Lindian offers a Tier 1 project with near-term production, a fully-funded pathway, and a credible strategic partner in Iluka, a combination that rarely comes at this stage of development.
Lindian Resources Limited (ASX:LIN)
LIN
Lead Manager
Contact - Jake Grbavac
0474 484 982
jake@liquidity.com.au
Offer Price
A$0.750
per share
Offer Size
A$100,000,000
Offer Details
Issue Price (Per Share)
A$0.750
Discount
12.28%
Offer Size
A$100,000,000
Shares Available
133,333,333
A$100m single tranche placement (~133m shares), with the ability to accept overs. The Company also intends to underwrite conversion of LINAW options.
- 15.3% discount to last close
- 3.2% discount to 10 VWAP
Documents & Downloads
Company Overview
Lindian Resources is an Australian-listed rare earths developer, focused on becoming a Western-aligned supplier of critical NdPr materials to support global electric vehicle and clean energy demand. The company's flagship asset is the Kangankunde Rare Earths Project in Malawi, a world-class, NdPr-dominant carbonatite deposit, complemented by a downstream processing strategy and a landmark strategic partnership with ASX-listed Iluka Resources.
Kangankunde Project & Growth Strategy
Kangankunde is a Tier 1 rare earths asset in Malawi, offering exceptional project economics and a clear pathway from construction to large-scale production:
- Resource & Costs: 261 Mt mineral resource (5,585 Kt TREO) with lowest-quartile operating costs of US$2.92/kg TREO
- Stage 1 Economics: 20ktpa under construction with US$40m capex, ~12-month payback, pre-tax NPV of US$794m and IRR of 99%
- Iluka Partnership: Stage 1 fully funded via a US$20m non-dilutive loan, backed by a 15+15 year offtake agreement to supply the government-backed Eneabba Rare Earths Refinery, with floor price protection linked to NdPr oxide pricing
- Stage 2 Expansion: Fully permitted 100ktpa expansion with FID targeted December 2026, representing a five-fold increase in production capacity
- Downstream Integration: 51% JV acquisition of the SARECO Cracking & Leaching Plant in Kazakhstan to enable MREC production from 2026, capturing additional downstream processing margin
Use of Funds
Use of Funds
1.
Kangankunde Rare Earths Project & MREC Facility in Kazakhstan
2.
Stage 2 expansion DFS
3.
Accelerating Stage 2 enabling works
4.
Working capital & other strategic initiatives
Disclaimer
This site does not constitute an offer, recommendation, or invitation to any person, nor does it purport to provide all of the information an interested party may require in order to investigate the affairs of Lindian Resources Limited. This site is provided for information only and has not been prepared with the intention that the recipient should rely on it. Liquidity Technology Pty Ltd ("Liquidity") does not make any representation in relation to the contents of this site or give any assurances as to the accuracy or the degree of care or diligence used in preparing this document. The information, data, and advice herein is provided to recipients on the clear understanding that Liquidity nor any of its representatives, directors, officers, employees, agents, or advisers makes any representation or warranty about its accuracy, reliability, completeness, or suitability for any particular purpose and does not accept liability (including, but not limited to, for any expenses, losses, damages, and/or costs (including, but not limited to, indirect or consequential damage)) nor take any responsibility of any kind whatsoever (including, but not limited to, whether in contract, tort, financial or otherwise) for the information, data, or advice contained in or for any omission or for any other information, statement, or representation provided to any recipient (including, but not limited to, as a result of information, data, or advice being inaccurate, unreliable, incomplete, or unsuitable in any way and for any reason whatsoever). Users of this site must conduct their own investigation and analysis regarding any information, statement, or representation contained or provided to any recipient or its associates by Liquidity or any of the Liquidity Personnel. Each recipient waives any right of action, which it has now or in the future against Liquidity or any of the Liquidity Personnel in respect of any errors or omissions on or from this site, however caused. All rights are reserved. If the whole or any part of a provision of this "Notice and Disclaimer" is invalid, illegal, or unenforceable, then such provision will be severed and neither that part or provision or its severance will affect the validity or enforceability of the remaining parts or provisions.
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