IRIS Metals

IRIS Metals Limited (ASX: IR1) has announced the settlement of its recent capital raising program. The Board wishes to advise that all funds from the Placement have now been received, completing a successful raise of $8.01 million, including the funds from Stardust Power Inc. (NASDAQ: SDST) ("Stardust Power"). Chairman Peter Marks said, “The successful completion of our $8 million capital raising program positions us to accelerate the advancement of our South Dakota exploration and developments projects, including initial resource estimates, and deliver on the growing US demand for domestically produced hard rock lithium. Importantly, the opportunity in securing the supply of locally produced hard rock lithium to the US domestic market, remains a key priority for IRIS. The outcome of the recent US election has further emphasised the value of our US-based, tariff-free assets. We are pleased to welcome Stardust Power as a new shareholder. Our partnership with Stardust Power holds substantial strategic potential as they work towards building a state-of-the-art lithium refinery and production facility in Oklahoma”. Kevin Smith Matt Hartmann CPS Capital Stardust Power, Inc. NWR Communications #capitalraise #asxnews #miningnews #investing

This Thanksgiving, we celebrate progress made possible by our amazing IRIS Metals team. To everyone celebrating, we hope your day is filled with gratitude, connection, and moments to cherish. Wishing You a Happy Thanksgiving! #USmining #thanksgiving #southdakota #mothernature #IRISMetals Matt Hartmann Kevin Smith

🌟 Powering the Future of Lithium in the US🌟 With projects in South Dakota, including the Beecher and Tin Mountain sites, they’re focused on creating a fully integrated US lithium supply chain—from mine to battery-grade lithium carbonate. Discover how IRIS is advancing lithium production with innovative partnerships and a forward-thinking approach to meet the rising demand for #EV solutions. Read the full story on Australian Mining Review to see how they are shaping the next generation of lithium production #USlithiumsupplychain #lithium Matt Hartmann Kevin Smith Olivia Thomson

A recently signed MOU between #IRIS Metals and ReElement Technologies, the parties aim to convert US-origin SC6 into battery-grade #lithium carbonate within the United States, utilising domestic intellectual property and commercial processes operated by ReElement. But what does this all mean? Watch the replay of this virtual #investor webcast with IRIS Metals’ Non-Executive Director Kevin Smith and ReElement’s Director, Mark LaVerghetta.

Forging partnerships to unlock the value chain in America. This is the way. IRIS Metals + ReElement Technologies

Coverage via Colin Hay from Small Caps In a transformative day, the hard rock #lithium developer came out of a trading halt to announce it had received firm commitments for a placement of 32 million shares at $0.25 each and had reached an exclusivity agreement with #battery-metals specialist Stardust Power. IRIS intends to use the new funds for #exploration and related activities at its South Dakota lithium project in the US, with a focus on the historic Tin Mountain mine. Full article ⤵

✨Iris sprinkles stardust on north american lithium options ✨ Courtesy of Head Topics Iris Metals' push to play a significant role in the US #lithium space has led to the signing of an exclusivity agreement for a possible offtake deal, with the potential customer already stumping up cash as part of a new share placement. Nasdaq-listed Stardust Power, Inc. has agreed to subscribe for an initial A$2.5 million in the $8 million at 25c capital raising announced today and can pump in a further $2.5 million at the end of the 90-day negotiation period.

Coverage thanks to Matthew Craig at The Market Bull - Daily Stock News Iris Metals has raised $8 million to accelerate its lithium mining projects in the United States, as they stride to become a leading supplier of battery-grade lithium to North America. Additionally, Iris has entered an exclusivity agreement with Stardust Power Inc., aiming to create a partnership to advance sustainable lithium production. Read full article ⤵

IRIS Metals announced that it has received firm commitments for a share placement via the issue of 32,000,000 fully paid ordinary shares at $0.25 per share, raising $8 million. The capital raised will be allocated to ongoing exploration and related activities, including: • further exploration and development work on patented properties, including Tin Mountain; • initial definition of a maiden lithium resource in 2025; • progress Bureau of Land Management (BLM) targets and associated permitting activities; and • provide for general working capital requirements and costs of the raising. IRIS Metals Chairman Peter Marks said: “We are very pleased with the support shown for the capital raise and I thank many of our existing as well as new shareholders for their support. This new funding positions us to continue with our exploration, development and related activities at our properties in South Dakota. As previously discussed, we anticipate announcing a maiden mineral resource estimate at Beecher early in 2025, followed by a resource at Tin Mountain.” #ASXNews #capitalraise #batterysupplychain Kevin Smith Matt Hartmann CPS Capital Stardust Power, Inc. Melissa Tempra

IRIS Metals announced that the Company has entered into a 90-Day Exclusivity Agreement with U.S. based, Stardust Power Inc. Stardust Power, a sustainable American developer of battery grade lithium products designed to supply the electric vehicle industry, are currently developing a large, centrally located lithium refinery based in Muskogee, Oklahoma. The agreement will allow the companies to further explore commercial and strategic opportunities, including a commercial offtake arrangement for battery-grade lithium production, financing or other investment in IRIS Metals or its affiliates. Read full announcement here - https://bit.ly/3Cqfd9H #ASXNews #batterysupplychain #deal Kevin Smith Matt Hartmann Stardust Power, Inc.