On February 13th, 2023, Jindalee Resources Limited (ASX: JRL) announced that it has entered into a Non-Binding Memorandum of Understanding (MOU) with POSCO Holdings Inc. (POSCO), a Korean conglomerate, to a joint research initiative aimed at optimizing the processing of ore from the McDermitt Lithium Project, which is 100% owned by Jindalee. According to the Memorandum of Understanding (MOU), Jindalee has agreed to provide a substantial composite sample from the McDermitt ore for testing at POSCO's research center in Korea.
POSCO will bear the cost of approximately AU$2.0 million for the testwork, which is expected to take around six months. Both companies will jointly evaluate the commercialization of the project upon completion of the testwork. Jindalee's Chairman, Justin Mannolini, expressed his satisfaction with the MOU, emphasizing that it presents an opportunity for Jindalee to investigate the potential of the McDermitt Lithium Project.
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