Lindian Resources Begins Kangankunde Testing With A$45 Million Cash and December Target

Highlights

• Equipment testing is underway at Malawi's Kangankunde project, with first rare earth concentrate targeted for December 2026.
• Lindian holds A$45.1 million in cash and A$17 million in undrawn bank facilities, though conditions for accessing those funds remain unclear.
• Carester's offtake covers 70% of heavy rare earth carbonate actually produced—not a guaranteed purchase of all output.
• The Deep Blue Sea litigation was remanded to Malawi's High Court and remains unresolved, adding legal uncertainty for investors.
• Integrated commissioning is scheduled for late November, with ore introduction and export logistics still representing critical execution gates.