Lindian Resources: Kangankunde rare earths project advances despite net loss

Lindian Resources Limited reported a net loss after taxation of $9,292,227 for the financial year ended June 30, 2025, with net assets totaling $58,358,833. The company successfully raised $91.5 million in equity after the reporting period and secured a $20 million construction loan facility through a strategic partnership with Iluka Resources Ltd. This funding will support the full development of Stage 1 of the Kangankunde Rare Earths Project in Malawi, with first production targeted for Q4 2026.

Key operational advancements included the completion of early construction works at Kangankunde, progression of the five-kilometre main access road, and commencement of haul road construction. Post-year end, Lindian received approval for a Stage 2 Mining Licence expansion, increasing the project area from 900 hectares to 2,500 hectares. Additionally, the company acquired the remaining 25% interest in the Lelouma Bauxite Project in Guinea, securing 100% ownership of its 900 million tonne JORC compliant resource.

The company also commenced downstream test work with the Australian Nuclear Science and Technology Organisation (ANSTO) for its monazite concentrate, aiming to determine optimal processing pathways. For the year, basic and diluted loss per share stood at $0.80.