Lindian Raises A$100M Placement to Fully Fund Kangankunde and MREC Expansion
Lindian Resources raised A$100 million at A$0.75 per share in an oversubscribed institutional placement to fully fund Stage 1 of its 20,000 tpa Kangankunde rare earths project and advance Stage 2 expansion and SARECO MREC integration debt-free. Pro-forma market capitalization rises to around A$1.6 billion.
1. Institutional placement completed
Lindian Resources secured firm commitments to raise A$100 million through an institutional placement priced at A$0.75 per share. The placement was oversubscribed by domestic and offshore investors, reflecting strong appetite for near-term rare earths producers.
2. Funding deployment strategy
Proceeds will fully fund Stage 1 of the 20,000 tonnes per annum Kangankunde project, accelerate Stage 2 expansion studies targeting an additional ~100,000 tpa of monazite concentrate through a modular approach, and integrate the SARECO mixed rare earth carbonate (MREC) processing facility in Kazakhstan.
3. Strengthened financial position
The capital raise secures a debt-free pathway to first production and cash flow, strengthens Lindian’s balance sheet, increases its pro-forma market capitalization to approximately A$1.6 billion, and enhances its case for inclusion in major ASX indices.