Lindian Resources: Acquires Lelouma and Woula bauxite projects
- Lindian Resources has signed binding agreements to acquire 75 per cent of Sarmin Bauxite and up to a 75 per cent interest in the Woula Bauxite Project
- Sarmin Bauxite is a private company which also holds the rights to the Lelouma Bauxite Project in the Republic of Guinea
- Lelouma has an indicated and inferred mineral resource of 847M tonnes at 45.1 per cent aluminium oxide and 2.1 per cent silicon dioxide
- Lindian has entered an investment deed with Sarmin’s controlling shareholder, Sarmin Mining, and other existing shareholders.
- Then the project has an inferred mineral resource of 64M tonnes at 38.7 per cent aluminium and 3.1 per cent silicon dioxide
- Company shares are up a healthy 22.2 per cent and are trading for 2.2 cents at 1:55 pm AEST