Ann: Lindian Secures $9.0M Placement at 26 cents per Share, page-6

Well that was a surprise.

Glad to see just 2 investors have taken part only. The BIG funding deal will happen in the coming months.

Commitments received for non-brokered placement of $9.0 million at 26 cents per Share, a ~10.5% premium to Lindian’s last closing price of 23.5c on 24 March 2023. These are not flippers, but serious investors!!

The commitments received are from two new investors with one investing $7.5 million and the other $1 million.

Lindian is rapidly progressing its plans for a Stage 1 Rare Earths concentrate processing facility at its fully permitted, Kangankunde Rare Earths project in Malawi. This Placement will allow the Company to fast-track the securing of key equipment and long lead time items that underpin the Company’s plan of Stage 1 being operational during 2024. A more comprehensive update on Stage 1 will be provided in due course.


Lindian also confirms that it has has received significant interest from rare earths industry participants interested in participating in the Project including funding and off-take, which has included hosting participants at site keen to view first-hand the scale of the project and the unique high-grade, nonradioactive mineralisation.