Lindian Resources (ASX:LIN) is advancing talks and finalizing details of the binding terms for the funding and offtake of the Kangankunde rare earths project in Malawi, according to a Tuesday Australian bourse filing.
Trading house Gerald Group's technical team and their external engineering group began internal meetings and due diligence of the data room ahead of a potential $50 million facility, the filing said.
The firm undertook an extensive review and optimization of the processing flowsheet proposed in the feasibility study for the construction and operation of the processing plant.
It plans to award a design and contract within the next few weeks, with procurement and mobilization remaining the only subjects for the conclusion of funding.
It is also finalizing the contract for an intersection, a five-kilometer road corridor, and a square kilometer site entry area.
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