Lindian Resources announces a placement to raise AU$16.0 million

Lindian Resources Limited (ASX: LIN) announced that it had received binding commitments from new and previous sophisticated investors to raise AU$16.0 million via the placement. The placement includes the issue of approx. 76.19 million fully paid ordinary shares at AU$0.21 per new share.

Proceeds from the placement will be used towards the US$7.5 million second tranche payment for the 100% acquisition of Rift Valley Resource Developments Limited, which owns the globally significant Kangankunde Rare Earth Mining Project in Malawi. The remaining amount raised is being used to increase the mine development drilling program at Kangankunde, for general working capital requirements and the placement cost.

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