Ann: Trading Halt, page-18

Listed rare earths and bauxite explorer Lindian Resources, whose shares are up 80 per cent this year, was preparing to raise at least $20 million on Monday morning.

Lindian Resources’ shares are up 80 per cent this year.

It is understood Lindian would use the proceeds to the come good on the third tranche of the $US10 million ($15 million) payment for its acquisition of Kangankunde rare earths project in Malawi announced a year ago.

The raising was expected to include funding for construction and working capital, which would take the deal size to more than $20 million.

It is due to begin civil works on a processing plant for Kangankunde in November, where it’s aiming for a 440,000 tonnes per annum initial throughput.

More to come

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