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Ann: Outstanding Kangankunde Stage 1 Feasibility Study Results, page-200

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    From: Canaccord - first look 1 July 2024

    Valuation and recommendation

    Our price target of $0.50 remains unchanged with our price target is based on a partially funded, heavily risked NPV10% for Kangankunde using a long-term NdPr price of US$120/kg China EXW.

    We will undertake more detailed analysis of the study, but at first look, the study sets a strong foundation for LIN's development plans at Kangankunde, in our view. Maintain SPECULATIVE BUY.
 
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