Australian company Lindian Resources Limited (ASX:LIN) has completed the third tranche payment of US$10.0 million as part of its acquisition of 100% ownership of Rift Valley Resources Developments Limited, which holds the globally significant Kangankunde Rare Earths Project. Lindian has now paid a total of US$20 million to Rift Valley, with a final payment of US$10 million due upon the start of commercial production at Kangankunde or by the end of July 2026, whichever comes first.
After the recent payment, Lindian legally owns 67% of Rift Valley's issued share capital, with the remaining 33% to be transferred upon the final payment. Lindian's Executive Chairman, Asimwe Kabunga, expressed satisfaction with the progress and highlighted upcoming milestones, including the reporting of a maiden Mineral Resource Estimate and updates on the construction and development of the Stage One on-site processing plant, all of which will be funded following a successful share placement in July 2023.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 20, 2024
Nov 20, 2024
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
