Lindian Resources' Kangankunde Operations Update: Advancements Toward Rare Earths Production

Lindian Resources Limited (ASX: LIN) spearheads advancements in the Kangankunde Rare Earths Project in Malawi, unveiling a series of significant achievements and a roadmap poised for groundbreaking accomplishments in 2024. The company's strides in mine development and Stage 1 plant commissioning paint a promising future for rare earths production.

Strategic Achievements: A Foundation for Future Success

The year 2023 serves as a testament to Lindian's rapid progression since the acquisition of Kangankunde just 16 months ago. With a strategic focus on developmental milestones, the Company gears up for a series of value-enhancing strides in the first quarter of 2024. The tangible progress achieved and robust industry interest highlight Kangankunde's substantial global potential as a rare earths project.

Executive Vision: Lindian's Commitment to Progress

Asimwe Kabunga, Lindian's Executive Chairman, expressed pride in the accelerated development at Kangankunde, setting the stage for a parallel pace of progress in 2024. His statements underscore Lindian's financial strength, industry flexibility, and commitment to steering Kangankunde toward production rapidly.

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The project's global significance and imminent value additions remain at the core of Lindian's objectives.

Operational Outlook: The Journey Toward Feasibility

Alistair Stephens, Lindian's Chief Executive Officer, details the advancing site development and the Company's strategic objectives. With a proactive mine development approach, the Company is poised to unveil an updated resource statement, precise mine designs, and detailed cost quotations for processing infrastructure in the coming year. These crucial steps lead the way to the feasibility study, slated for completion in the first quarter of 2024.

Strategic Positioning: A Unique Value Proposition

Lindian aims to emerge as a global producer of non-radioactive monazite mineral concentrate, utilizing gravity separation for mineral recovery. The strategic access to hydroelectric power and initiatives to minimize site emissions and introduce renewable energy reinforce Lindian's commitment to a low environmental footprint within the rare earths industry.

The year 2023 stands witness to Lindian's remarkable achievements:

- Acquisition of Kangankunde for US$30 million
- Maiden JORC resource statement publication
- Confirmation of non-radioactivity by ANSTO for Kangankunde monazite concentrate
- Explosives License acquisition and publication of an Exploration Target below the Mineral Resource Estimate (MRE)
- Progress payments for project acquisition totaling US$20 million
- Signing of an MOU for supply and sale of monazite mineral concentrate with Gerald SARL
- Completion of civil engineering designs
- Declaration of a maiden Mineral Resource Estimate of 261 million tonnes at 2. 2% TREO

Mine Development and Future Projections

An infill drill program for mine development is concluded, with ongoing assays expected to be progressively reported. These advancements reinforce Lindian's commitment to progress, with a sharp focus on achieving significant milestones in rare earths production at Kangankunde.

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