Jindalee to raise cash for McDermitt lithium project

Exploration company Jindalee Lithium is seeking to raise up to A$6.7-million to advance work at the McDermitt lithium project, in the US. The capital raise will consist of three elements, including a placement of about A$600 000 to institutional investors, directors and management at A$0.30 a share with attaching options, a nonrenounceable rights issue to existing shareholders on a one for six basis at the same price and a funding facility for the balance.