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16 DECEMBER 2020 AL CIRCLE

Lindian Resources gets green signal to acquire a 61% stake in Woula Bauxite Project

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

ASX-listed high-grade bauxite developer Lindian Resources has reportedly received a nod from the Guinea Ministry of Mines to acquire a 61 per cent stake in the strategic Woula bauxite project. Lindian sees Woula as a potential bauxite producer given its direct shipping ore capability and the close proximity to the mature Guinea bauxite industry’s transport and export infrastructure.

Lindian Resources gets green signal to acquire a 61% stake in Woula Bauxite Project

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According to the terms of transaction to the value of about $400,000, Lindian Resources can increase its stake to 75 per cent by funding a JORC-compliant scoping study or feasibility study on the project within 18 months. The company is expected to start work on either the scoping study or feasibility study during the March quarter of 2021.

Lindian is willing to evaluate various infrastructure and production options, which in turn will form the basis of upcoming scoping or feasibility study. The company will initiate commercial discussions as well with the relevant infrastructure owners as it seeks access rights to roads and ports required for a proposed one million tonnes of direct shipping ore in a year.

Lindian Resources recently found a readily mineable maiden resource at Gaoual, with aluminium oxide at an average 49.8 per cent, silica 11.5 per cent, and a higher-grade component of 84 million tonnes at an impressive grade of 5.12 per cent aluminium oxide.

AlCircleBiz

Lindian has a 75 per cent interest in Gaoual that lies approximately 40km west of 75 per cent owned Lelouma.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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