Here’s how this ASX lithium stock performed on its US debut

The Ioneer Ltd (ASX: INR) share price is on course to end the week on a positive note.

In morning trade, the lithium developer’s shares are up 3.5% to 42.5 cents.

Why is the Ioneer share price rising?

Today’s gain appears to have been driven by news that the Ioneer share price had a solid debut on the Nasdaq index overnight.

The US-based emerging lithium–boron supplier commenced trading on the Nasdaq under an American Depositary Receipt (ADR) listing and ended the day 5% higher.

Ioneer’s Managing Director, Bernard Rowe, believes the secondary listing will be a boost to the company. He explained:

We believe this secondary listing will be greatly beneficial to the Company and its shareholders. There is a growing desire among North American investors to take part in the clean energy supply chain. We are pleased ioneer will gain greater visibility through a leading North American capital market trading platform that is suited for future-forward companies like ours.

What is Ioneer?

Ioneer is the company behind the Rhyolite Ridge lithium-boron operation in Nevada, USA. This is the only known lithium-boron deposit in North America and one of only two known deposits worldwide.

Management expects the operation to come on stream in 2025, making it a major domestic supplier of refined lithium and boron products. In fact, it estimates that it will produce enough supply of lithium materials for approximately 400,000 electric vehicles each year.

Ioneer Executive Chairman, James Calaway, said:

Rhyolite Ridge is a world-class lithium project and ioneer is ideally positioned to play a major role in the energy transition. We believe making it easier for North American capital market participants to invest in ioneer is consistent with our ambition to produce materials necessary to develop electric vehicle and renewable energy supply chain infrastructure in North America.

The post Here’s how this ASX lithium stock performed on its US debut appeared first on The Motley Fool Australia.

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More reading

• 3 ASX All Ordinaries shares that leapt more than 10% on Thursday
• What’s boosting the Ioneer share price 14% higher?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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