• Successful A$100 million placement from institutional investors
• Fully funds Kangankunde Stage 1 and Stage 2 expansion, and SARECO MREC facility
• Accelerates development and reduces execution risk across operations

Lindian Resources Limited (ASX: LIN) has received firm commitments to raise approximately A$100 million (gross before costs) via a single tranche placement to institutional investors and strategic critical minerals funds. The placement was strongly supported, with demand significantly exceeding the funds sought. The placement issue price of A$0.75 per new share represents a tight discount and premium to the VWAP. The placement proceeds will be applied to Kangankunde Stage 1 to remove the requirement for drawdown of the Iluka debt facility, Kangankunde Stage 2 expansion and DFS to accelerate expansion, and the SARECO MREC facility to advance downstream processing capability, operational readiness and integration. The placement establishes a fully funded, debt-free pathway to first production and cash flow across Stage 1 and the SARECO MREC facility, and allows Lindian to accelerate development, bring forward key activities and materially reduce execution risk. The company is now well positioned to advance a DFS for the Stage 2 expansion, with a targeted Final Investment Decision in December 2026.

Lindian expects to immediately progress to a DFS for the Stage 2 expansion, with a targeted Final Investment Decision in December 2026. The company is targeting an additional 100,000 tonnes per annum of process plant capacity in regard to monazite concentrate through the Stage 2 expansion.

With increasing scale, liquidity and institutional ownership, Lindian is rapidly establishing itself as a globally relevant rare earths platform and strengthening its positioning within the ASX. The placement allows the company to move faster, execute with greater certainty and unlock the next phase of growth across both upstream and downstream operations.