Australia's Lindian Resources jumps 11% on premium placement

Lindian Resources

27/03/2023 02:19

** Shares of Lindian Resources  LIN.AX  rise as much as
10.6% to A$0.26, set for their best day since March 9, if gains
hold 
    ** The bauxite-focussed explorer says it got a non-brokered
placement of A$9 mln ($5.98 mln) 
    ** Co will issue 32.7 mln new shares at an issue price of 26
Australian cents per share, a premium of 10.6% to stock's last
close on Friday 
    ** Funds raised will be used to acquire key equipment for
its rare-earths project in Malwai and for working capital 
    ** Stock up 51.6% this year, as of last close 
    
     ($1 = 1.5058 Australian dollars)

 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))