Lindian Resources secures A$91.5m institutional placement

Lindian Resources Limited (ASX: LIN) announced on September 8, 2025, that shareholders approved a A$91.5 million two-tranche institutional placement to new institutional investors at an Extraordinary General Meeting (EGM). The placement, comprising 435.7 million new shares at A$0.21 per share, represents a 48% premium to the 20-day volume-weighted average trading price.

The EGM results confirmed the ratification of Tranche 1 (139.8 million new shares) and the approval of Tranche 2 (295.9 million new shares). Settlement for Tranche 2 is scheduled for Friday, September 12, 2025, with allotment on Monday, September 15, 2025.

This funding fully finances the Kangankunde Rare Earths Project to project completion and first production, targeting Q4 CY 2026. Key applications of the funds include the Stage 1 capital cost of ~US$40 million, increasing ownership of Kangankunde to 100%, and completing engineering works for Stage 2 expansions.