Jindalee Resources Limited - JRL share price

About

Jindalee Resources Limited (ASX: JRL) is an exploration company with direct and indirect exposure to lithium, gold, base and strategic metals, iron ore, uranium and magnesite through projects generated by the Company’s technical team. Jindalee has a track record of rewarding shareholders, including priority entitlements to several successful IPO’s and payment of a special dividend. Jindalee’s strategy is to acquire prospective ground, add value through low cost exploration and, where appropriate, either introduce partners to assist in funding further progress, or fund this activity via a dedicated company in which Jindalee retains a significant interest. At 30 June 2020 Jindalee held cash and marketable securities worth $3.1M. On 14 September 2020, the Company announced a placement and entitlement offer to raise up to $1.85M (before costs). On completion of the raising Jindalee will have cash and marketable securities worth approximately $4.9M, which combined with the Company’s tight capital structure (only 44.7M shares on issue after the raising) provide a strong base for advancing projects currently held by Jindalee and leveraging into new opportunities.