• Signed US$50M non-binding term sheet with Gerald Group for Kangankunde Rare Earths Project
• Nearing completion of process plant flowsheet optimisation and D&C contract discussions
• Signed 10-year lease and royalty agreement for Woula bauxite project in Guinea

Lindian Resources Limited (ASX: LIN) has reported on its activities during the quarter ended 31 December 2024. Key highlights include the execution of a US$50M non-binding term sheet with leading global trading house Gerald Group for funding and offtake of the Kangankunde Rare Earths Project in Malawi. Lindian continues to advance negotiations and finalise details of the binding terms, as Gerald Group's technical team and their external engineering group commence internal meetings and due diligence. The company has also undertaken an extensive review and optimisation of the processing flowsheet proposed in the Feasibility Study, resulting in a more cost efficient and technically robust flowsheet. Discussions and finalisation on the final price and schedule for the Design and Contract (D&C) process plant have also advanced significantly. In Guinea, Lindian has signed a binding 10-year lease agreement and royalty deed for the Woula bauxite project. During the quarter, Lindian also announced the resignations of the Executive Chairman and Executive Director, and the appointment of a new Non-Executive Chairman and Non-Executive Director. The company had $6.8M in cash at the end of the quarter.