Ioneer (INR) H2 2026 earnings summary

Executive summary

• Transitioned to a calendar year-end, reporting for the six months ended 31 December 2025.

• Advanced strategic partnering for the Rhyolite Ridge Lithium-Boron Project, with FID targeted for 2026.

• Benefited from US government support for critical minerals, including a $996M DOE loan.

• Raised A$72M (US$50M) in equity in February 2026 to accelerate project development.

Financial highlights

• Net loss after tax for the six months: $4.07M (vs $9.55M for the prior 12 months).

• Operating cash outflows: $3.07M, down 55% from the prior period.

• Net cash at period end: $17.86M, down 29% from 30 June 2025.

• No dividends declared or paid.

Outlook and guidance

• Strategic partnering process expected to conclude in H1 2026.

• Updated technical report incorporating improved leach duration due in H1 2026.

• Project positioned to benefit from US policy support for domestic critical minerals.