Lindian Resources Secures Diesel Prices for Kangankunde Project

0:00Lindian resources just locked in diesel prices for its massive Kangung Kunde rare earth's project in Malawi, bringing more costability as they gear up. For construction and first production later this year, they signed a 12 month fixed price deal with Petrodomalawi for 500,000 liters at $2.83 US per liter, or about $3.96 Australian split into two equal batches. The first batch already hit the site, so no storage issues during the build. This move shields them from fuel price swings, especially with two months of on-site stock, ensuring smooth ops through startup. Plus, the project's low three megawatt power needs tap into the existing grid, cutting fuel use big time. Execs say it highlights their sharp cost control. Building on a strong April with $100 million Australian dollars raised in an oversubscribed. Placement at $0.75 per share, funding stage 1, debt free, and stage 2 expansions. They also got the Tapume worker camp running in late March and took a 51% stake in a mixed

1:05rare earth processing plant in Kazakhstan. With logistics clicking, Kangung Kunde stays on track for fourth quarter production and real cash flow. My RAP Sydney news today, brought to you with AI, I'm Corey with the story.