(NewsDirect)
Lindian Resources Ltd(ASX:LIN) CEO Alistair Stephens speaks with Proactive after securing acrucial A$35 million investment from institutional investors andsophisticated stakeholders in a heavily-bid placement, bulking thecompany's financial clout to advance the globally-significantKangankunde Rare Earths Project in Malawi.
The funds put thecompany in its best-ever financial position and will allow it to paythe third tranche of US$10 million for the 100% acquisition of RiftValley Resource Developments Ltd, the owner of the Kangankundeproject.
Lindianexecutive chair Asimwe Kabunga said: "This placement is anexceptionally good outcome for Lindian and we are pleased to welcome anumber of respected and reputable domestic and offshore institutionalinvestors to our register.
“Theconsiderable interest received is clear recognition that Kangankundeis a globally significant rare earths project of considerable scaleand grade, and the potential for Lindian to be a major supplier ofneodymium-praseodymium to the global economy in the nearfuture.”
ContactDetails
Proactive Investors
JonathanJackson
+61 413 713 744
jonathan@proactiveinvestors.com
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