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ioneer director Alan Davies steps up and buys shares on market

The share purchase further aligns the board member with shareholders.
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The company's flagship project was valued at up to US$1.82 billion

ioneer Ltd (ASX:INR) non-executive director Alan Davies has purchased 211,100 shares at an average price of 17.9 cents.

The purchase is worth $37,786 and increases Davies’ holding in the company to 2.36 million shares.

READ: ioneer’s high-grade lithium-boron drill results indicate potential to improve cash flow

ioneer is developing its flagship Rhyolite Ridge Lithium-Boron Project in the US state of Nevada, which had a pre-feasibility study (PFS) completed on it in October 2018.

The PFS demonstrated the Rhyolite Ridge project’s scale, long life and potential to become the lowest cost lithium producer in the world.

The study modelled a two-stage mine development – a starter pit covering the first seven years and an expanded pit covering a mine life of over 30 years.

A US$1.82 billion after-tax net present value (NPV) was estimated for the mining operation as part of the PFS.

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