Lindian Raises A$6M via 17.3M Options After A$100M Placement
Lindian Resources raised A$6 million through exercise and underwriting of 17.3 million unlisted options at A$0.35 each following an A$100 million placement, leaving no options outstanding. Proceeds will fund Stage 1 of Kangankunde, support Stage 2 expansion and a Kazakhstan MREC facility development.
1. A$6 Million Raised Through Option Exercise and Underwriting
Lindian Resources completed the exercise and underwriting of 17.3 million unlisted options that expired on April 3, 2026, raising approximately A$6 million at A$0.35 per share and leaving no options outstanding. Settlement of underwritten shares is scheduled for around April 14, and, together with a recent A$100 million placement, the proceeds will accelerate Stage 1 construction at Kangankunde and support Stage 2 expansion.
2. Appointment of CFO Derek Bideshi
Lindian has appointed mining finance executive Derek Bideshi as chief financial officer, effective July 6, bringing over 18 years of international mining experience from senior roles at Iluka Resources, South32 and BHP. His addition aims to strengthen financial leadership as the company advances toward first concentrate production at Kangankunde.
3. Binding Term Sheet for Kazakhstan MREC Plant
The company signed a binding term sheet to establish a joint venture in Kazakhstan, acquiring a controlling interest in an operating mixed rare earth carbonate facility. Under the structure, Lindian would hold 51% and RA Group 49%, targeting commercial MREC production by Q4 2026 following acquisition of the SARECO hydrometallurgical plant in Stepnogorsk.