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ASX: LIN - Lindian Resources

Updated: May 2

Lindian Resources: 1st rare earths offtake deal done and dusted

Lindian Resources CEO Alistair Stephens on 3AW, 2GB, 4BC & 6PR Bulls N' Bears Report

Listen to ASX-listed Lindian Resources CEO Alistair Stephens talk to Matt Birney on the Bulls N’ Bears Report about Lindian’s massive rare earths project and the London headquartered metals trader lining up to buy the offtake.


Lindian Resources made a name for itself recently with its Kangankunde rare earths project in Malawi when it tabled a massive maiden mineral resource. The project boasts some off-the-scale drill results that are simply eye-watering and unlike some other really long mineralised drill intersections from other ASX-listed companies, Lindian’s also have grade. Notably, the company has just signed an offtake agreement with a global metals trader for monazite rare earths concentrate and its game on now.


Matt Birney - Welcome to Bulls N' Bears brought to you today by Lindian Resources

Matt Birney - ASX code: LIN

Matt Birney - I'm Matt Birney and I'm joined now by the CEO of Lindian Resources, Alistair Stephens

Matt Birney - Hi Al

Alistair Stephens - Hi

Matt Birney - Okay, so Lindian Resources made a name for itself recently with its Kangankunde rare earths project in Malawi, when it tabled a massive maiden mineral resource.

Matt Birney - The project boasts some off-the-scale drill results that are simply eye-watering and unlike some other really long mineralised drill intersections from other ASX-listed companies, Lindian’s also have grade.

Matt Birney - Notably, the company has just signed an offtake agreement with a global metals trader for a monazite rare earths concentrate and its game on now.

Matt Birney - Okay Al, we'll get into that offtake agreement in just a moment but firstly remind me of the maiden resource estimate at Kangankunde. It's pretty big if I recall.

Alistair Stephens - That's right, 261 million tonnes at 2.2 per cent of total rare earth oxide, which means that it contains 5.7 million tonnes of total rare earth oxide contained.

Alistair Stephens - Within that, what's really important is, 1.2 million tonnes of this mineral called neodymium praseodymium. That's the metal we need for the electric car market, so it's a really valuable and important discovery.

Matt Birney - Okay now you recently tabled in biblical scale rare earths drill hits at this project, the likes of which I've never seen I might add. What were the best of them?

Alistair Stephens - Well, that first hole we published was 854 meters at 2.73 per cent total rare earth oxide, the second hole which was a thousand-meter hole, had the spectacular intersection there of 652 meters at 3 per cent total rare earth oxide, that's probably one of the best, most historically famous intersections, sitting within a whole interval of a thousand meters at 2.6 total rare earth oxide.  

Alistair Stephens - That is historic. That sits below the MRE so it's additional mineralisation to the MRE

Matt Birney - Okay so Lindian has just signed up an off-taker that will buy a rare earths concentrate from you. Who are they and what are their bona fides?

Alistair Stephens - Their name is Gerald Group, they are originally a US-based but now UK-housed trading group. They're an independent group. They're employee-owned and they trade many bulk commodities across the globe.

Matt Birney - And how much product have they committed to buy and over what period of time?

Alistair Stephens - They're buying 45,000 tonnes of monazite or total rare earth oxides in monazite concentrate over a five-year period, which we can deliver earlier if we want to.

Matt Birney - How much does monazite concentrate sell for a tonne today?

Alistair Stephens - Well it depends upon the quality and the grade of the material and it's fortunate that Kangankunde has a high-quality, high-purity material so we'd be expecting low range end or around about $10,000 a tonne with an upper range of somewhere around 15 to 20,000 tonnes and it's linked to the NdPr price so it increases in value as price goes up.

Matt Birney - Very quickly, can you get any of that money upfront in this deal?

Alistair Stephens - Indeed we can, we've actually negotiated the fact that we could actually source a 10 million dollar US deal or 15 million Australian which would help funding in development.

Matt Birney - Alistair Stephens from Lindian Resources

Matt Birney - Thanks for joining me on Bulls N' Bears and remember we're only here to give you information, not advice, which you should of course seek independently.

Matt Birney - I'm Matt Birney and this is Bulls N' Bears

Outro - For more public company interviews go to the money page on the 6PR, 2GB, 3AW and 4BC websites and click the public companies tab

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