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The latest update is out from Lindian Resources Limited ( (AU:LIN) ).
Lindian Resources Limited has successfully secured shareholder approval for a A$91.5 million institutional placement, which will fund the Kangankunde Rare Earths Project to completion and first production. The placement, comprising two tranches, was well-received, with demand exceeding expectations. This funding will cover the Stage 1 capital costs, increase Lindian’s ownership of Kangankunde to 100%, and support the project’s expansion and infrastructure development, positioning Lindian as a significant player in the rare earths market.
The most recent analyst rating on (AU:LIN) stock is a Buy with a A$0.93 price target. To see the full list of analyst forecasts on Lindian Resources Limited stock, see the AU:LIN Stock Forecast page.
More about Lindian Resources Limited
Lindian Resources Limited operates in the mining industry, focusing on the exploration and development of mineral resources. The company is primarily engaged in the production of rare earth elements, with a significant focus on the Kangankunde Rare Earths Project.
YTD Price Performance: 194.87%
Average Trading Volume: 5,374,964
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$308.2M
For detailed information about LIN stock, go to TipRanks’ Stock Analysis page.