Vorster appointed CEO at Lindian

African-focused Lindian Resources has appointed Alwyn Vorster as its chief executive, effective from June 1.

Mr Vorster replaces Alistair Stephens, who has resigned with immediate effect. His initial term is for 12 months, with a mutual option to extend.

Last week, Perth-based Lindian also confirmed the appointment of Kellie Davis as joint company secretary, replacing Brett Tucker.

Lindian chair Asimwe Kabunga told the market that due to the Malawi-based Kangankunde rare earths project reaching the next phase of development, the company’s board believed a shift in guidance was necessary.

“The board is grateful for the contribution made by outgoing CEO Alistair Stephens,” he said.

“We have now reached the point where project delivery experience and focussed transition management is required to finalise feasibility studies and funding, and then move into construction of these assets.

“It is therefore essential that we strengthen our management team and organisation structure for this next phase of development and ensure that we are well prepared to steer the company forward.”

Mr Vorster is determined for Kangankunde to reach construction and eventually production, as soon as possible.

“I have seldom in my 30-year career encountered an exceptional orebody such as at the world class Kangankunde project,” he said.

“My aim will be to finalise all elements required to move Kangankunde into construction and operations as soon as possible, resulting in potential cashflow for Lindian in 2025.

“In addition, our bauxite assets in Guinea have the potential to create significant shareholder value in the medium term.”

Earlier this month, Lindian announced it had completed its infill drill campaign at Kangankunde – resulting in an indicated resource increase of 61 million tonnes at 2.43 per cent total rare earth oxides.

With this boost, Kangankunde now boasts a total resource estimate of 261 million tonnes grading 2.14 per cent of total rare earths oxides.

Aside from the project’s feasibility study nearing completion, Kangankunde is now fully permitted to undertake construction, mining and mineral processing. 

Lindian closed trade on Monday down 8 per cent, trading at 11.5 cents per share.