The DoD grant application is designed to provide near-term funding for an accelerated Feasibility Study and associated drilling and testwork at the Company’s McDermitt Lithium Project (currently the largest lithium deposit in the US2), whilst the DoE grant application was for longer-term funding for engineering, procurement, construction and development of a lithium processing facility at McDermitt following completion of the Feasibility Study.
Jindalee has been advised that the current DoE grant application was not successful; however, the DoD grant application remains on foot and the Company is currently preparing additional information to support the application, with any potential award decision expected in the December quarter 2024.
Importantly, the Company continues to remain eligible for funding support from a range of US Government agencies, including the DoE, as the US looks to incentivise domestic production of critical minerals essential for electrifying the nation’s economy.
Authorised for release by the Jindalee Board of Directors.
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