US Elemental Inc., a lithium developer backed by Jindalee Lithium Ltd., announced in early April plans to go public on NASDAQ. This is a major step for the new company and the McDermitt Lithium Project, which holds a mineral resource of approximately 21.5 million tonnes of lithium carbonate equivalent. Located in Oregon, the deposit is one of the largest in the U.S.
“Establishing US Elemental as a U.S.-listed company represents an important milestone in unlocking the value of our U.S. lithium assets,” commented Ian Rodger, Chief Executive Officer of Jindalee and incoming Chief Executive Officer of US Elemental. “We believe the McDermitt Project is one of the largest lithium resources in the United States, and this Transaction is expected to position the Company to access the capital and strategic partnerships needed to advance development. We believe a U.S. listing provides stronger alignment with investors, policy initiatives and industrial partners focused on building a secure domestic critical minerals supply chain.”