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Lindian Resources Ltd ASX:LIN

0 opened or increased7 held1 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 1 reduced. 8 managers in total.

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2026

31 Oct 2025 to today

Commentary Showing 2 of 16

DateManagerActionSummary

30 Sep 2026Cadence CapitalReducedCadence Capital reduced its position in Lindian Resources (ASX:LIN), with the Cadence Opportunities Fund cutting exposure after the share price fell 47% during the period. Cadence notes the decline followed an offtake agreement with French downstream specialist Carestar and proposed amendments to the Malawi Mining Code. Lindian is developing the Kangankunde rare earth project in Malawi, which it expects to ramp up through 2027. Cadence maintains a position on the view that the Malawian government will act rationally and the proposed mine will proceed.

Rare EarthsMonthly Report, price recorded $0.49

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6 Aug 2026Wilson Asset ManagementHeldWilson Asset Management continues to hold Lindian Resources, its largest position in the Active Fund, because portfolio manager Shaun Weick expressed confidence the rare earths project retains full support from the Malawi government, including the president and mining minister, describing recent controversy as politically motivated misinformation from a segment of government lacking authority to alter the project. Weick acknowledged potential for the project to move from a medium-scale to large-scale licence, which would trigger a modest increase in government royalties already anticipated by investors, but said there is no expected change to the production timeline, which remains on track for October.

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About Lindian Resources Ltd

Materials, Metals and Mining

Lindian Resources (ASX:LIN), a rare earths developer in Malawi, has become a high-conviction holding for several fund managers. In August 2026, Wilson Asset Management said Lindian is the largest position in its WAM Active fund, with portfolio manager Shaun Weick confident in the project's progress. Regal's Aldridge expects Lindian to produce more rare earth concentrate than Iluka within 18 months, possibly rivalling Lynas, and named it a top pick after it acquired a processing facility in Eastern Europe. Paragon said Lindian is on track to become the world's third significant non-Chinese rare earths producer. Lindian Resources operates in the Materials sector within the Metals and Mining industry, and Thesis Tracker has captured 15 comments from 8 fund managers, including Wilson, Regal and Paragon. Founded in 1999 and headquartered in Perth, Lindian is developing the Kangankunde rare earths project in Malawi, one of the world's largest and highest-grade monazite rare earths deposits.

Market cap: $704m
Price to earnings: Loss-making
Return on equity: -10.8%
Dividend yield: 0.0%
Price to book: 8.69x
52-week range: $0.27 to $1.02

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in Lindian Resources Ltd (ASX:LIN)?

Fund managers including Wilson Asset Management, Terra Capital, Blackwattle Investment Partners and Cadence Capital have invested in Lindian Resources Ltd (ASX:LIN).

What opportunities or catalysts do fund managers highlight for Lindian Resources Ltd?

Managers highlight a world-class Kangankunde deposit, imminent production, a downstream processing acquisition in Eastern Europe and Lindian's potential to become a major non-Chinese rare earths supplier, according to Wilson, Regal and Paragon.

What are the key risks to the Lindian Resources Ltd investment thesis, according to fund managers?

The available commentary is positive, though Lindian faces execution risk in ramping up production and sovereign risk in Malawi.

What does Lindian Resources Ltd (ASX:LIN) do?

Lindian Resources Ltd. is a Perth-based mineral exploration and development company established in 1999. The firm focuses on the evaluation and development of mineral properties across four key geographical segments: Tanzania, Guinea, Malawi, and Australia. Lindian Resources operates as a dedicated natural resources explorer, managing a diversified portfolio of international projects.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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