Could you share the outcomes of the Phase 1 drilling program at Kangankunde? What is the focus of Phase 2? 

The Phase 1 drill program of 10,000 m has been completed safely, ahead of time and on budget and it has been a very successful program.  The assays have delivered some very high grade total rare earths oxide (TREO) intersections that are very broad and these results conclusively prove that Kangankunde is what we knew it to always be - a rare earths asset that will rank amongst the world's very best. We are due to report our maiden mineral resource estimate in the coming weeks, what we call the MRE, and this Phase 1 drilling defines the initial tonnage and grade. We are confident the maiden MRE will be a major value catalyst for Lindian. 

In terms of the Phase 2 drill program, we are drilling two very deep diamond drill holes where the focus is to test the depth of mineralisation at Kangankunde. From this, we can report an exploration target on top of our MRE, and that will be another major milestone for us.  This program is going very well; the first hole was completed to ~980 metres and we like what we saw in the core. 
 
How does Kangankunde compare to other rare earth assets in Africa? What has earned the project the nickname “the King”?

In our view there isn’t a direct comparison to among the other rare earths projects in Africa, because Kangankunde is singular in terms of grade and scale. There are also some other key defining characteristics that set it apart, starting with the fact that the rare earths mineralisation at Kangankunde is non-radioactive. This is a feature that makes the asset hugely valuable and will see our concentrate very sought after in global markets. The best comparisons to Kangankunde are most likely the Mount Weld Mine in Western Australia and The Mountain Pass mine in California. 

There are several reasons why Kangankunde has earned the moniker of 'the King', starting with its likely significant size, which is complemented by the quality and grade of the mineralisation, the broad extent of the mineralisation and the high NdPr ratio. 

We think Kangankunde is a standout example of a project in Africa that has the potential to play a central role in global rare earths supply, and that may act as a catalyst for further investment in Malawi and other African jurisdictions – signs of which are already starting to emerge.

Could you update our audience on the recent developments at your bauxite assets in the Northern Corridor, in Guinea, including the supply agreement for Gaoual?
 
We are making excellent progress with our Bauxite assets in Guinea and these have enormous unlocked value that the company is just now starting to realise. In May we signed a six-year Supply Agreement for 23 million Wet Metric Tonnes (‘WMT’) of bauxite from the 83 million tonne Gaoual bauxite project with C&D Logistics, a subsidiary of Xiamen C&D Inc, a China-based conglomerate. This brings real balance sheet strength to our bauxite operations and will help fast-track the development of Gaoual. We are also actively advancing our other bauxite assets in Guinea, starting with the Woula project, which holds 19 million t and is located close to port facilities.

What makes Lindian Resources a good investment proposition? 

Lindian has had a really good 12 months, our market capitalisation has increased from something like US$30 million to over US$400 million today, and that's due to the fact that we assembled quality assets over many years that have incredible upside. I firmly believe that our value is only just starting to be realised and there's lots of upside still to be achieved from a range of milestones that we have set out over the coming months and years. 

In the near-term, we expect to have a number of updates in Guinea as we advance the Gaoual project. With Indonesia banning bauxite exports, Guinea's bauxite has just become more in-demand. 

Very importantly, we are yet to contract any of Kangankunde's material through off-take agreements and I can guarantee there is huge demand here, given the unique characteristics of the project’s mineralisation. Lindian is not just a good investment proposition, it is a standout opportunity.