Just the facts: Lindian Resources advances Kangankunde pre-development
Published: 21:59 13 Jan 2025 EST
Proactive’s Tylah Tully breaks down ‘Just the Facts’ of the latest news from Lindian Resources Ltd (ASX:LIN, OTC:LINIF).
The company continues to advance development at the Kangankunde Rare Earths Project in Malawi.
Lindian has secured a US$50 million non-binding term sheet with Gerald Group for funding and offtake, with due diligence and technical reviews underway to finalise binding terms.
Workshops and a site visit are planned later this month, with progress on track within the funding exclusivity period.
The processing flowsheet has been optimised for greater cost efficiency and technical robustness, with final designs pending.
A diamond drilling program completed in November has provided key samples for metallurgical testing and marketing discussions.
The design and contract process for plant construction is nearing finalisation, with an award expected in the coming weeks, subject to funding.
A new site office has been completed and regulatory approvals for a site access road are secured, with contracts for its construction in progress.
Lindian has outlined an 18-month plan targeting production by mid-2026 and Stage 2 expansion studies by late 2025. A CFO recruitment process is underway to support funding and governance.
An investor webinar, scheduled for January 22, 2025, will provide updates on the project and introduce the newly appointed non-executive chair.
