Not sure if people have seen this (sorry if someone else has...

Not sure if people have seen this (sorry if someone else has posted it)
Lindian Resources (ASX:LIN)A pre-feasibility study for Stage 1 of Lindian’s Kangankunde rare earths project in Malawi have returned economically viable results that show an internal rate of return of a whopping 80%, predicting the project would be one of the cheapest operations in the world.The PFS shows a maiden ore reserve of 23.7Mt could be used to produce ~15,300tpa of concentrate with a 55% TREO grade, resulting in the sale of ~8,400tpa of rare earths oxides and ~1640tpa of NdPr.LIN says the project now boasts a net-present value of $831m with development costs coming in at just $60m and average all in sustaining costs over the life of the mine of just US$3.7/kg ($5.5/kg).NdPr prices in China are sitting at around US$50/kg, levels at which few current producers are profitable. But Lindian says at current prices Kangankunde would make around US$11m in average annual EBITDA.It has used much higher prices in the study based on forecasts from Project Blue, anticipating shortages of NdPr will drive the magnet metals above US$100/kg in the 2030s, with average annual EBITDA of US$84m ($124.5m) over the life of mine. We’ll see.With a payback period of just two years for its 45-year mine life, the post-tax NPV-to-capex is over a 10:1 ratio – a value representation not often seen in the mining industry.“We have been discussing funding options for Stage 1 with several parties over a number of months and the PFS is the key catalyst to progress these negotiations, as well as attract new funding interest,” CEO Alwyn Vorster says.Could Kangankunde sit this low on the cost curve??? Pic: LINThe strong economics, Lindian says, also provide confidence for a potential Stage 2 expansion that would increase annual production.With key approvals are in place and construction contract talks in motion, the explorer-turn-developer is now in search of funding for the project.Shares in the $150m market-capped company are up 33% to 14c in morning trade.