ioneer Ltd is a mineral exploration and development company focused on advancing the Rhyolite Ridge lithium-boron project in Nevada toward commercial production. The company is currently pre-revenue and operating at the development stage, having completed a feasibility study and received regulatory approval, with primary activities centered on permitting, engineering, and project advancement. Future revenue will come from the sale of lithium and boron products once mining operations commence, requiring substantial capital investment from strategic partners and financing sources to support development costs.