Jindalee Resources Limited advised that it has signed a Non-Binding Memorandum of Understanding with POSCO Holdings Inc. Under the terms of the MOU POSCO and Jindalee agree to undertake joint research designed to optimise the flowsheet for processing ore from Jindalee's 100% owned McDermitt Lithium Project (USA). Jindalee will provide a large composite sample from McDermitt for testing at POSCO's research facility in Korea. This MOU follows initial analysis of a smaller sample of McDermitt ore undertaken by POSCO in 2022.

POSCO advises that testing of the McDermitt ore will investigate three separate metallurgical processes. The testwork is expected to take approximately six months at a cost of approximately AUD 2 million, which will be funded entirely by POSCO. POSCO and Jindalee will jointly evaluate the commercialisation of the Project following completion of the testwork.