Under the agreement, Lindian is to supply Iluka with 6000 tonnes per year of rare earth concentrate for 15 years, with the material serving as additional feedstock for Iluka’s Eneabba rare earths refinery, representing about 10 per cent of Eneabba’s capacity.
Additionally, the company’s A$91.5 million institutional placement in September at A$0.21 per share was heavily oversubscribed following its announcement in late August of a final investment decision and full funding for the project, with early construction works already in progress.
Yesterday’s announcement that Petra Capital has underwritten the remaining expiring December 2025 options for A$5 million and has also provided additional cash certainty during this critical execution phase.
With excellent infrastructure, strong government and community support and exposure to structurally supported neodymium-praseodymium (NdPr) rare earths pricing, Kangankunde looks poised to become one of the most important new rare earths mineral resources outside China.
Lindian now finds itself the full owner and operator of a fully funded, construction-ready tier-one rare earths asset, with impeccable timing amid current global tensions and supply uncertainties.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
