Lithium Miner Ioneer Wins $700 Million Loan Offer From Biden Administration
Ioneer (NASDAQ: IONR) (OTC: GSCC.F), a development-stage miner, announced on Friday that the U.S. Department of Energy (DOE) will lend it up to $700 million to build its Rhyolite Ridge lithium mining project in Nevada.
The Australian company's American depositary receipts (ADRs) that trade on the Nasdaq Stock Market under the ticker IONR surged more than 20% on heavy volume on the DOE loan news. They have since given back some of their gain, but as of Wednesday remained more than 6% higher than they were before this news was released.
Ioneer shares are also listed on the Australian Securities Exchange (ASX) under the ticker INR, and its foreign ordinary shares trade over the counter (OTC) under the ticker GSCC.F.
Source Fool.com
