With multiple funding enquiries over the past few months to help progress the development of its Kangankunde rare earths project, in Malawi, and a current nonbinding $50-million Stage 1 funding and offtake package with the Gerald Group, ASX-listed Lindian Resources has engaged Henk Ludik as corporate finance adviser reporting directly to the board.

Ludik has over 20 years of experience in mining, investment banking, corporate finance and strategic advisory, having successfully structured and secured project financing for large-scale mining operations across Africa, Australia, the US and Europe, the company points out.

His expertise in capital markets, mergers and acquisitions and investor engagement will be leveraged to navigate funding negotiations and securing long-term financial partners.

Ludik’s role will be to specifically work with the Gerald Group to progress the binding term sheet and to identify, review and recommend other funding solutions that will be of benefit to the company and its shareholders.  

Lindian’s board is currently working with the Gerald Group to progress to binding terms and is also assessing a range of funding enquiries that have presented themselves, including debt, and strategic partnerships, to determine the most effective capital structure that ensures maximum value for shareholders while advancing project development, the company says.

“We have received strong interest globally from multiple parties looking to finance the Kangankunde rare earths project. Given the scale and strategic importance of this asset, it is crucial that we have the appropriate skill set to help Gerald Group move to a binding term sheet and to evaluate the other opportunities and enquirers that the company has been presented, ensuring we secure the most favourable terms for our shareholders.

“Henk brings deep expertise in mining finance, and we are confident that his leadership will be instrumental in maximising value as we progress funding discussions,” says nonexecutive chairperson Robert Martin.