Australia's Lindian Resources jumps on funding agreement for rare earths project

Lindian Resources

16/12/2024 02:41

** Shares of Lindian Resources  LIN.AX  rise as much as 8.2%
to A$0.092, posting their biggest intraday pct gain since Nov 26
    ** Mineral explorer says Gerald Group to provide $50 mln in
funding to help the development of the Kangankunde Rare Earths
Project in Malawi
    ** Says loan expected to be partially repaid through supply
of monazite concentrate produced from the project
    ** About 1.3 mln shares change hands, 1.6x the 30-day avg
    ** Stock hits its highest level since Dec 10
    ** Stock down 37.9% this year, including current session
move

 (Reporting by Kumar Tanishk in Bengaluru)
 ((Tanishk.Kumar@thomsonreuters.com;))