7.3% of their direct individual holding at the time of the trade. Since June 2021, Lindsay's direct individual holding has increased from 13.73m shares to 13.75m. Company insiders have collectively bought AU$356k more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Mar 07
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: EPS: AU$0.013 (up from AU$0.011 loss in 1H 2021). Net income: AU$691.7k (up AU$1.13m from 1H 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has increased by 123% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 06
Jindalee Resources Limited Announces a JORC 2012 Inferred Mineral Resource Estimate at the Arthur River Deposit Jindalee Resources Limited announced a JORC 2012 Inferred Mineral Resource estimate at the Arthur River Deposit of 25 million tonnes of Magnesite grading 42.4% MgO, 4.8% SiO2, 1.4% Fe2O3 and 2.6% CaO to an average depth of 100m below surface at a cut-off of 40% MgO. Announcement • Feb 16
Jindalee Resources Limited Announces Update on Widgiemooltha Project Jindalee Resources Limited announced an update on nickel sulphide target generation at its 100% owned Widgiemooltha Project in the Eastern Goldfields of Western Australia. Assisted by a highly regarded komatiite nickel sulphide exploration specialist, Jindalee has completed historic data compilation and geological interpretation with a focus on identifying nickel mineralisation and the presence of basal ultramafic stratigraphy that is a vital component of the Kambalda nickel sulphide ore deposit model. The technical work to date has identified numerous occurrences of the prospective basal ultramafic stratigraphy and anomalous nickel results from historic drilling within the Widgiemooltha Project tenement package. Dordie Far West is located on the northwest margin of the Widgiemooltha Dome on granted E15/1680. Nickel mineralisation at Dordie Far West was established by drilling completed by Mincor Resources in the late 2000s. Geological interpretation of the drilling data set interprets the mineralisation hosted within the keel of a synform in the ultramafic stratigraphy. The recognition of this structural position provides an excellent opportunity to drill test the area for further nickel mineralisation. Historic drill intercepts at Dordie Far West include: MRC151 8m @ 1.3% Ni from 26m downhole; MRC152 2m @ 1.7% Ni from 12m downhole; MRC157 2m @ 1.9% Ni from 26m downhole; MRC157 4m @ 1.2% Ni from 46m downhole; MRC158 2m @ 1.1% Ni from 22m downhole; MRC160 2m @ 1.4% Ni from 28m downhole; MRC160 4m @ 1.4 % Ni from 36m downhole. The Railway target was subject to drilling by Mincor Resources in the same era as the Dordie Far West area. The presence of prospective basal ultramafic stratigraphy has been established by historic drilling and Jindalee's geological interpretation of the historic drilling results has identified further opportunities to drill test for nickel sulphide mineralisation. The Croser target is located on E15/1753. Nickel mineralisation at the Croser target was identified during gold exploration in the 1990s. Two significant nickel results within ultramafic stratigraphy were returned from aircore drilling near a prominent magnetic feature that is interpreted to be a trough structure. The anomalous nickel results and their position in relation to the interpreted trough structure justify further nickel exploration efforts. Pioneer Dome West is a broad target area on the western side of the Pioneer Dome on tenement E15/1721. The immediate area has been subject to significant gold exploration and Jindalee has identified an opportunity to test the ultramafic stratigraphy for nickel sulphide mineralisation. The primary focus is a series of prominent magnetic features along the western margin of the Pioneer Dome that appear broadly similar to magnetic features on either side of the Widgiemooltha Dome, which are known to host significant nickel mineralisation. Announcement • Feb 02
Jindalee Resources Limited Announces Assay Results from the Remaining Three Reverse Circulation Drillholes Jindalee Resources Limited announced assay results from the remaining three Reverse Circulation (RC) drillholes completed late in 2021 at the Company's 100% owned McDermitt Lithium Project (US). These new results continue to support the Mineral Resource Estimate (MRE) reported in April 20211. MDRC021 intersected six mineralised zones of lithium with the best result of 29.0m of 1,801 ppm Li that included a 12.2 m wide zone grading over 2,500 Li. This intercept is within 25m of surface and highlights the potential for enhancement of project economics through staged production as identified in the Preliminary Scoping Study. MDRC022 also reported a wide, shallow intercept of over 20m of lithium mineralisation, including 1.5m at 3,110ppm Li from surface. Jindalee expects the results from diamond drilling completed in December to follow later in the quarter. All drill hole results will be used to update the MRE early in the June quarter. Announcement • Jan 19
Jindalee Resources Limited Announces Assay Results from First Three Drill Holes Completed Late in 2021 at its 100% Owned McDermitt Lithium Project, USA Jindalee Resources Limited announced assay results from the first three drillholes completed late in 2021 at the Company's 100% owned McDermitt Lithium Project (US). These new results confirm mineral continuity to the north of the existing Indicated Mineral Resource, with MDRC019 located outside of the current Inferred Mineral Resource boundary. Highlights from these drillholes include: MDRC018: 13.7m @ 1168 ppm Li from 3.1m; 10.7m @ 2354 ppm Li from 21.4m (hole ends in mineralisation); MDRC019: 13.7m @ 1041 ppm Li from 9.2m; 13.7m @ 1084 ppm Li from 44.2m; 24.4m @ 2173 ppm Li from 71.7m incl. 3.1m @ 3425 ppm Li; 38.1m @ 1407 ppm Li from 105.2m incl. 3.1m @ 2765 ppm Li; MDRC020: 13.7m @ 2142 ppm Li from 22.9m incl. 7.6m @ 2660 ppm Li; 12.2m @ 1133 ppm Li from 45.8m. In November 2021 Jindalee announced that drill permits had been received2, approving a total of 39 drillholes planned with the intent to increase confidence in the Mineral Resource and test for potential resource extensions. Drilling commenced late November 20213 with a total of 11 drillholes completed before stopping for the Christmas break. The 12th hole, MDRC018, was only drilled to 32m depth before it was abandoned due to poor drilling conditions. The hole finished in a zone of significant lithium mineralisation of 10.7m @ 2,354ppm Li. It is anticipated that it will be redrilled with the next round of drilling. MDRC019 intersected several broadly mineralised zones of lithium with the best result of 24.4m of 2,173pm Li that included a 3.1m wide zone grading over 3,400ppm Li. Importantly, MDRC019 is located just outside the current Inferred Mineral Resource boundary1 and as a result is expected to have a very positive impact on the resource estimate. Jindalee expect the remainder of assays from the Reverse Circulation drillholes will be received by the end of January 2022, with diamond hole results to follow later in the quarter. All drill hole results will be used to update the Mineral Resource estimate (MRE) early in June quarter. Planning for the next phase of drilling in 2022 is well-advanced with all drill permits in hand. The remainder of the drilling is planned to be RC and will primarily focus on investigating the untested mineral potential across the western tenure. Drilling is expected to commence in July 2022 in line with permitting conditions. Jindalee will continue to advance the project during the first half of the year with key non-drilling activities taking place. From February 2022 baseline environmental studies will commence in line with Jindalee's application for an Exploration Plan of Operations (EPO). These studies are being coordinated with the Bureau of Land Management (BLM) and the Oregon Department of Geology and Mineral Industries (DOGAMI). In addition, a 200kg sample from the 2020 drill program has arrived in Perth with metallurgical test work to commence at Nagrom this week. McDermitt Lithium Project Background: On 8 April 2021 Jindalee announced an updated Mineral Resource Estimate (MRE) of 1.43 Bt @ 1,320ppm Li (0.28% Li2O) for a total of 10.1Mt of Lithium Carbonate Equivalent (LCE) at 1,000ppm Li cut-off3 had been estimated at McDermitt: The Mineral Resource was estimated using a cut-off grade of 1,000ppm Li, which is considered appropriate in the context of similar projects and based on an assessment of the likelihood of future economic extraction as required by the JORC (2012) Code. The entire Mineral Resource sits within 100m of surface and is flat lying, both positive factors for future project economics. The results of the MRE at a full range of cut-off grades demonstrate the scalability of the project. In September 2021 Jindalee announced the results of a positive preliminary Scoping Study4 based on the Indicated and Inferred Mineral Resource. The key outcomes of the Study highlighted the potential of the Project to support a viable standalone lithium mining and processing operation and reinforced the significance of McDermitt as a potential long-life source of future supply to the rapidly growing US battery manufacturing industry. Due to regulatory constraints surrounding the reliance on Inferred Mineral Resources, detailed production and financial metrics were unable to be released to the market. Announcement • Dec 24
Odessa Minerals Limited completed the acquisition of 90% stake in Aries Project from Jindalee Resources Limited from Jindalee Resources Limited (ASX:JRL). Odessa Minerals Limited agreed to acquire a 90% stake in Aries Project from Jindalee Resources Limited from Jindalee Resources Limited (ASX:JRL) on August 23, 2021. The Aries Project is the subject of an agreement whereby Odessa will acquire one granted exploration licence E 80/5027.
Odessa Minerals Limited completed the acquisition of 90% stake in Aries Project from Jindalee Resources Limited from Jindalee Resources Limited (ASX:JRL) on December 23, 2021. Announcement • Nov 29
Jindalee Resources Limited Announces Commencement of Drilling At Mcdermitt Lithium Project, U.S.A Jindalee Resources Limited announced that drilling has commenced at its 100% owned McDermitt project located in Oregon, U.S. The program is designed to infill and extend the current Mineral Resource announced in April 2021 of 1.43Bt at 1,320ppm lithium (at a 1,000ppm lithium cut-off)1. A diamond drill rig has commenced drilling, with a Reverse Circulation (RC) rig expected to arrive on-site this week. Approval for a total of 39 RC and diamond drill holes has been received from the Oregon Department of Geology and Mineral Industries (DOGAMI). Approximately 29 drill holes are planned to increase confidence in the Inferred Mineral Resource and convert to Indicated Resource whilst the remainder are exploratory to determine the extent of lithium mineralisation across the project. Assays are anticipated to be received in the March quarter, with turnaround times expected to be approximately 12 weeks. Reported Earnings • Aug 26
Full year 2021 earnings released: AU$0.011 loss per share (vs AU$0.007 loss in FY 2020) Full year 2021 results: Net loss: AU$504.3k (loss widened 101% from FY 2020). Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has increased by 134% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 23
Odessa Minerals Limited agreed to acquire a 90% stake in Aries Project from Jindalee Resources Limited from Jindalee Resources Limited (ASX:JRL). Odessa Minerals Limited agreed to acquire a 90% stake in Aries Project from Jindalee Resources Limited from Jindalee Resources Limited (ASX:JRL) on August 23, 2021. The Aries Project is the subject of an agreement whereby Odessa will acquire one granted exploration licence E 80/5027. Announcement • Jun 22
Jindalee Continues to Advance Its US Lithium Assets Jindalee Resources Limited provided the following update on developments with respect to its US lithium assets. The Company holds 100%
interest in two projects in the United States: the advanced McDermitt lithium deposit in Oregon, and the Clayton North prospect in Nevada, with significant activities planned at both projects over the coming months. McDermitt Lithium Project: In April 2021 Jindalee announced an updated Indicated and Inferred Mineral Resource at McDermitt of 1.43Bt @ 1,320ppm Li for 10.1Mt of contained Lithium Carbonate Equivalent (LCE). The Mineral Resource was estimated using a cut-off grade of 1,000ppm Li, which is considered appropriate in the context of similar projects and based on an assessment of the likelihood of future economic extraction as required by the JORC (2012) Code. Mining, engineering, and geotechnical components of a scoping study are underway, with the market to be advised of outcomes as guided by ASX and ASIC reporting frameworks in the September quarter. In addition to the Scoping Study, drill planning for the 2021 season is well advanced with an extensive RC and diamond drill program designed to upgrade and extend the current Mineral Resource at McDermitt. The program is designed to maximise resource conversion while minimising the disturbance footprint. Drill permitting is currently with the government agencies and a drill contractor has been appointed to complete the programs, with drilling expected to commence in the September quarter. After successfully demonstrating the ability to upgrade lithium content by 60% through attrition scrubbing, Jindalee has commissioned test work to be completed on bulk samples collected in the 2020 drill program. The test sample will consist of approximately 1,000kg of ore and will follow a staged process of attrition scrubbing, acid leaching and purification through to final production of lithium carbonate. The entire process is expected to take approximately 6 months. The Company advised the additional tenements staked at McDermitt in March 2021 have been approved by the Bureau of Land Management (BLM). The new tenements straddle the Oregon-Nevada border and are interpreted to contain extensions of sediments hosting the lithium mineralisation at the McDermitt deposit.
Clayton North Project: An exploration diamond drill program is planned to test Jindalee's 100% owned Clayton North
prospect. Clayton North is located 23km north of Albermarle's Silver Peak brine operation, which is currently the only domestic source of lithium in US. Samples taken by Jindalee in 2018 confirm the presence of lithium mineralisation, with up to 930ppm Li detected at
surface. This drill program is the first follow up of the surface sampling results with drillholes planned to ascertain grade continuity of lithium mineralisation in fresh sediments. Drilling is expected to commence in July 2021. US Lithium Assets - Sector Developments: The Biden Administration remain committed to their strategy for net-zero carbon emissions by 2050. The Federal Consortium for Advanced Batteries (FCAB) is a collection of US Federal agencies developing a collaborative strategy for ensuring US self-sufficiency with regards to
the lithium battery supply chain. On 7 June 2021, the FCAB released the National Blueprint for Lithium Batteries with five critical goals to attain, with the first being "securing US access to raw materials by incentivising growth in safe, equitable and sustainable domestic mining
ventures while leveraging partnerships with allies and partners to establish a diversified supply". McDermitt is well placed to provide a large steady domestic supply of lithium to support the US meeting their targets for decarbonisation. To meet the increased demand requirements
multiple battery factory developments have been announced or proposed in the US. Announcement • May 26
Loki Exploration Pty Ltd completed the acquisition of Kenya Project Tenements from Jindalee Resources Limited (ASX:JRL). Loki Exploration Pty Ltd entered into binding heads of agreement to acquire Kenya Project Tenements from Jindalee Resources Limited (ASX:JRL) for AUD 0.09 million on January 21, 2021. Under the terms, Ragnar Metals Limited (ASX:RAG) will issue shares 2.5 million and will grant Jindalee Resources Limited a 1% Net Smelter Royalty. The Loki Exploration Pty Ltd intends to apply funds raised under the capital raising, together with existing cash reserves of AUD 5.856 million. The transaction is subject to approval by regulatory board/committee, approval of offer by Loki Exploration Pty Ltd shareholders, third party approval and consummation of due diligence investigation.
Loki Exploration Pty Ltd completed the acquisition of Kenya Project Tenements from Jindalee Resources Limited (ASX:JRL) on May 25, 2021. Recent Insider Transactions Derivative • Apr 20
Independent Non-Executive Chairman exercised options and sold AU$261k worth of stock On the 16th of April, Justin Mannolini exercised 500.00k options at around AU$0.40, then sold 100k of the shares acquired at an average of AU$3.01 per share and kept the remainder. Since June 2020, Justin's direct individual holding has increased from 342.56k shares to 759.69k. Company insiders have collectively bought AU$250k more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Mar 16
Jindalee Resources Limited announced that it expects to receive AUD 9 million in funding Jindalee Resources Limited (ASX:JRL) announced private placement of 6,000,000 common shares at a price of AUD 1.5 per share for gross proceeds of AUD 9,000,000 to institutional, professional, and sophisticated investors on March 15, 2021. The company expects to issue the shares on or around March 19, 2021 with allotment occurring on March 22, 2021. The transaction is approved by the board of directors of the company. Announcement • Mar 14
Jindalee Continues to Demonstrate Strategic Scale of Mcdermitt Lithium Project Jindalee Resources Limited announced assay results from the last four drillholes completed late in 2020 at the Company's 100% owned McDermitt Lithium Project (US). The latest results continue to confirm considerable extensions to mineralisation at McDermitt with three of the holes located to the north and west of the existing Inferred Mineral Resource1. Highlights from these drillholes include: MDRC013: 32.0m @ 1379 ppm Li from 70.2m; MDRC014: 70.2m @ 1221 ppm Li from 12.2m, 24.4m @ 1887 ppm Li from 131.2m incl. 6.1m @ 2953 ppm Li; MDRC015: 25.9m @ 1615 ppm Li from 120.5m incl. 4.6m @ 2550 ppm Li; MDRC016: 15.3m @ 1554 ppm Li from 56.4m incl. 4.6m @ 2623 ppm Li; 56.4m @ 1151 ppm Li from 122.2m incl. 4.6m @ 2150 ppm Li. MDRC014 and MDRC016 both intersected broad mineralised zones with widths exceeding 55 metres true thickness. Whilst the intersections in MDRC015 were not as broad, they are significant as the hole is located 1.6km from the nearest drillhole (MDD012) included in the 2019 Inferred Mineral Resource estimate1. As these three drillholes are located outside of the existing Inferred Mineral Resource1 they are be expected to materially benefit the upcoming Mineral Resource update. All drillholes completed by Jindalee to date have reported significant zones of lithium mineralisation. The 2020 drill program infill drilling has confirmed the grade and continuity of the deposit while the success of large step-outs from the current Mineral Resource, particularly in drillholes MDRC015 and MDRC004, are indicative of the potential scale of the McDermitt Lithium project. Mid-December Jindalee announced that it had paused its drilling program at McDermitt, with 15 holes of a proposed 21 hole program completed. All holes were vertical and were predominantly drilled using wet Reverse Circulation (RC). Samples were collected at 5 foot (1.52m) intervals and submitted to ALS (Reno, Nevada) for analysis for lithium and 47 other elements using ICP-MS. In February 20215 and March 2021 Jindalee announced the assay results for the first 11 holes completed at McDermitt in 2020 with significant intercepts reported in every drill hole including: MDRC004: 9.2m @ 2243 ppm Li from 140.3m, 15.3m @ 2459 ppm Li from 155.6m; MDRC005: 18.3m @ 1992 ppm Li (incl. 9.2m @ 2440ppm Li) from 58.0m; MDRC006: 30.5m @ 1939 ppm Li (incl. 4.6m @ 3550ppm Li) from 39.7m; 29.0m @ 2164 ppm Li from 97.6m; MDRC007: 29.0m @ 1948 ppm Li from 19.8m; MDRC009: 22.9m @ 2108 ppm Li from 6.1m; MDRC010: 19.8m @ 2383 ppm Li (incl. 9.2m @ 3017ppm Li) from surface; MDRC011: 22.9m @ 2283 ppm Li from 3.1m; MDRC012: 58.0m @ 1611ppm Li (incl. 12.2m @ 2617ppm Li) from 1.5m. Reported Earnings • Mar 08
First half 2021 earnings released: AU$0.011 loss per share (vs AU$0.028 loss in 1H 2020) First half 2021 results: Net loss: AU$440.9k (loss narrowed 58% from 1H 2020). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has increased by 81% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 06
Jindalee Resources Limited Announces Results Confirm Extension to McDermitt Resource Jindalee Resources Limited announced that assay results have now been received for 11 holes of the 15-hole program completed late in 2020 at the Company's 100% owned McDermitt Lithium Project (US). The latest results for MDRC012 confirm substantial widths of lithium mineralisation from surface in the SE portion of the deposit including: 58.0m @ 1611 ppm Li from 1.5m including 12.2m @ 2617ppm Li; 27.4m @ 1477 ppm Li from 88.9m. Results from MDRC012, located approximately 500m SE of the nearest hole (MDRC011), support significant intercepts recently announced by Jindalee5 with drilling successfully confirming and extending the geology and grade continuity of the lithium mineralisation at McDermitt. The density of drilling is expected to be adequate to extend the current Inferred Mineral Resource1 and Exploration Target Range and convert existing Inferred Mineral Resources to Indicated status ahead of a possible Scoping Study. In late 2019 Jindalee announced an Inferred Mineral Resource of 150Mt @ 2,000ppm Li (0.43% Li2O) at 1,750ppm Li cut-off1 had been estimated at McDermitt. The Mineral Resource was estimated using a cut-off grade of 1,750ppm Li, which is considered appropriate in the context of similar projects and based on an assessment of the likelihood of future economic extraction as required by the JORC (2012) Code. The entire Inferred Mineral Resource sits within 100m of surface and is flat lying, both positive factors for future project economics. Furthermore, analysis of the grade tonnage distribution of the McDermitt resource model highlights the potential for additional material available at lower grades, and metallurgical testwork to date has been very encouraging, indicating high lithium recoveries from conventional sulphuric acid leaching at low temperature and atmospheric pressure. Using the same cut-off grade as the Mineral Resource, an ETR of 180-330Mt @ 1,800-2,200ppm Li (exclusive of the Inferred Resource) was also estimated. Mid-December Jindalee announced that it had paused its drilling program at McDermitt, with 15 holes of a proposed 21 hole program completed. All holes were vertical and were predominantly drilled using wet Reverse Circulation (RC). Samples were collected at 5 foot (1.52m) intervals and submitted to ALS (Reno, Nevada) for analysis for lithium and 47 other elements using ICP-MS. In February 2021 Jindalee announced the assay results for the first 10 holes completed at McDermitt in 2020 with significant intercepts reported in every drill hole including: MDRC004: 9.2m @ 2243 ppm Li from 140.3m, 15.3m @ 2459 ppm Li from 155.6m; MDRC005: 18.3m @ 1992 ppm Li (incl. 9.2m @ 2440ppm Li) from 58.0m; MDRC006: 30.5m @ 1939 ppm Li (incl. 4.6m @ 3550ppm Li) from 39.7m, 29.0m @ 2164 ppm Li from 97.6m; MDRC007: 29.0m @ 1948 ppm Li from 19.8m; MDRC009: 22.9m @ 2108 ppm Li from 6.1m; MDRC010: 19.8m @ 2383 ppm Li (incl. 9.2m @ 3017ppm Li) from surface; MDRC011: 22.9m @ 2283 ppm Li from 3.1m. Assay results from the remaining 4 holes are expected mid-March. Further information on the drilling program and the McDermitt Project are contained in Annexure A and B. Announcement • Feb 22
Jindalee Resources Limited Provides Update on Metallurgical Testwork Conducted on Samples from its 100% Owned McDermitt Lithium Deposit Jindalee Resources Limited provided the following update on metallurgical testwork conducted on samples from its 100% owned McDermitt lithium deposit, located in the USA. Results from leach testwork undertaken on bulk (non-beneficiated) samples in 2019 indicated lithium recoveries of >95% with short residence times using sulphuric acid (H2SO4) leach at moderate temperatures and atmospheric pressure, with potential to reduce acid consumption via recycling of the leachate. In August 2020 Jindalee announced that beneficiation of McDermitt ore via attrition scrubbing at 20% solids had increased the lithium content in the <0.01mm fraction by more than 50% (from 0.22% to 0.34%) and had reduced carbonate and analcime (both acid consuming minerals). The latest attrition scrubbing testwork, designed to produce a beneficiated sample for leaching experiments, increased the lithium content in the <0.01mm fraction by 60.9% (from 0.23% to 0.37%). Furthermore, initial leaching experiments on beneficiated samples demonstrated lithium extraction rates of 94-97% with 26% less acid consumed per lithium unit than for previous similar experiments on non-beneficiated ore. The testwork also indicated that the residue remaining after leaching is relatively benign, comprising quartz, feldspar and gypsum. Approximately 44kg of coarse residues from crushed core from holes MDD-006 and MDD-012 were shipped to Hazen Research Inc., a highly regarded metallurgical laboratory in Colorado. These holes were selected because they are located in a relatively shallow part of the McDermitt resource and therefore represent portions of the deposit likely to encountered early in any future mining operation. The samples were composited to create a master or head sample for the metallurgical testwork. The head sample was assayed for lithium (Li) and several impurity elements; this assayed 0.23% Li using 4 acid digestion and 6.84% carbonate (CO3). The sample was also analysed using X-Ray Diffraction (XRD) to identify the mineral constituents, which were dominated by feldspars (44%) with lesser amounts of quartz (13%), calcite (14%), analcime (11%) and smectite clays (17%). This also showed that lithium is almost exclusively associated with smectites. Assay laboratories in the United States are experiencing significant delays due to the uplift of exploration activity and ongoing complications related to COVID-19, with results from the final five drill holes completed at McDermitt in December 2020 now expected mid-March 2021. Announcement • Feb 01
Jindalee Resources Limited Announces Assay Results from Ten Drill Holes Completed in December 2020 Jindalee Resources Limited announced that assay results from ten drill holes completed in December 2020 at the Company's 100% owned McDermitt Lithium Project in the United States have confirmed substantial thicknesses of lithium mineralisation including: MDRC004: 9.2m @ 2243 ppm Li from 140.3m 15.3m @ 2459 ppm Li from 155.6m, MDRC005: 18.3m @ 1992 ppm Li (incl. 9.2m @ 2440ppm Li) from 58.0m, MDRC006: 30.5m @ 1939 ppm Li (incl. 4.6m @ 3550ppm Li) from 39.7m 29.0m @ 2164 ppm Li from 97.6m, MDRC007: 29.0m @ 1948 ppm Li from 19.8m, MDRC009: 22.9m @ 2108 ppm Li from 6.1m, MDRC010: 19.8m @ 2383 ppm Li (incl. 9.2m @ 3017ppm Li) from surface, MDRC011: 22.9m @ 2283 ppm Li from 3.1m. Fifteen holes were completed in December 2020 with the drilling intersecting substantial thicknesses of the flat lying sediments hosting the lithium mineralisation at McDermitt1. It is important to note that most holes were mineralised over the entire sedimentary package encountered eg: MDRC006: 126.5m @ 1397 ppm Li from surface and MDRC010: 120.4m @ 1440 ppm Li from surface. Hole MDRC004, which is located 1.1km north of the current Inferred Resource1, intersected 9.2m @ 2243 ppm Li from 140.3m and 15.3m @ 2459 ppm Li from 155.6m, suggesting excellent potential to add substantial tonnages in this part of the project area. Furthermore, several holes intersected significant intercepts at shallow depths, which is likely to impact favourably on future studies. The density of the drilling completed to date is expected to be adequate to extend the current Inferred Mineral Resource1 and Exploration Target Range1 and convert a portion of the existing Inferred Mineral Resources to Indicated status ahead of a possible Scoping Study. Is New 90 Day High Low • Jan 29
New 90-day high: AU$1.66 The company is up 121% from its price of AU$0.75 on 30 October 2020. The Australian market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 23% over the same period. Announcement • Jan 22
Loki Exploration Pty Ltd entered into binding heads of agreement to acquire Kenya Project Tenements from Jindalee Resources Limited (ASX:JRL) for AUD 0.09 million Loki Exploration Pty Ltd entered into binding heads of agreement to acquire Kenya Project Tenements from Jindalee Resources Limited (ASX:JRL) for AUD 0.09 million on January 21, 2021. Under the terms, Ragnar Metals Limited (ASX:RAG) will issue shares 2.5 million and will grant Jindalee Resources Limited a 1% Net Smelter Royalty. The Loki Exploration Pty Ltd intends to apply funds raised under the capital raising, together with existing cash reserves of AUD 5.856 million. The transaction is subject to approval by regulatory board/committee, approval of offer by Loki Exploration Pty Ltd shareholders, third party approval and consummation of due diligence investigation. Announcement • Jan 14
Jindalee Resources Limited Announces Initial Assay Results from Mcdermitt Drilling Expected Late January Jindalee Resources Limited provided the following update on developments with respect to its US lithium assets, the most advanced of which is the McDermitt Lithium Project in Oregon. The Mineral Resource was estimated using a cut-off grade of 1,750ppm Li, which is considered appropriate in the context of similar projects and based on an assessment of the likelihood of future economic extraction as required by the JORC (2012) Code. The entire Inferred Mineral Resource sits within 100m of surface and is flat lying, both positive factors for future project economics. Furthermore, analysis of the grade tonnage distribution of the McDermitt resource model highlights the potential for additional material available at lower grades. On 14 December 2020 Jindalee announced that it had cut short drilling at McDermitt after members of the drilling crew tested positive for COVID-193. The Company is pleased to advise that all of Jindalee's US geological team tested negative for COVID-19 and were able to return home for Christmas. The drilling program was designed to extend the current Inferred Mineral Resource1 and Exploration Target Range1 and convert existing Inferred Mineral Resources to Indicated status ahead of a possible Scoping Study. Fifteen holes of the 21-hole proposed program were completed in November-December 2020, with the drilling intersecting up to 185m true thickness of the target sediments hosting the lithium mineralisation at the Project3. The density of the completed holes expected to be adequate to achieve most of the original aims of the program. All samples from the program have been submitted for analysis. Laboratories in the US are experiencing long delays and Jindalee has been advised that initial assay results should be received late January. Results will be announced as soon as they become available. Metallurgical testwork to date has been very encouraging, indicating high lithium recoveries from conventional sulphuric acid leaching at low temperature and atmospheric pressure. In August 2020 Jindalee announced that beneficiation of McDermitt ore via attrition scrubbing at 20% solids had increased the lithium content in the <0.01mm fraction by more than 50% (from 0.22% to 0.34%) and had reduced carbonate to 3.0% (from 6.3%) and removed approximately 90% of the analcime2. Further testwork designed to quantify the leaching characteristics of the beneficiated ore is well advanced with first results expected later this month. Is New 90 Day High Low • Jan 11
New 90-day high: AU$0.90 The company is up 61% from its price of AU$0.56 on 13 October 2020. The Australian market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 23% over the same period. Announcement • Dec 15
Jindalee Resources Limited Provides Drilling Update -Mcdermitt Lithium Project Jindalee Resources Limited advised that drilling at the company's 100% owned McDermitt Lithium Project (US) has been paused after members of the drilling crew tested positive for COVID-19. Jindalee's US geological team is currently in self- quarantine on-site awaiting test results. Fifteen holes of the proposed 21 hole program have been completed with the drilling intersecting up to 185m true thickness of the target sediments hosting the lithium mineralisation at McDermitt. The density of the drilling completed to date is expected to be adequate to extend the current Inferred Mineral Resource and Exploration Target Range and convert existing Inferred Mineral Resources to Indicated status ahead of a possible Scoping Study. The entire Inferred Mineral Resource sits within 100m of surface and is flat lying, both positive factors for future project economics. Furthermore, analysis of the grade tonnage distribution of the McDermitt resource model highlights the potential for additional material available at lower grades. Metallurgical testwork to date has been very encouraging, indicating high lithium recoveries from conventional sulphuric acid leaching at low temperature and atmospheric pressure and the potential to beneficiate the ore to increase lithium head grade and remove acid consuming minerals, thereby improving project economics. Announcement • Nov 26
Jindalee Resources Limited Announces Drilling At McDermitt Lithium Project Jindalee Resources Limited announced that drilling at the company's 100% owned McDermitt Lithium Project (US) is progressing well with first 10 holes of the proposed program of up to 21 holes completed. The drilling is designed to extend the current Inferred Mineral Resource and Exploration Target Range and convert existing Inferred Mineral Resources to Indicated status ahead of a possible Scoping Study. The drilling has encountered up to 185m true thickness of the target sediments hosting the lithium mineralisation at McDermitt, with initial assay results expected late December. The Mineral Resource was estimated using a cut-off grade of 1,750ppm Li, which is considered appropriate in the context of similar projects and based on an assessment of the likelihood of future economic extraction as required by the JORC (2012) Code. The entire Inferred Mineral Resource sits within 100m of surface and is flat lying, both positive factors for future project economics. Furthermore, analysis of the grade tonnage distribution of the McDermitt resource model highlights the potential for additional material available at lower grades. Metallurgical testwork to date has been very encouraging, indicating high lithium recoveries from conventional sulphuric acid leaching at low temperature and atmospheric pressure and the potential to beneficiate the ore to increase lithium head grade and remove acid consuming minerals, thereby improving project economics. Announcement • Nov 16
Jindalee Resources Limited Commences Drilling At McDermitt Lithium Project Jindalee Resources Limited announced that drilling at the company's 100% owned McDermitt Lithium Project (US) has commenced. The drilling program comprises up to 21 holes designed to extend the current Inferred Mineral Resource1 and Exploration Target Range1 and convert existing Inferred Mineral Resources to Indicated status ahead of a possible Scoping Study. First assay results are expected late December. In late 2019 Jindalee announced an Inferred Mineral Resource of 150Mt @ 2,000ppm Li (0.43% Li2O) at 1,750ppm Li cut-off1 had been estimated at McDermitt. The Mineral Resource was estimated using a cut-off grade of 1,750ppm Li, which is considered appropriate in the context of similar projects and based on an assessment of the likelihood of future economic extraction as required by the JORC (2012) Code. The entire Inferred Mineral Resource sits within 100m of surface and is flat lying, both positive factors for future project economics. Furthermore, analysis of the grade tonnage distribution of the McDermitt resource model highlights the potential for additional material available at lower grades. Metallurgical testwork to date has been very encouraging, indicating high lithium recoveries from conventional sulphuric acid leaching at low temperature and atmospheric pressure and the potential to beneficiate the ore to increase lithium head grade and remove acid consuming minerals, thereby improving project economics. Is New 90 Day High Low • Nov 10
New 90-day high: AU$0.86 The company is up 111% from its price of AU$0.41 on 11 August 2020. The Australian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 4.0% over the same period. Is New 90 Day High Low • Oct 27
New 90-day high: AU$0.69 The company is up 107% from its price of AU$0.34 on 27 July 2020. The Australian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 4.0% over the same period. Reported Earnings • Oct 26
Full year earnings released - AU$0.0066 loss per share Over the last 12 months the company has reported total losses of AU$250.9k, with losses narrowing by 75% from the prior year. Is New 90 Day High Low • Oct 22
New 90-day high: AU$0.65 The company is up 91% from its price of AU$0.34 on 16 July 2020. The Australian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is flat over the same period. Is New 90 Day High Low • Sep 25
New 90-day high: AU$0.61 The company is up 92% from its price of AU$0.32 on 23 June 2020. The Australian market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 5.0% over the same period. Announcement • Aug 03
Jindalee Resources Limited Announces Appointment of Karen Wellman as Chief Executive Officer, Effective on 12 October 2020 Jindalee Resources Limited announced the appointment of Mrs. Karen Wellman as chief executive officer, effective 12 October 2020. Mrs. Wellman is a geologist with almost 20 years' experience covering all aspects of the mining cycle from early stage exploration, production and mine geology, through to resource definition and estimation on multiple ore deposits and commodities including gold, copper, lead, zinc, nickel and silver. In her most recent role as Resource Development Manager for Silver Lake Resources Mrs. Wellman made significant contributions to the success of the Deflector Gold-Copper Project in WA. Previously she has worked as a Consultant for Optiro and Senior Resource Geologist for Boliden Minerals AB in Sweden, and has held multiple roles at St Ives Gold Mine with Goldfields Australia. Announcement • Jun 17
Jindalee Resources Limited announced that it has received AUD 0.11 million in funding Jindalee Resources Limited (ASX:JRL) announced a private placement of 366,667 shares at a price of AUD 0.30 per share for the gross proceeds of AUD 110,000 on June 17, 2020. The transaction include participation from a corporate sophisticated investor. 
