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    US Elemental Nasdaq path and McDermitt lithium: project timing and risk notes for engineers

    June 8, 2026|

    Reviewed by Joe Ashwell

    US Elemental Nasdaq path and McDermitt lithium: project timing and risk notes for engineers

    First reported on MINING.com

    30 Second Briefing

    Jindalee Lithium will spin out its US assets into Nasdaq-bound US Elemental via a merger with a US-listed SPAC, retaining about 80% ownership and targeting a Q3–Q4 2026 listing as work accelerates at the McDermitt lithium project on the Oregon–Nevada border. A 2024 pre-feasibility study for McDermitt, one of the two largest known US lithium resources alongside Thacker Pass, outlined a 60+ year mine life from only part of the resource, with in-fill drilling and a full feasibility study scheduled for 2026–27. McDermitt’s inclusion in the FAST-41 federal permitting programme aims to secure key permits by end-2028, positioning the project ahead of many peers while remaining insulated from current construction cost spikes.

    Technical Brief

    • McDermitt is hosted in the McDermitt Caldera, the same volcanic system as Thacker Pass.
    • Incoming US Elemental CEO Ian Rodger states McDermitt and Thacker Pass are the two largest known US lithium resources.
    • Rodger claims the McDermitt Caldera holds more lithium than Chile’s Atacama region on a contained basis.
    • Jindalee completed a pre-feasibility study in late 2024, using only a fraction of the defined resource.
    • A major in-fill drilling campaign is scheduled for H2 2026 to upgrade resource confidence for feasibility.
    • Full feasibility study is planned to commence H2 2026, with completion targeted by end-2027.
    • McDermitt is among the first ten projects admitted to the US FAST-41 permitting streamlining programme.
    • Lithium Americas estimates tariffs and logistics issues could add up to US$120 million to Thacker Pass capex, illustrating cost risk context.

    Our Take

    With Jindalee Resources retaining an 80% stake in US Elemental post-merger, the Nasdaq route mirrors the HiTech Minerals–Constellation SPAC structure in the related April 2026 item, signalling that ASX-linked lithium juniors are increasingly using US listings to monetise large domestic US assets like McDermitt.

    McDermitt’s inclusion among the first ten FAST-41 projects in the USA places it in a small cohort of federally prioritised critical-mineral developments, which in our database tend to see shorter permitting timelines but tighter federal scrutiny on environmental and community impacts than non-FAST-41 peers in Nevada and Oregon.

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    Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.

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