Quarterly Activities/Appendix 5B Cash Flow Report
| Stock | Lindian Resources Ltd (LIN.ASX) |
|---|---|
| Release Time | 30 Oct 2025, 8:14 a.m. |
| Price Sensitive | Yes |
Lindian Achieves Key Milestones for Kangankunde Rare Earths Project
- Entered strategic partnership with Iluka for funding and offtake
- Completed A$91.5m institutional placement and announced Final Investment Decision
- Expanded Kangankunde mining licence to support Stage 2 expansion
Lindian Resources Limited (ASX:LIN) achieved a series of significant milestones during the September 2025 quarter, redefining the company's trajectory and positioning the Kangankunde Rare Earths Project as a globally significant development. Key achievements include: 1) Entering a long-term strategic partnership with Iluka Resources, securing a US$20m construction loan facility and a 15-year offtake agreement for premium monazite concentrate. 2) Completing a A$91.5m institutional placement, with strong demand from new Australian and international investors, enabling the Final Investment Decision for Stage 1 of Kangankunde. 3) Receiving approval to expand the Kangankunde Mining Licence from 900 hectares to 2,500 hectares, providing the footprint to support a major Stage 2 production expansion. 4) Appointing DRA Pacific to undertake the Kangankunde Stage 2 Expansion Study, evaluating production scenarios of 50,000 to 100,000 tonnes per annum of concentrate. 5) Transitioning to an owner-operator mining model at Kangankunde, expected to reduce mining costs by approximately 30%. 6) Strengthening the leadership team with the appointment of Executive Director Zac Komur and Mining Manager Samuel Boachie, bringing extensive global project delivery and operational experience. With these milestones achieved, Lindian remains firmly on track to commence production at Kangankunde in Q4 2026, cementing the project's position as one of the world's next major rare earth mines.
Lindian remains focused on maintaining schedule, budget, and quality discipline as Kangankunde advances through execution readiness. The company is also progressing the Stage 2 expansion study, evaluating production scenarios of 50,000 to 100,000 tonnes per annum of concentrate, to position Kangankunde as one of the world's most significant rare earths projects.