ION Hits 52 week highs
Iondrive (ASX: ION) was our most recent Investment.
ION is developing recycling tech which takes black mass (shredded used batteries) and recovers battery grade lithium, nickel, manganese and cobalt.
We think recycling tech will be a big macro thematic across critical minerals supply chains for the 5 years leading up to the end of the decade.
ION didn't have any news out over the holiday period BUT the share price performed strongly.
Our Initial Entry in ION was 1.4c per share, and over the holiday period ION hit new 52 week highs at ~3.2c per share.
ION raised $6M at 1.4c per share (our Initial Entry Price) so the company should be pretty well funded to start designing and hopefully constructing its pilot plant in 2025.
(Source)
What’s Next for ION?
We want to see ION firm up the economics of its recycling plant - to help build confidence in the market that the project can become profitable as it scales up.
Objective #1: Publish economics on recycling plant projects.
ION is currently undertaking an economic study to evaluate the NPV and IRR of its recycling plant. This will provide us with a much better picture of the potential economic upside of the project.
Milestone
🔄 Economic modelling of Net Present Values
Source: 3rd December 2024 ION Investment Memo
Check out our full initiation note on ION to see all of the reasons why we Invested in the company.
