Australia's Lindian Resources drops on discounted placement

Lindian Resources

01/04/2026 01:39

** Shares of Australia's Lindian Resources LIN.AX slump as much as 15.8% to A$0.745, their biggest drop since January 29

** Rare earths explorer receives firm commitments to raise nearly A$100 million via placement at an issue price of A$0.75 per share

** Issue price represents a 15.3% discount to the last closing price

** Proceeds will be used to accelerate Kangankunde Stage 2 expansion in Malawi and SARECO MREC facility integration in Kazakhstan

** LIN up 86.1% YTD

(Reporting by Keshav Singh Chundawat in Bengaluru)

((Keshav.singhchundawat@thomsonreuters.com))