Iondrive (ASX: ION): #1 on the FMP Momentum List as the First Five-Tonne IONSolv Campaign Is Commissioned

Written by Christopher Hall, AdvDipFP | Authorised Representative, AFSL 526688 | August 2026

Iondrive Limited (ASX: ION) is an Adelaide-based critical-minerals technology company that recovers rare earths from end-of-life permanent magnets and electronic waste using its proprietary IONSolv process. As at 11 August 2026, Iondrive ranked #1 on the Finer Market Points ASX momentum list with a quarterly return of 143.48%, the fifth-highest quarterly return of any stock measured on that list that week.

The catalyst: a five-tonne production campaign

On 3 August 2026, Iondrive commissioned its first five-tonne IONSolv production campaign, targeting approximately 1.4 tonnes of mixed rare earth oxide (MREO) in Q4 CY2026. It will process approximately 5.0 tonnes of end-of-life permanent magnet feedstock assaying approximately 30% rare earth oxide at a targeted overall flowsheet recovery of approximately 95%, at Kingston Process Metallurgy Inc's third-party facility in North America. That follows the 15 June 2026 announcement of unaudited single-pass leach recoveries of 93.5% dysprosium, 96.5% neodymium and 96.5% praseodymium from commercial US e-waste feedstock — figures Iondrive states are leach efficiencies, not overall process recovery.

Dr Grant Caffery, Chief Executive Officer of Iondrive, said in the 3 August 2026 announcement:

"This campaign is intended to take Iondrive from kilogram-scale validation to a target of approximately 1.4 tonnes of MREO product in Q4 CY2026."

Two earlier dated items sit behind it. On 29 June 2026, the Oklahoma Department of Commerce identified state and local incentive programs valued at up to approximately US$5.2 million for Iondrive's first commercial module, scaling to more than US$15 million across three modules — indicative, non-binding estimates rather than a committed grant. In its 31 July 2026 quarterly report, Iondrive disclosed a cash balance of A$6.969 million at 30 June 2026 against June-quarter net operating cash outflows of A$1.393 million, which the Appendix 4C states is 5.0 quarters of funding.

The momentum reading, including the pause

The picture is not one-directional. In the week to 11 August 2026, Iondrive eased 1.75% and ranked 449th by weekly return while ranking 5th by quarterly return on the same Finer Market Points dataset. Closing prices roughly doubled between 20 July and 7 August 2026 on stockanalysis.com daily closes, and a comparable pause of about a week followed the early-July advance. A momentum-list appearance measures recent price behaviour over a defined window, not company quality or investment merit; the pause is recorded here as documented price action, not as a response to any single event.

Key metrics

Metric	Value
Rank (FMP momentum list, 11 August 2026)	1
Momentum score	0.45
Weekly return (rank 449)	−1.75%
Quarterly return (rank 5)	+143.48%
Trading sessions on the FMP Top 30	38
Trading sessions since Launch Pad entry	41
Return since Top 10 Launch Pad entry	+166.67%
Sector (plain English)	Rare-earth and battery-metals recycling technology
Data source	FMP Momentum Research, 11 August 2026

Iondrive has appeared on the Finer Market Points weekly Top 10 on 4 July, 25 July, 1 August and 8 August 2026, holding rank #1 across the three most recent readings. The full board sits on the weekly Top 10 momentum list.

Remember that past performance is no guarantee of future results, and all trading involves risk.

Frequently Asked Questions

What does Iondrive (ASX: ION) do?

Iondrive Limited is an Australian critical-minerals technology company developing IONSolv, a deep eutectic solvent process for recovering rare earths and battery metals from end-of-life permanent magnets, e-waste and spent lithium-ion batteries. Rare earths are its stated lead commercial vertical, and its proposed first commercial module in Oklahoma is planned to process approximately 2,000 tonnes of magnet feedstock annually (ASX announcement, 3 August 2026).

Is Iondrive a rare earth producer?

No. As at its 3 August 2026 announcement, Iondrive is a pre-commercial technology developer, not a producer. Its first five-tonne campaign targets approximately 1.4 tonnes of MREO in Q4 CY2026 for customer qualification, and the company states it is a batch program that does not begin continuous commercial operations — those remain subject to engineering, funding, permitting, construction and a final investment decision that has not been made.

Why has Iondrive's share price gone up so much?

Iondrive recorded a quarterly return of 143.48% as at 11 August 2026 on Finer Market Points momentum data. That quarter coincides with four dated announcements: leach recoveries of 93.5% dysprosium reported on 15 June 2026, an Oklahoma Department of Commerce letter of support on 29 June 2026, Dr Grant Caffery's appointment as CEO effective 1 August 2026, and the five-tonne campaign commissioned on 3 August 2026. That is documented coincidence in timing; no causal attribution to any single announcement is made here.

Why is Iondrive in the Finer Market Points Top 10?

The Finer Market Points momentum list ranks ASX stocks on a composite momentum score. As at 11 August 2026, Iondrive scored 0.45 and ranked #1, having spent 38 trading sessions on the Top 30 and 41 trading sessions since entering the Launch Pad, over which it has returned 166.67%. Inclusion reflects measured price momentum across those windows only.

Is Iondrive a top ASX rare earth stock?

Iondrive is one of several ASX-listed names with rare-earth exposure, and it reached its momentum ranking through recycling and recovery technology rather than mining. A momentum-list appearance measures recent price momentum over a defined period, not company quality, balance-sheet strength or investment merit. This is general educational information, not a recommendation.

Access the weekly momentum data

FMP members access the weekly Top 30 ASX momentum data — the same proprietary research that flagged Iondrive — 19 hours before the Gary Glover weekly session goes live. Find out more about FMP membership.

Sources

#	Source	Type
1	Iondrive Limited, ASX announcement, 3 August 2026 — "Iondrive Commissions Five-Tonne IONSolv™ Production Campaign in North America"	Company announcement
2	Iondrive Limited, ASX announcement, 31 July 2026 — Quarterly Activities Report and Appendix 4C, quarter ended 30 June 2026	Company announcement
3	Iondrive Limited, ASX announcement, 20 July 2026 — "Former BHP Head of Innovation, Dr Grant Caffery, Appointed CEO"	Company announcement
4	Iondrive Limited, ASX announcement, 29 June 2026 — "Oklahoma Department of Commerce Supports Iondrive's Rare Earth Recycling Roll-Out"	Company announcement
5	Iondrive Limited, ASX announcement, 15 June 2026 — "IONSolv™ Achieves 93.5% Dysprosium Recovery from Commercial US E-Waste"	Company announcement
6	Finer Market Points Momentum Research — weekly ASX momentum dataset as at 11 August 2026	Proprietary data
7	stockanalysis.com — Iondrive Limited (ASX: ION) daily closing prices, 1 July – 11 August 2026	Market data

Educational Disclaimer: This content is for educational purposes only and does not constitute financial advice. Past performance is no guarantee of future results. Consider your financial situation and seek professional advice before making investment decisions.

Finer Market Points Pty Ltd, CAR 1304002, AFSL 526688, ABN 87 645 284 680. This general information is educational only and not financial advice, recommendation, forecast or solicitation. Consider your objectives, financial situation and needs before acting. Seek appropriate professional advice. We accept no liability for any loss or damages arising from use. Authors and presenters may hold positions in discussed companies and investment products.