Lindian Resources Ltd (ASX:LIN) CEO Alistair Stephens tells Proactive the company has raised $8.5 million (before costs) through a non-brokered private placement. A binding commitment from executive chairman Asimwe Kabunga for an additional $500,000 shows management’s confidence in the program and takes the total placement value to $9 million. Funds will go towards rapid progression of plans for a Stage 1 rare earths concentrate processing facility at its fully permitted, Kangankunde Rare Earths Project in Malawi.
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