Lindian Resources
Primary ticker: ASX:LIN
Stage of development: Development
Primary minerals: Rare Earths; Bauxite
Project to promote: Kangankunde Rare Earths Project
Project location: Malawi
Website: www.lindianresources.com.au
Corporate presentation: Click here
Lindian Resources (ASX:LIN; OTCQB:LINIF) is an Australian based company with world class rare earths and bauxite assets in Malawi and Guinea. Through the development of these assets, Lindian aims to become a globally significant critical minerals producer.
Its The Kangankunde Rare Earths Project in Malawi is the cornerstone of Lindian’s asset portfolio. It is one of the world’s largest, rare earths deposit and is top tier in terms of high REO grade, and low levels of impurities and radioactive minerals. Kangankunde has impressive development and significant future expansion potential. A feasibility study on the Stage 1 development delivered outstanding technical and economic results (see ASX announcement 1 July 2024), including that Kangankunde has one of the lowest capital and operating cost structures of global rare earths projects.
The Kangankunde Project has access to good supporting infrastructure, strong community and government support and has all key licences and approvals in place to commence construction. Following the feasibility study, Lindian is now advancing project financing discussions with the aim to commence Stage 1 construction in 1H2025.
Lindian has bauxite assets in Guinea and Tanzania. Guinea is known as the premier bauxite location in the world, having high grade and low impurities premium quality bauxite. In Guinea, Lindian’s three bauxite assets have JORC compliant Mineral Resource Estimates (see ASX Announcements 6 October 2020, 22 October 2020 and 4 February 2021 for Resource statements and competent persons statement) and has recently secured a 10-year lease and royalty agreement on its Woula Bauxite project in Guinea, West Africa (see ASX Announcement 11 November 22024). In Tanzania, Lindian’s three bauxite assets consist of eight highly prospective tenements.
Cash: AUD$6.8M
Debt: NIL
Major shareholders:
Kabunga Holdings 10.89%
Bonacare 9.96%
Ven Capital 9.5%
Management Ownership- 9.99%
Financials
Management Profile
Alwyn Vorster – CEO
Alwyn Vorster is a thirty-year veteran of the mining industry and has a proven track record of leading companies through all phases of the mining value chain from exploration, project studies, approvals, development, infrastructure access, corporate transactions, to sales and shipping. His qualifications include a Bachelor of Science (Hons) Geology, an MBA and a Master of Science (Mineral Economics).
Most recently, Alwyn was Interim CEO at rare earths company Hastings Technology Metals Limited (ASX:HAS), where he participated in offtake and investment discussions with international rare earths traders and magnet companies, settled a new fixed price construction model for a staged development and established a high quality delivery team. He was previously Managing Director at iron ore/potash company BCI Minerals Limited (ASX:BCI) for 6-years, where he led the company from Mardie Project concept to feasibility to $1B funding and into construction.
Alwyn’s other CEO roles include Iron Ore Holdings Ltd, API Management JV and Oakajee Port and Rail JV (acting). His ASX non-executive director roles over the past 5-years include Volt Resources Ltd (graphite in Tanzania), ChemX Materials Ltd (manganese in Australia), Arrow Minerals (iron ore in Guinea). Alwyn’s primary focus at Lindian will be to leverage his rare earths, offtake, infrastructure access and project development experience to provide strategic advice in support of project activities in Malawi and Guinea.
What is your rationale for taking part in 121 Mining Investment?
Profiling Lindian’s great investment opportunity and to showcase how our world class assets will provide critical minerals to fuel the technologies of tomorrow, driving innovation and supporting the world’s energy transition.
What recent news would you like to highlight to investors attending?
December 2024 – Lindian Executes US$50M Non-Binding Term Sheet with Gerald Group
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
Finalise US$50M funding for Stage 1 development of Kangankunde rare earths project
6 Months:
Advance plant construction and mine development and mining lease extensions
12 Months:
Commence Stage 2 expansion studies and funding discussions
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
1. Power – looking at integrated sustainable power systems and sustainable solutions
2. Further developing local infrastructure to support mine staff eco system
3. Ensure key deliverables for Stage 1 development are on time
4. Secure long term offtake and funding partners for Stage 2 expansion.
What do you think makes your company such a compelling investment?
Lindian will commence construction of the Kangankunde Rare Earths Project in Malawi in 2025. The project is considered a globally significant tier one rare earths asset. The project metrics are some of the best in the world including; 1. Low-cost Stage 1 project. 2. Robust Stage 1 project economics. 3. Significant Stage 2 expansion potential 4. Short term path to production
What are the top 3 key investor takeaways?
1. A project with short-term low-risk earning capacity
2. A disruptor project that will challenge Chinese control of the REO global supply chain
3. Significant major expansion of centuries of production possible
4. World class highly experienced and capable management team.