Lindian Resources suspended after 10% drop

• Lindian Resources requested an immediate share suspension following parliamentary scrutiny over its African mining licence.
• The stock fell 10% prior to the trading halt, contrasting with its 400% gain over the past year.
• The company requested the suspension to prepare an official response regarding media speculation about its licence scale.

Lindian Resources (ASX:LIN) shares were suspended from quotation after falling 10% on parliamentary mining licence scrutiny.

The drop follows a 400% stock surge over the past year before licence concerns emerged.

Lindian stated the suspension will remain until releasing an official announcement regarding media speculation.

Malawi parliamentarians questioned whether the Kangankunde rare earths project requires a large-scale licence instead of a medium-scale licence.

Following the announcement, the Lindian Resources share price was down at $0.70.

Hedge funds Regal Partners and L1 Capital support the flagship African Critical Minerals Project.

The quotation suspension will last until market open on Monday or until the company responds.